FIN2603 ASSIGNMENT 2 2024

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

QUIZ




Started on Thursday, 11 April 2024, 2:15 PM
State Finished
Completed on Thursday, 11 April 2024, 3:14 PM
Time taken 58 mins 36 secs


Question 1 ... is the interest earned on a given deposit that has
Complete become part of the sum at the end of a specified
Marked out of period.
1.00

a. Simple interest
b. Compound interest
c. The interest rate
d. The internal rate of return




Question 2 At what annual interest rate must a single amount of R5
Complete 000 be invested for 5 years to yield approximately R7
Marked out of 500?
1.00

a. 7.20%
b. 10.76%
c. 8.45%
d. 9.86%




Question 3 Ben Johnson has arranged for a 60-day loan at an
Complete annual interest rate of 7.5% per annum. If the loan
Marked out of amount is R1 000 000, how much interest will Mr
1.00 Johnson pay in rand terms? (Assume a 360-day year.)


a. R25 000
b. R75 000
c. R0
d. R12 500