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Questions and answers to DSC1630 assignment 1. 1. Noma invests R1 500 in an account earning 6,57% simple interest. The balance in the account 16 months later will equal. 2. A bank’s discount rate is 12%. You need to pay the bank R5 000 in six months time. The amount of money that you will now receive from the bank equals. 3. Frieda borrows R7 500 from the the bank at an interest rate of 26,00% per year, compounded weekly. The amount that Frieda will have to pay him back after 78 weeks will ...

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