Dsc1630 Assessment 3 Sem 2 Of 2024 Expected Questions And Answers

Question 1 Quarterly payments of R7 000 are made into an account earning 6,57% per year, compounded
monthly. The accumulated amount after 12 years is
Not yet
answered Monthly interest rate = 6.57% / 12 = 0.5475%
Quarterly interest rate = (1 + 0.005475)^3 - 1 = 0.0165 (or 1.65%)
Marked out of a. R122 095,12.
1.00
Quarterly payments in 12 years = 12 years * 4 quarters/year = 48
b. R506 569,30. periods.
Flag FV = 7000 * (((1 + 0.0165)^48 - 1) / 0.0165) * (1 + 0.0165)
question c. R231 205,73. FV R506,569.30
d. R336 000,00.

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, Cyril buys a house and makes a down payment of 35% of the price of the house. He manages to secure a loan at an interest rate
of 13,25% per year, compounded monthly, for a period of 20 years. His monthly payment is R10 437,26.
The size of the down payment (to the nearest rand) is


a. R307 125.
b. R527 959. pmt =10 437.26
c. R472 500. i/yr=13.25
p/yr=12
d. R876 730. *p/yr 20
pv=? 877 500

ful price 13500000




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