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Thandi deposits $R 850$ into a bank. The bank will pay a simple interest rate of $8 \%$ per year. How much money will Thandi get when she withdraws all her money after five years?

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$A=P(1+r t)$

$A=$ final amount

$P=$ initial principal balance

$r=$ annual interest rate

$t=$ time (in years)

In this case $P=R850; r=0.08; t=5$

So,

$A=850(1+ 0.08\times 5)$

$\therefore A=R1190$
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