For Bank B, the interest is
compounded
monthly. Hence Principal = R2 000Time = 3 years 2 months = 38 monthsInterest rate = ???? = 0.0079167The amount obtained isS = P (1 + R) T S = 2000 (1 + 0.0079167) 38 S = R2 698.77
Basic transaction processing . On November 1 of the current year, Richard Parkerestablished a sole proprietorship. The following transactions occurred during the month:
1: Parker invested $19,000 into the business.2: Paid $9,000 to acquire a used minivan.3: Purchased $1,800 of office furniture on account.4: Performed $2,100 of consulting
services
on account.5: Paid $300 of repair expenses.6: Received $800 from clients who were previously billed in item 4.7: Paid $500 on account to the supplier of office furniture in item 3.8: Received a $150 electric bill, to be paid next month.9: Parker withdrew $600 from the business.10: Received $250 in cash from clients for consulting services rendered.
