ASSIGNMENT 2 SEMESTER 2 2024
UNIQUE NO. 234642
DUE DATE: 22 AUGUST 2024
, Question 1:
Mary invested R40,000 and aims to have R56,000 in 30 months. What is the yearly
interest rate, compounded semi-annually?
a. 7.21%
b. 8.00%
c. 13.92%
d. 14.41%
Answer: d. 14.41%
Question 2:
Bhongo received R32,412.87 after investing in an account with a continuous
compounding interest rate of 10.15% per year. What was the amount he invested 57
weeks earlier?
a. R29,000.00
b. R29,153.86
c. R32,768.16
d. R36,227.38
Answer: b. R29,153.86