MAC2602 Assessment 1
Started on Monday, 17 March 2025, 6:05 PM
State Finished
Completed on Monday, 17 March 2025, 7:02 PM
Time taken 57 mins 8 secs
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 3.00 out of 3.00
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Question text
Maurice received a cash amount of R1 000 for a casual job that he did for a friend. Should he
invest this R1 000 in an account at Coptic Bank that has indicated that an annually compounded
interest rate of 7,9% per annum would be earned, what will the value of his investment be
after five years? Set your calculator to four decimal places and round your final answer to the
nearest rand. If slight rounding differences occur - choose the alternative that is closest to your
answer.
(a) R18 377
(b) R 1 463
(c) R 684
(d) R 1 578
Select one:
a.
,R 684
b.
R 1 463
c.
R 1 578
d.
R18 377
Question 2
Correct
Mark 3.00 out of 3.00
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Question text
You are helping a fellow student in your study group to understand how to use factor Tables in
the calculation of TMV problems. As part of your explanation, you need to indicate to him
which interest rate factor to use in the calculation of the present value of an annuity received
from years 1 to 9 at an interest rate of 8%?
(a) Table B - 6,247
(b) Table D - 12,488
(c) Table A - 0,500
(d) Table C - 1,990
Select one:
a.
Table B - 6,247
b.
Table D - 12,488
, c.
Table C - 1,990
d.
Table A - 0,500
Question 3
Correct
Mark 3.00 out of 3.00
Flag question
Question text
A loan has a nominal interest rate of 14% per annum. Interest is compounded every three
months. Which one of the following options reflects the effective annual interest rate on the
loan? Set your calculator to four decimal places. Round the final interest rate to two decimal
places. Slight rounding differences may occur - choose the alternative that is closest to your
answer.
(a) 14,75%
(b) 14,67%
(c) 13,80%
(d) 13,32%
Select one:
a.
14,67%
b.
(14,75%
c.
13,80%
Started on Monday, 17 March 2025, 6:05 PM
State Finished
Completed on Monday, 17 March 2025, 7:02 PM
Time taken 57 mins 8 secs
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 3.00 out of 3.00
Flag question
Question text
Maurice received a cash amount of R1 000 for a casual job that he did for a friend. Should he
invest this R1 000 in an account at Coptic Bank that has indicated that an annually compounded
interest rate of 7,9% per annum would be earned, what will the value of his investment be
after five years? Set your calculator to four decimal places and round your final answer to the
nearest rand. If slight rounding differences occur - choose the alternative that is closest to your
answer.
(a) R18 377
(b) R 1 463
(c) R 684
(d) R 1 578
Select one:
a.
,R 684
b.
R 1 463
c.
R 1 578
d.
R18 377
Question 2
Correct
Mark 3.00 out of 3.00
Flag question
Question text
You are helping a fellow student in your study group to understand how to use factor Tables in
the calculation of TMV problems. As part of your explanation, you need to indicate to him
which interest rate factor to use in the calculation of the present value of an annuity received
from years 1 to 9 at an interest rate of 8%?
(a) Table B - 6,247
(b) Table D - 12,488
(c) Table A - 0,500
(d) Table C - 1,990
Select one:
a.
Table B - 6,247
b.
Table D - 12,488
, c.
Table C - 1,990
d.
Table A - 0,500
Question 3
Correct
Mark 3.00 out of 3.00
Flag question
Question text
A loan has a nominal interest rate of 14% per annum. Interest is compounded every three
months. Which one of the following options reflects the effective annual interest rate on the
loan? Set your calculator to four decimal places. Round the final interest rate to two decimal
places. Slight rounding differences may occur - choose the alternative that is closest to your
answer.
(a) 14,75%
(b) 14,67%
(c) 13,80%
(d) 13,32%
Select one:
a.
14,67%
b.
(14,75%
c.
13,80%
