\(\text{R}\,\text{400}\), the sixth withdrawal
\(\text{R}\,\text{3,30}\) + \(\text{4}\) \(\times\) \(\text{R}\,\text{1,20}\) = \(\text{R}\,\text{8,10}\)
We think you are located in South Africa. Is this correct?
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The TownBank current account charges \(\text{R}\,\text{3,30}\) plus \(\text{R}\,\text{1,20}\) per \(\text{R}\,\text{100}\) or part thereof for a cash withdrawal from a TownBank ATM. The first five withdrawals in a month are free. Determine the bank charges for a withdrawal of:
\(\text{R}\,\text{400}\), the sixth withdrawal
\(\text{R}\,\text{3,30}\) + \(\text{4}\) \(\times\) \(\text{R}\,\text{1,20}\) = \(\text{R}\,\text{8,10}\)
\(\text{R}\,\text{850}\), the fourth withdrawal
Free
\(\text{R}\,\text{3 000}\), the tenth withdrawal
\(\text{R}\,\text{3,30}\) + \(\text{30}\) \(\times\) \(\text{R}\,\text{1,20}\) = \(\text{R}\,\text{15,30}\)
\(\text{R}\,\text{250}\), the seventh withdrawal
\(\text{R}\,\text{3,30}\) + \(\text{3}\) \(\times\) \(\text{R}\,\text{1,20}\) = \(\text{R}\,\text{6,90}\)
The Success Current Account charges \(\text{R}\,\text{3,75}\) plus \(\text{R}\,\text{0,75}\) per full \(\text{R}\,\text{100}\), to a maximum charge of \(\text{R}\,\text{25,00}\) for debit card purchases. Determine the charges for a purchase of:
\(\text{R}\,\text{374,55}\)
\(\text{R}\,\text{3,75}\) + \(\text{3}\) \(\times\) \(\text{R}\,\text{0,75}\) = \(\text{R}\,\text{6,00}\)
\(\text{R}\,\text{990,87}\)
\(\text{R}\,\text{3,75}\) + \(\text{9}\) \(\times\) \(\text{R}\,\text{0,75}\) = \(\text{R}\,\text{10,50}\)
\(\text{R}\,\text{2 900,95}\)
\(\text{3,75}\) + \(\text{29}\) \(\times\) \(\text{R}\,\text{0,75}\) = \(\text{R}\,\text{25,50}\). This exceeds the maximum charge or \(\text{R}\,\text{25}\), so the bank charge will be \(\text{R}\,\text{25,00}\).
You are given the following information about bank charges for a TownBank current account.
Withdrawals
Over the counter: \(\text{R}\,\text{23,00}\) plus \(\text{R}\,\text{1,10}\) per \(\text{R}\,\text{100}\) or part thereof
TownBank ATM: \(\text{R}\,\text{3,50}\) plus \(\text{R}\,\text{1,10}\) per \(\text{R}\,\text{100}\) or part thereof
Another bank's ATM: \(\text{R}\,\text{5,50}\) plus \(\text{R}\,\text{3,50}\) plus \(\text{R}\,\text{1,10}\) per \(\text{R}\,\text{100}\) or part thereof
Tillpoint  cash only: \(\text{R}\,\text{3,65}\)
Tillpoint  cash with purchase: \(\text{R}\,\text{5,50}\)
Calculate the fee charged for a \(\text{R}\,\text{2 500}\) withdrawal from a TownBank ATM.
\(\text{R}\,\text{3,50}\) + \(\text{25}\) \(\times\) \(\text{R}\,\text{1,10}\) = \(\text{R}\,\text{31,00}\)
Calculate the fee charged for a \(\text{R}\,\text{750}\) withdrawal from another bank's ATM.
\(\text{R}\,\text{5,50}\) + \(\text{R}\,\text{3,50}\) + \(\text{8}\) \(\times\) \(\text{R}\,\text{1,10}\) = \(\text{R}\,\text{17,80}\)
Calculate the fee charged for a \(\text{R}\,\text{250}\) withdrawal from the teller at a branch.
