Exam (elaborations)
Fin2603 Assignment 2 semester 1 2024
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Assessment 2: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=180FIN2603-24-S1 Welcome Message Assessment 2
QUIZ
Started on Tuesday, 23 April 2024, 8:22 AM
State Finished
Completed on Tuesday, 23 April 2024, 8:47 AM
Time taken 24 mins 19 secs
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 speci�ed 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%
1 of 10 4/23/2024, 8:47
,Assessment 2: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=180
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 �ve successive years at 9% per annum.
(b) R5 209.22 invested for �ve 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
2 of 10 4/23/2024, 8:47
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