DSC1630 EXAM PACK 2022

DSC1630 EXAM PACK 2022 S - The study-notes marketplace Downloaded by: tebzamabalane | Distribution of this document is illegal S - The study-notes marketplace mm UNIVERSITY EXAMINATIONS mm MAY/JUNE 2020 DSC1630 INTRODUCTORY FINANCIAL MATHEMATICS 100 Marks Duration: 2 Hours 30 Minutes EXAMINERS: First: Mrs MF Immelman Second: Mrs WA Van Hoepen This paper consists of 13 pages, including a list of formulas and a date table. Programmable calculator permissible. Instructions: Answer all the questions. The paper comprises of 30 questions that count a total of 100 marks. Only ONE option, indicated as [1] [2] [3] [4] [5] per question is correct. Marks will not be deducted for incorrect answers. The answers to the examination MCQ may only be submitted online. Please contact if you do experience any myUnisa problems during the examination. Disclaimer: We would like to remind you that Unisa has a zero tolerance for any form of plagiarism or examination dishonesty. Page 1 of 13 Open Rubric S - The study-notes marketplace Downloaded by: tebzamabalane | Distribution of this document is illegal S - The study-notes marketplace CONFIDENTIAL Page 2 of 13 DSC1630 May/June 2020 Question 1 The amount of money you have to invest at a simple interest rate of 15% per annum, to earn R5 250 interest after three years, is [1] R3 620,69. [2] R10 000,00. [3] R5 249,48. [4] R122 500,00. [5] R11 666,67. Question 2 A bank’s simple discount rate is 12% per annum. You need to pay the bank R5 000 in six months’ time. The amount of money that you will receive from the bank now is [1] R4 700,00. [2] R4 716,98. [3] R4 724,56. [4] R5 300,00. [5] R5 319,15. Question 3 Jacob invests R8 350 in an account that pays simple interest. After six years,the amount that he receives (accumulated sum) is R12 859. The simple interest rate on the investment, rounded to two decimal places, is [1] 0,75% per year. [2] 45,09% per year. [3] 1,08% per year. [4] 9,00% per year. [5] none of the above. Question 4 The accumulated amount that Mabe will receive after 38 months if she deposits R13 300 into an accwhere money is worth 11,35% per year compounded every two months is [1] R14 117,08. [2] R15 690,19. [3] R18 080,24. [4] R18 865,83. [5] R18 988,31. Page 2 of 13 S - The study-notes marketplace Downloaded by: tebzamabalane | Distribution of this document is illegal S - The study-notes marketplace CONFIDENTIAL Page 3 of 13 DSC1630 May/June 2020 Question 5 Sakkie borrowed an amount of money from Lulu. The loan willbe paid back by means of payments of R25 000 every second month for six years. An interest rate of 7,75% per year compounded every second month will be applicable. The present value of the loan is [1] R238 067,35. [2] R400 738,72. [3] R716 113,21. [4] R900 000,00. [5] R1 136 672,90. Question 6 On 16 April,Nkosideposited an amount of money in a savings account that earns 8,5% per annum, simple interest. He intends to withdraw the balance of R2 599 on 8 December of the same year (not leyear) to buy himself a new bicycle. The amount of money that Nkosi deposited is [1] R2 460,03. [2] R2 461,82. [3] R2 463,60. [4] R2 465,46. [5] R2 458,18. Question 7 Bi Cycle agreed to establish the Spike Fund from which they will pay Handle R2 500 per month indefinitely as compensation for injuries he sustained while working on the Riley project. Money is worth 12,5% per year, compounded monthly. The opening balance of this fund is [1] R170 792,83. [2] R200 000,00. [3] R240 000,00. [4] R281 869,63. [5] R492 680,86. Question 8 A furniture company charges a finance fee of 0,13% per week on outstanding balances. The effective rate per annum is [1] 6,76%. [2] 6,99%. [3] 13,01%. [4] 13,86%. [5] 25%. Page 3 of 13 S - The study-notes marketplace Downloaded by: tebzamabalane | Distribution of this document is illegal S - The study-notes marketplace CONFIDENTIAL Page 4 of 13 DSC1630 May/June 2020 Question 9 An amount borrowed at 29% interest per year, compounded continuously, has accumulated to R38 2after four years.The initial amount borrowed was [1] R7 160,73. [2] R12 000,00. [3] R12 005,53. [4] R13 823,05. [5] R17 721,85. Question 10 Jack will need R20 000 to buy his brother’s old car in two years’ time. He wants to start saving part of his weekly salary in an account that returns 9,3% interest per year, compounded weekly. The minimum weekly payment that he needs to make into this investment account to have enough in two years’ tiis [1] R175,15. [2] R767,45. [3] R210,92. [4] R909,11. [5] none of t