BNU1501 Assessment 4 Semester 2 2023-Due Date: 15 September 2023 .

BNU1501 Assessment 4 Semester 2 2023-Due Date: 15 September 2023 . 100% CORRECT questions, answers, workings and explanations.Question 1 If a vertical and horizontal number line intersect perpendicularly, they form right angles (of 90%) with each other and a co-ordinate system of axes is formed, the horizontal line is called: [1] Quadrants [2] y-axis [3] Co-ordinates [4] x-axis Question 2 The point at which the two axes intersect (cross each other) is called: [1] Centre [2] Vertex [3] Origin [4] Starting point Question 3 Two lines always intersect each other at [1] two points [2] one point [3] three points [4] do not intersect each other Question 4 What is the gradient and the y-intercept for a straight line with the equation y = —2x — 37 [1] Slope = 2, y-intercept = 3 [2] Slope = 2, y-intercept = —3 [3] Slope = —2, y-intercept = —3 [4] Slope = 3, y-intercept = 2 Question 5 A straight line crosses the x-axis at (3, 0) and the y-axis at (0, 2). What is the y-intercept for this line? BNU1501/Ass 4/S2/2023 [I] y-intercept=2 [2] y-intercept =0 [3] y-intercept = 6 [4] y-intercept = 3 Question 6 What will be the slope of the line givenby ax + by +¢c =0? -2 Pl - EIN. N 4 - Question 7 The straight line given by the equation x = 11 is [1] parallel to x-axis [2] passing through the origin [3] passing through the point (0,11) [4] parallel to y-axis Question 8 [ 1 -V by —4 -2 ’ / Which of the following straight lines equations is represented by the graph shown above? 1] y=-2x+4 1 2] y=3x-2 BNU1501/Ass 4/S2/2023 Question 9 A man walks near a wall, such that the distance between him and the wall is 10 units. Consider the wall to be the y-axis. The path travelled by the man is [1] y = 2] y=10 B] x= 4] x= 10 Question 10 Which of the following coordinates does not satisfy the equation y = —2x + 37 [ (=21) 2] (=15) 31 (1) 41 (-1 Simple interest Question 11 Sam borrowed some money from his friend at simple interest of 6% per annum. He returned his friend R15 600. After how much time did Sam return the money if he borrowed R12 000? [1] 8 years [2] 2.5 years [3] 5 years [4] 3.5 year Question 12 Khabazela paid R9 600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan? [1] 2] 3] [4] BNU1501/Ass 4/S2/2023 R12 000 R16 400 R 12 500 R18 000 Compound interest Question 13 Compute the compound interest on R16 000 for 2 years 10% per annum when compounded half yearly. [1] 2] 3] [4] R18 600 R17 640 R18 640 R17 600 Question 14 At what rate of compound interest per annum will a sum of R1 200 become R1 348.32 in 2 years? [1] 2] 3] [4] 6 % 6.5% 7% 7.5% Future value of an annuity Question 15 A 5-year ordinary annuity has a present value of R1 000. If the interest rate is 8 percent, the amount of each annuity payment is closest to which of the following? [1] 2] 3] [4] R231.91 R250.44 R181.62 R184.08 BNU1501/Ass 4/S2/2023 Question 16 Phila deposits R5 000 in an ordinary annuity at the end of each quarter in an account that earns 6% interest compounded quarterly. What is the future value of Phila’s annuity in 3 years? [1] R65206.05 [2] R56206.05 [3] RI.32 [4] R65680.32 Present value of an annuity Question 17 Christo wants to buy a small wine farm worth R8 500 000. He plans to sell his current home for R3 400 000 which he will use as a deposit for the purchase of the farm. He secures a loan with a bank with a repayment period of 10 years and an interest rate of 9,5% compounded monthly. Calculate his monthly repayments. [1] R [2] R.48 [3] R65992,75 [4] R484 509,93 Question 18 Anele takes out a student loan for his first year of BCom. The loan agreement states that the repayment period is equal to 1,5 years for every year of financial assistance granted and that the loan is subject to an interest rate of 10,5% p.a. compounded monthly. If Anele pays a monthly instalment of R1 446,91, calculate the loan amount. [1] R28 774,75 [2] R28 665,06 [3] R24 574,15 [4] R24000,14 Amortisation Question 19 An amortization table BNU1501/Ass 4/S2/2023 [1] breaks each payment into the amount that goes toward interest and the amount that goes toward the principal [2] is a special table used in a break room to make people feel equitable [3] separates time value of money tables into present value and future value [4] separates time value of money tables into single amounts and streams of cash Question 20 You are considering borrowing R10 000 for 3 years at an annual interest rate of 6%. The loan agreement calls for 3 equal payments, to be paid at the end of each of the next 3 years. (Payments include both principal and interest.) The annual payment that will fully pay off (amortize) the loan is closest to [1] 2] 3] [4] R2 890 R2 674 R3 741 R4 020