Question

David invested R1000, what would that money grow to in 18 months at 5.5% interest rate

Answer 1

18 months = 1 and half year
= 1
`(1)/(2)` year

I = PRT
P for Principle Amount
R for Rate
T for Time in years

I = 1000 × 0.055 × 1.5 (5.5% =
`(5.5)/(100)` = 0.055)
= R82.5

R1000 + R82.5 = R1082.5