\(\text{R}\,\text{23,00}\) + \(\text{3}\) \(\times\) \(\text{R}\,\text{1,10}\) = \(\text{R}\,\text{26,30}\)
What percentage of the \(\text{R}\,\text{250}\) withdrawal in question (c) is charged in fees?
\(\frac{\text{26,30}}{\text{250}} \times \text{100}\)=\(\text{10,52}\%\)
Would it be cheaper to withdraw \(\text{R}\,\text{1 500}\) at the bank, from a TownBank ATM or from a till point with a purchase?
At the bank: \(\text{R}\,\text{23}\) + \(\text{15}\) \(\times\) \(\text{R}\,\text{1,10}\) = \(\text{R}\,\text{39,50}\). At a TownBank ATM: \(\text{R}\,\text{3,50}\) + \(\text{15}\) \(\times\) \(\text{R}\,\text{1,10}\) = \(\text{R}\,\text{20,00}\). At a tillpoint with a purchase: \(\text{R}\,\text{5,50}\). So it will be cheapest to draw at a tillpoint, with a purchase.
Study the graph and answer the questions that follow:
Complete the table below: (Fill in all the missing spaces)
Amount invested (in Rands)  \(\text{100}\)  \(\text{200}\)  \(\text{300}\)  \(\text{400}\)  \(\text{500}\)  \(\text{600}\)  \(\text{700}\) 
Interest Earned (in Rands)  \(\text{10}\)  \(\text{30}\)  \(\text{50}\)  \(\text{70}\)  
Interest/Amount \(\times\) \(\text{100}\) (Interest Rate) 
Amount invested in Rands  \(\text{100}\)  \(\text{200}\)  \(\text{300}\)  \(\text{400}\)  \(\text{500}\)  \(\text{600}\)  \(\text{700}\) 
Interest Earned in Rands  \(\text{10}\)  \(\text{20}\)  \(\text{30}\)  \(\text{40}\)  \(\text{50}\)  \(\text{60}\)  \(\text{70}\) 
Interest/Amount \(\times\) \(\text{100}\) (Interest Rate)  \(\text{10}\%\)  \(\text{10}\%\)  \(\text{10}\%\)  \(\text{10}\%\)  \(\text{10}\%\)  \(\text{10}\%\)  \(\text{10}\%\) 
What kind of proportionality exists between the amount invested and the interest earned?
Direct proportionality.
You decide to invest \(\text{R}\,\text{10 000}\). Calculate the amount of interest you can expect to earn.
Interest rate is fixed at \(\text{10}\%\). \(\text{10}\%\) of \(\text{R}\,\text{10 000}\) = \(\text{R}\,\text{1 000}\) of interest earned.
Complete the table below by calculating the missing amounts.
Amount (R)  \(\text{17,95}\)  \(\text{33,80}\)  \(\text{4,50}\)  
VAT (R)  \(\text{2,51}\)  \(\text{14,00}\)  \(\text{1,4}\)  
Total (R)  \(\text{20,46}\)  \(\text{11,40}\)  \(\text{221}\)  \(\text{404,00}\) 
Amount (R)  \(\text{17,95}\)  \(\text{100,00}\)  \(\text{10,00}\)  \(\text{33,80}\)  \(\text{4,50}\)  \(\text{193,86}\)  \(\text{354,39}\) 
VAT (R)  \(\text{2,51}\)  \(\text{14,00}\)  \(\text{1,4}\)  \(\text{4,73}\)  \(\text{0,63}\)  \(\text{27,14}\)  \(\text{49,61}\) 
Total (R)  \(\text{20,46}\)  \(\text{114,00}\)  \(\text{11,40}\)  \(\text{38,53}\)  \(\text{5,13}\)  \(\text{221,00}\)  \(\text{404,00}\) 
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