Why do banks practice fractional reserve banking? A. It increases the value of collateral used to secure mortgages. B. It encourages customers to accept higher interest rates on loans. C. It allows them to lend more money than they hold in deposits. D. It ensures that all customers can withdraw their funds at once.

You deposit \( \$ 1000 \) each year into an account earning \( 7 \% \) interest compounded annually. How much will you have in the account in 35 years?

"In addition, she said banks operating in Africa need to have a more end-to-end approach to risk management, considering bankability at all stages." As a follow up to Question 1 above and in addition to the solutions recommended in the article, recommend how Southern African financial institutions can improve their risk management strategy.

Question 28 In which one of the following scenarios would the person be ineligible or disqualified from being the director of a company in terms of the companies act? A. Clark Wentzel, a rehabilitated insolvent individual, has been appointed as the Managing Director of Wing It Transport (Pty) Ltd. B. The shareholders of Avocado Cutlery (Pty) Ltd have decided to appoint Avocado Cutlery (Pty) Ltd as one of its own directors. C. Gus Jung was released from prison 20 years ago and has been appointed as a director of Free- Your-Mind (Pty) Ltd. D. Stephany Spielberg is 18 years of age and has opened her own registered private company, of which she is the director.

You deposit \( \$ 500 \) each month into an account earning \( 6 \% \) interest compounded monthly. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn? \( \$ \)

Find the final hourly wage if a \( \$ 9.00 \) starting wage is increased by \( 4.5 \% \) each year for 8 years.