Sam wants to invest R3 450 for five years. Wise Bank offers a savings account that pays simple interest at a rate of 12,5% per annum and Grand Bank offers a savings account paying compound interest at a rate of 10,4% per annum. 3.3.1 Which bank account will give Sam the greatest accumulated balance at the end of the five-year period? Show all your calculations.

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Sam wants to invest R3 450 for five years.
Wise Bank offers a savings account that pays simple interest at a rate of 12,5% per annum and Grand Bank offers a savings account paying compound interest at a rate of 10,4% per annum. 3.3.1 Which bank account will give Sam the greatest accumulated balance at the end of the five-year period? Show all your calculations.

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