An amount of R5 500 is invested for a period of 4 years in a savings account. For the first year, the investment grows at a simple interest rate of 11% p.a. and then at a rate of 12,5% p.a. compounded quarterly for the rest of the period. Determine the value of the investment at the end of the 4 years.

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An amount of R5 500 is invested for a period of 4 years in a savings
account. For the first year, the investment grows at a simple interest
rate of 11% p.a. and then at a rate of 12,5% p.a. compounded quarterly
for the rest of the period. Determine the value of the investment at
the end of the 4 years.

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