Fin2603 Assignment 02 Semester 01 2024[ Quality Answers] DISTINCTION GUARANTEED

UNISA  2024  FIN2603-24-S1  Welcome Message  Assessment 2

QUIZ




Started on Friday, 12 April 2024, 5:28 PM
State Finished
Completed on Friday, 12 April 2024, 6:34 PM
Time taken 1 hour 5 mins


Question 1

Complete

Marked out of 1.00




... is the interest earned on a given deposit that has become part of the sum at the end of a specified period.


a. Simple interest

b. Compound interest
c. The interest rate

d. The internal rate of return




Question 2

Complete

Marked out of 1.00




At what annual interest rate must a single amount of R5 000 be invested for 5 years to yield approximately R7 500?


a. 7.20%

b. 10.76%
c. 8.45%

d. 9.86%

, Question 3

Complete

Marked out of 1.00




Ben Johnson has arranged for a 60-day loan at an annual interest rate of 7.5% per annum. If the loan amount is R1 000 000,
how much interest will Mr Johnson pay in rand terms? (Assume a 360-day year.)


a. R25 000
b. R75 000

c. R0

d. R12 500




Question 4

Complete

Marked out of 1.00




Calculate the difference between the following two investment proposals.
(a) R1 401.82 invested annually for five successive years at 9% per annum.
(b) R5 209.22 invested for five years at 10% per annum compound interest.


a. R0

b. R 80.25
c. R100.35

d. R 36.10




Question 5

Complete

Marked out of 1.00




Calculate the future value (FV) of R15 000 invested for six years at an interest rate of 8%, compounded monthly.


a. R26 734

b. R14 026
c. R23 803

d. R24 260