Ayanda decides to invest 20% of her closing balance into a high-interest savings account. Calculate the…

Question

Ayanda decides to invest 20% of her closing balance into a high-interest savings account. Calculate the amount she will invest.

ScanSolve AI Tutor · Accepted Answer

let's break down these financial calculations.

2.3 Explain the term Transaction Charge in this context.
A transaction charge is a fee levied by a financial institution (like a bank) for processing a financial transaction. This could include fees for using a debit/credit card, making withdrawals, or transferring money.

2.4 Show by means of calculation that the missing value A in Table 1 is R15 531,50.
Table 1, which contains the necessary values to calculate A, is not provided in the image. Therefore, this calculation cannot be performed.

2.5 Ayanda needs to calculate her total earnings and costs.

2.5.1 Calculate the total amount (in Rands) Ayanda paid for Transaction Charges only during the month of August.

Identify the transaction charges listed.
The visible charges are R4000, R800, R5200, and R14300.
Sum the transaction charges.
$\text{Total Transaction Charges} = \text{R}4000 + \text{R}800 + \text{R}5200 + \text{R}14300$ $\text{Total Transaction Charges} = \text{R}24300$
Ayanda paid a total of $\boxed{\text{R}24300}$ for transaction charges in August.

2.5.2 Calculate the total amount of Salary Ayanda earned over the two-month period shown in Table 1.
Identify the salary components shown.
The visible components are R2 500,00 and R8.50.
Sum the salary components.
$\text{Total Salary} = \text{R}2500.00 + \text{R}8.50$ $\text{Total Salary} = \text{R}2508.50$
Ayanda earned a total of $\boxed{\text{R}2508.50}$ over the two-month period based on the provided figures.

2.6 Ayanda decides to invest 20% of her closing balance into a high-interest savings account. Calculate the amount she will invest.
Identify Ayanda's closing balance.
The closing balance is R16 196.50.
Calculate 20% of the closing balance.
$\text{Investment Amount} = 20\% \times \text{R}16196.50$ $\text{Investment Amount} = \frac{20}{100} \times \text{R}16196.50$ $\text{Investment Amount} = 0.20 \times \text{R}16196.50$ $\text{Investment Amount} = \text{R}3239.30$
Ayanda will invest $\boxed{\text{R}3239.30}$ .

Ayanda decides to invest 20% of her closing balance into a high-interest savings account. Calculate the amount she will invest.

Step-by-step solution

Identify the transaction charges listed.

Sum the transaction charges.

Identify the salary components shown.

Sum the salary components.

Identify Ayanda's closing balance.

Calculate 20% of the closing balance.

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