2.1 What amount should be inve

2.1 What amount should be invested at 16.5% p.a, simple interest, so that it amounts to R14500 in two and a half years? (3)
2.2 Mr Schoolman borrowed R100 000 from Nedbank. He paid the money with an interest rate of 12.89% compounded monthly for 7 years. Determine the amount paid by Mr Schoolman. (3)
2.3 Capitec bank announced that their saving account would pay a nominal interest rate of 11% p.a compounded semi-annually. What is the effective interest rate this bank pays?

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