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DSC1630 Assignment 03 2021 AS PER UPDATED TUTORIAL LETTER

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This document includes the assignment questions, answers and workings. It also includes the Sharp EL-738F calculator steps where applicable.

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University Of South Africa (Unisa)
Course
DSC1630 - Introductory Financial Mathematics








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DSC1630 - Introductory Financial Mathematics
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DSC1630

Introductory Financial Mathematics

Department of Decision Sciences

Assignment 03 for 2021 AS PER UPDATED TUTORIAL
LETTER

Unique assignment number: 285271
Due Date: 05 July 2021




Question 1

An amount of R600 is invested every month for eight years. The applicable interest rate is
14,65% per year, compounded quarterly. The accumulated amount of these monthly
payments is approximately

[1] R321 200.
[2] R57 600.
[3] R109 300.
[4] R107 500.
[5] R108 400.

Answer:

Convert the quarterly interest to a monthly interest then work out the FV of the monthly
payments.

The time line is:
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