2022
DSC1630-INTRODUCTORY
FINANCIAL MATHEMATICS
SEMESTER 2
ASSIGNMENT 03 SOLUTIONS
Structural Engineer
M.Sc.,B.Sc. Hons. Civil Engineering
Moscow Russia
WhatsApp 081 837 6138
, NOTE: ARRANGEMENT OF QUESTIONS MAY DIFFER BUT ALL ASSIGNMENT
QUESTIONS ARE COVERED HERE
QUESTION 1
In three years’ time Mada will need R145 000 to pay for her son’s education. She
immediately starts to make monthly deposits into an account earning 11,05% interest
per year, compounded monthly. Mada’s monthly deposit is
[1] R4 750,55.
[2] R4 707,20.
[3] R3 384,18.
[4] R4 027,78.
[5] R3 415,34.
QUESTION 2
You took out an endowment policy for an annual payment of R1 500 that will increase
annually with R150. The policy matures in 20 years with an expected annual interest
rate of 15%. The amount that you can expect to receive after 20 years is
[1] R236 108,96.
[2] R169 031,91.
[3] R256 108,96.
[4] R166 897,15.
[5] none of the above.
QUESTION 3
The accumulated amount, after eight years of monthly deposits of R1 900 each, paid
into an account earning 9,7% interest per year, compounded monthly, is
[1] R395 077,74.
[2] R274 069,25.
[3] R182 400,00.
[4] R126 532,64.
[5] none of the above.
DSC1630-INTRODUCTORY
FINANCIAL MATHEMATICS
SEMESTER 2
ASSIGNMENT 03 SOLUTIONS
Structural Engineer
M.Sc.,B.Sc. Hons. Civil Engineering
Moscow Russia
WhatsApp 081 837 6138
, NOTE: ARRANGEMENT OF QUESTIONS MAY DIFFER BUT ALL ASSIGNMENT
QUESTIONS ARE COVERED HERE
QUESTION 1
In three years’ time Mada will need R145 000 to pay for her son’s education. She
immediately starts to make monthly deposits into an account earning 11,05% interest
per year, compounded monthly. Mada’s monthly deposit is
[1] R4 750,55.
[2] R4 707,20.
[3] R3 384,18.
[4] R4 027,78.
[5] R3 415,34.
QUESTION 2
You took out an endowment policy for an annual payment of R1 500 that will increase
annually with R150. The policy matures in 20 years with an expected annual interest
rate of 15%. The amount that you can expect to receive after 20 years is
[1] R236 108,96.
[2] R169 031,91.
[3] R256 108,96.
[4] R166 897,15.
[5] none of the above.
QUESTION 3
The accumulated amount, after eight years of monthly deposits of R1 900 each, paid
into an account earning 9,7% interest per year, compounded monthly, is
[1] R395 077,74.
[2] R274 069,25.
[3] R182 400,00.
[4] R126 532,64.
[5] none of the above.
