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ASSIGNMENT 1
FIRST SEMSTER 2023
BY: MTHOMBENI: 0767297208
1
, PLEASE SEE WORKINGS FROM PAGE 6
1.A sum of R1 000 is due in five months’ time from now, at a simple interest rate of 12% per annum.
The present value of the sum is
A.R952,38.
B.R567,43.
C.R1 050,00.
D.R625,00.
2.Alton invests R8 350 in an account that pays simple interest. After six years, the amount that he
receives back is R12 859. The simple interest rate on the investment, rounded to two decimal places, is
A.0,75% per year.
B.45,09% per year.
C.1,08% per year.
D.9,00% per year.
3.An amount of R4 317,26 was borrowed on 5 May at a simple interest rate of 15% per year. The loan
will be worth R4 500 on
A.16 August.
B.12 August.
C.21 August.
D. 9 October.
04.An effective rate of 29,61% corresponds to a nominal rate, compounded weekly, of
A.29,53%.
B.29,61%.
C.34,35%.
D.26,00%.
2
ASSIGNMENT 1
FIRST SEMSTER 2023
BY: MTHOMBENI: 0767297208
1
, PLEASE SEE WORKINGS FROM PAGE 6
1.A sum of R1 000 is due in five months’ time from now, at a simple interest rate of 12% per annum.
The present value of the sum is
A.R952,38.
B.R567,43.
C.R1 050,00.
D.R625,00.
2.Alton invests R8 350 in an account that pays simple interest. After six years, the amount that he
receives back is R12 859. The simple interest rate on the investment, rounded to two decimal places, is
A.0,75% per year.
B.45,09% per year.
C.1,08% per year.
D.9,00% per year.
3.An amount of R4 317,26 was borrowed on 5 May at a simple interest rate of 15% per year. The loan
will be worth R4 500 on
A.16 August.
B.12 August.
C.21 August.
D. 9 October.
04.An effective rate of 29,61% corresponds to a nominal rate, compounded weekly, of
A.29,53%.
B.29,61%.
C.34,35%.
D.26,00%.
2
