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DSC1630 Assignment 1 First Semester 2023

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This document contain workings and solutions for the assignment 1 of first semester 2023. Distinction is always guaranteed!!!

Institution
University Of South Africa (Unisa)
Course
DSC1630 - Introductory Financial Mathematics (DSC1630)

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DSC1630
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
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Institution
University of South Africa (Unisa)
Course
DSC1630 - Introductory Financial Mathematics (DSC1630)

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Uploaded on
February 24, 2023
Number of pages
14
Written in
2022/2023
Type
CASE
Professor(s)
Mthombeni
Grade
A+

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