Bongani deposited R100 000 in the bank which offers 5,5% per annum simple interest.His intention is to buy a car after 4 years 1.1 Write the interest rate per annum as a decimal fraction

Cornerstones of Financial Accounting
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Chapter9: Long-term Liabilities
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Bongani deposited R100 000 in the bank which offers 5,5% per annum simple interest.His intention is to buy a car after 4 years 1.1 Write the interest rate per annum as a decimal fraction
ACTIVITY 1
Bongani deposited R100 000 in the bank which offers 5,5% per annum simple interest.
His intention is to buy a car after 4 years.
1.1
1.1.1
Write the interest rate per annum as a decimal fraction.
1.1.2
Calculate the interest that Bongani will receive after 4 years.
Transcribed Image Text:ACTIVITY 1 Bongani deposited R100 000 in the bank which offers 5,5% per annum simple interest. His intention is to buy a car after 4 years. 1.1 1.1.1 Write the interest rate per annum as a decimal fraction. 1.1.2 Calculate the interest that Bongani will receive after 4 years.
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