document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1194896>Question 1194896</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help with the homework:<BR>\n" );
document.write( "Calculate the sum accrued on a fixed deposit of R10000 is invested on 15 march 2021 until 1 July 2023, if interest is credited annually on the 1 July at 15,5%. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #848443 by </B><A HREF=/tutors/aboutme.mpl?userid=ElectricPavlov><B>ElectricPavlov(122)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ElectricPavlov><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=848443\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> To calculate the accrued amount on a fixed deposit of R10,000 invested from 15 March 2021 to 1 July 2023, with interest credited annually on 1 July at an annual rate of 15.5%, follow these steps:\r<BR>\n" );
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document.write( "**1. Determine the Investment Period:**\r<BR>\n" );
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document.write( "- **Start Date:** 15 March 2021<BR>\n" );
document.write( "- **End Date:** 1 July 2023\r<BR>\n" );
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document.write( "**2. Calculate the Total Investment Duration:**\r<BR>\n" );
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document.write( "- **From 15 March 2021 to 1 July 2023:**\r<BR>\n" );
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document.write( "  - **Year 1:** 15 March 2021 to 1 July 2021<BR>\n" );
document.write( "    - **Days:** 15 March to 31 March (17 days) + April (30 days) + May (31 days) + June (30 days) + 1 July (1 day) = 109 days\r<BR>\n" );
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document.write( "  - **Year 2:** 1 July 2021 to 1 July 2022<BR>\n" );
document.write( "    - **Days:** 365 days (non-leap year)\r<BR>\n" );
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document.write( "  - **Year 3:** 1 July 2022 to 1 July 2023<BR>\n" );
document.write( "    - **Days:** 365 days\r<BR>\n" );
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document.write( "  - **Total Days:** 109 + 365 + 365 = 839 days\r<BR>\n" );
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document.write( "  - **Total Years:** 839 days ÷ 365 days/year ≈ 2.2986 years\r<BR>\n" );
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document.write( "**3. Apply the Compound Interest Formula:**\r<BR>\n" );
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document.write( "The compound interest formula is:\r<BR>\n" );
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document.write( "\[ A = P \times (1 + r)^t \]\r<BR>\n" );
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document.write( "Where:<BR>\n" );
document.write( "- \( A \) = Accrued amount<BR>\n" );
document.write( "- \( P \) = Principal amount (R10,000)<BR>\n" );
document.write( "- \( r \) = Annual interest rate (15.5% or 0.155)<BR>\n" );
document.write( "- \( t \) = Time in years (2.2986)\r<BR>\n" );
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document.write( "**4. Perform the Calculation:**\r<BR>\n" );
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document.write( "\[ A = 10,\!000 \times (1 + 0.155)^{2.2986} \]\r<BR>\n" );
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document.write( "First, calculate \( (1 + 0.155) \):\r<BR>\n" );
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document.write( "\[ 1 + 0.155 = 1.155 \]\r<BR>\n" );
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document.write( "Next, raise 1.155 to the power of 2.2986. Using a calculator:\r<BR>\n" );
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document.write( "\[ 1.155^{2.2986} \approx 1.404 \]\r<BR>\n" );
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document.write( "Now, multiply by the principal:\r<BR>\n" );
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document.write( "\[ A = 10,\!000 \times 1.404 = 14,\!040 \]\r<BR>\n" );
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document.write( "**5. Conclusion:**\r<BR>\n" );
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document.write( "The accrued amount on the fixed deposit of R10,000, invested from 15 March 2021 to 1 July 2023 at an annual interest rate of 15.5%, is approximately **R14,040**.  </SPAN>\n" );
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