DSC1630 Assignment 2
(COMPLETE ANSWERS)
Semester 2 2024 (234642) - DUE
22 August 2024
100% GUARANTEED
,DSC1630 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2024 (234642) - DUE 22 August 2024
Question 1 Complete Mark 1.00 out of 1.00 Question 2
Complete Mark 1.00 out of 1.00 QUIZ Mary invested R40
000 in order to have R56 000 available in 30 months’
time. The yearly rate, compounded semi-annually, is a.
7,21%. b. 8,00%. c. 13,92%. d. 14,41%. Bhongo received
R32 412,87 after investing an amount of money in an
account earning interest at a continuous compounding
rate of 10,15%per year. The amount of money that he
invested 57 weeks earlier, is approximately a. R29
000,00. b. R29 153,86. c. R32 768,16. d. R36 227,38.
Question 3 Complete Mark 1.00 out of 1.00 Question 4
Complete Mark 1.00 out of 1.00 Question 5 Complete
Mark 1.00 out of 1.00 To pay off a loan of R7 000 due now
and a loan of R2 000 due in 14 months’ time, Mrs
Skosana agrees to make three payments in two, fi ve
andten months’ time respectively. The second payment is
to be double the fi rst and the third payment is to be
triple the fi rst. What is theapproximated size of the
payment at month fi ve if interest is calculated at 16%
per year, compounded monthly? a. R1 582,43 b. R3
000,00 c. R3 164,86 d. R4 500,00 Spiderman decides that
he would like to buy his lovely wife, Spider woman, a new
car when she turns 30 in six years’ time. He deposits R6
000 atthe beginning of each month into an account
earning 8,94% interest per year, compounded monthly.
The amount that Spider man (rounded tothe nearest
rand) will have available six years from now is a. R333
412. b. R432 000. c. R568 948. d. R573 187. Thulani
borrowed an amount of money from his father to open
the Generous Grain Shop. The loan will be paid back by
, means of payments ofR25 000 each every second month
for six years. An interest rate of 7,5% per year
compounded every two months will be applicable. The
presentvalue of the loan is a. R238 067,35. b. R400
738,72. c. R721 181,68. d. R900 000,00. Question 6
Complete Mark 1.00 out of 1.00 Question 7 Complete
Mark 1.00 out of 1.00 Question 8 Complete Mark 1.00 out
of 1.00 Quarterly deposits of R400 each are made into a
bank account earning interest at 16% per year
compounded quarterly. The approximate time(in number
of quarters) that it will take for the account to accumulate
to R40 000 is a. 41 quarters. b. 28 quarters. c. 2 quarters.
d. 40 quarters. For four years Gundo paid R4 500 per
month into a savings account earning 6,9% interest per
year, compounded monthly. She then stopped hermonthly
payments, but left the money in the account to earn more
interest. It still earned 6,9% interest per year, but at that
time thecompounding periods changed to quarterly. The
balance in the account 10 years after she stopped her
monthly payments, is a. R188 285,49. b. R216 000,00. c.
R247 935,56. d. R491 413,14. An interest rate of 14,9%
per year, compounded quarterly, is equivalent to a
weekly compounded interest rate per year of a. 14,65%.
b. 14,88%. c. 15,16%. d. 19,02%. Question 9 Complete
Mark 1.00 out of 1.00 Question 10 Complete Mark 1.00
out of 1.00 Question 11 Complete Mark 1.00 out of 1.00
The accumulated sum of R12 000 invested at a
continuous rate of 16,5% per annum for a period of fi ve
years is a. R14 748,73. b. R23 217,51. c. R27 382,57. d.
R36 049,99. On 5 April Lunga invested R75 000 in an
account paying 8,37% interest per year, compounded
monthly. Interest is credited on the 1st of everymonth.
(COMPLETE ANSWERS)
Semester 2 2024 (234642) - DUE
22 August 2024
100% GUARANTEED
,DSC1630 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2024 (234642) - DUE 22 August 2024
Question 1 Complete Mark 1.00 out of 1.00 Question 2
Complete Mark 1.00 out of 1.00 QUIZ Mary invested R40
000 in order to have R56 000 available in 30 months’
time. The yearly rate, compounded semi-annually, is a.
7,21%. b. 8,00%. c. 13,92%. d. 14,41%. Bhongo received
R32 412,87 after investing an amount of money in an
account earning interest at a continuous compounding
rate of 10,15%per year. The amount of money that he
invested 57 weeks earlier, is approximately a. R29
000,00. b. R29 153,86. c. R32 768,16. d. R36 227,38.
Question 3 Complete Mark 1.00 out of 1.00 Question 4
Complete Mark 1.00 out of 1.00 Question 5 Complete
Mark 1.00 out of 1.00 To pay off a loan of R7 000 due now
and a loan of R2 000 due in 14 months’ time, Mrs
Skosana agrees to make three payments in two, fi ve
andten months’ time respectively. The second payment is
to be double the fi rst and the third payment is to be
triple the fi rst. What is theapproximated size of the
payment at month fi ve if interest is calculated at 16%
per year, compounded monthly? a. R1 582,43 b. R3
000,00 c. R3 164,86 d. R4 500,00 Spiderman decides that
he would like to buy his lovely wife, Spider woman, a new
car when she turns 30 in six years’ time. He deposits R6
000 atthe beginning of each month into an account
earning 8,94% interest per year, compounded monthly.
The amount that Spider man (rounded tothe nearest
rand) will have available six years from now is a. R333
412. b. R432 000. c. R568 948. d. R573 187. Thulani
borrowed an amount of money from his father to open
the Generous Grain Shop. The loan will be paid back by
, means of payments ofR25 000 each every second month
for six years. An interest rate of 7,5% per year
compounded every two months will be applicable. The
presentvalue of the loan is a. R238 067,35. b. R400
738,72. c. R721 181,68. d. R900 000,00. Question 6
Complete Mark 1.00 out of 1.00 Question 7 Complete
Mark 1.00 out of 1.00 Question 8 Complete Mark 1.00 out
of 1.00 Quarterly deposits of R400 each are made into a
bank account earning interest at 16% per year
compounded quarterly. The approximate time(in number
of quarters) that it will take for the account to accumulate
to R40 000 is a. 41 quarters. b. 28 quarters. c. 2 quarters.
d. 40 quarters. For four years Gundo paid R4 500 per
month into a savings account earning 6,9% interest per
year, compounded monthly. She then stopped hermonthly
payments, but left the money in the account to earn more
interest. It still earned 6,9% interest per year, but at that
time thecompounding periods changed to quarterly. The
balance in the account 10 years after she stopped her
monthly payments, is a. R188 285,49. b. R216 000,00. c.
R247 935,56. d. R491 413,14. An interest rate of 14,9%
per year, compounded quarterly, is equivalent to a
weekly compounded interest rate per year of a. 14,65%.
b. 14,88%. c. 15,16%. d. 19,02%. Question 9 Complete
Mark 1.00 out of 1.00 Question 10 Complete Mark 1.00
out of 1.00 Question 11 Complete Mark 1.00 out of 1.00
The accumulated sum of R12 000 invested at a
continuous rate of 16,5% per annum for a period of fi ve
years is a. R14 748,73. b. R23 217,51. c. R27 382,57. d.
R36 049,99. On 5 April Lunga invested R75 000 in an
account paying 8,37% interest per year, compounded
monthly. Interest is credited on the 1st of everymonth.
