Mr Mahlangu invests R20 000,00 to pay for lobola. After 48 months he receives R65 000,00. The interest on the investment is compounded quarterly. Determine the yearly interest rate at which the money was invested. Give your answer as a percentage, rounded to two decimal places.

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Mr Mahlangu invests R20
000,00 to pay for lobola. After 48 months he receives R65
000,00. The

interest on the investment is compounded quarterly. Determine the
yearly interest rate at which the

money was invested. Give your answer as a percentage, rounded to two
decimal places.

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