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Explain the term deposit according to given context. Determine Mrs. Pillay's salary that was deposited into her bank account. The deposit fee for this type of account; R5+1,20% of the value deposited. Write down the minimum bank charges for the salary deposited.
Mathematics
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12 steps1.1.1
A deposit, in this context, refers to money being added to Mrs. Pillay's bank account. Specifically, it is her salary being credited to her account, increasing her balance.
1.1.2
Identify the initial and final account balances.
Initial balance
Final balanceCalculate the salary deposited by finding the difference between the final and initial balances.
Mrs. Pillay's salary deposited was .
1.1.3
Identify the deposit fee structure and the value deposited.
Deposit fee
Value deposited (from 1.1.2)Calculate the percentage portion of the fee.
Calculate the total bank charges.
The minimum bank charges for the salary deposited are .
1.2.1
Mapule's fixed expenses are costs that generally remain constant each month.- Rent: R300,00
- Cellphone contract: R120,00 Her fixed expenses are Rent and Cellphone contract.
1.2.2
Calculate her weekly income for 4 weeks.
Add her monthly tips to the weekly earnings.
Her total income for the month in February is .
1.2.3
List all her expenditures for the month.
- Transport: R150,00
- Groceries: R500,00
- Rent: R300,00
- Cellphone contract: R120,00
Sum all the expenditures to find the total expenses.
Her total expenses for this month are .
1.2.4
Use the total expenses and total income calculated previously.
Total expenses (from 1.2.3)
Total income (from 1.2.2)Calculate the percentage of total expenses to total income.
Round the answer to the nearest percentage.
The total expenses as a percentage of the total income is .
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