, DSC1630 Assignment 2 (COMPLETE ANSWERS) Semester 2
2024 (234642) - DUE 22 August 2024 ; 100% TRUSTED
Complete, trusted solutions and explanations.
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
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