DSC1630
ASSIGNMENT 3 SEMESTER 1 2023
, 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
A. R321 200.
B. R57 600.
C. R109 300.
D. R107 500.
E R108 400
QUESTION 2
Moshe will need R145 000 in three years' time, to open a bakery. He
immediately starts to make monthly deposits into an account earning 11,05%
interest per year, compounded monthly. Moshe's monthly deposit is
A. R3 384,18.
B. R3 415,34.
C. R4 750,55.
D. R4 027,78.
E R4 707,20
QUESTION 3
After an accident Nomfundo was awarded an amount from the Road Accident
Fund as compensation for her injuries. She chose to receive R18 900 per month
indefinitely. If money is worth 9,95% per year, compounded monthly, then the
amount awarded is approximately
A. R7 252 333.
B. R6 565 554.
C. R2 279 397.
D. R189 950.
E. none of the above.
Page 1
ASSIGNMENT 3 SEMESTER 1 2023
, 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
A. R321 200.
B. R57 600.
C. R109 300.
D. R107 500.
E R108 400
QUESTION 2
Moshe will need R145 000 in three years' time, to open a bakery. He
immediately starts to make monthly deposits into an account earning 11,05%
interest per year, compounded monthly. Moshe's monthly deposit is
A. R3 384,18.
B. R3 415,34.
C. R4 750,55.
D. R4 027,78.
E R4 707,20
QUESTION 3
After an accident Nomfundo was awarded an amount from the Road Accident
Fund as compensation for her injuries. She chose to receive R18 900 per month
indefinitely. If money is worth 9,95% per year, compounded monthly, then the
amount awarded is approximately
A. R7 252 333.
B. R6 565 554.
C. R2 279 397.
D. R189 950.
E. none of the above.
Page 1
