Christopher invests  into an account which pays out a lump sum at the end of  If he gets  at the end of the period, what compound interest rate did the bank offer him? Give your answer correct to one decimal place.

The price of a box of popcorn is R15. In 4 years' time if the inflation rate is 11% p.a. A box of popcorn will cost R?

Note: Use comma (,) as your decimal and NOT a point (.)

Emma wants to invest at a compound interest rate of . Calculate the balance accumulated by the end of  years. As usual with financial calculations, round your answer to two decimal places, but do not round off until you have reached the solution.

You are going to invest R5 000 and you

have a choice of two bank accounts….

• Account 1 is a

  simple interest account paying 7% interest per annum.

• Account 2 is a

  compound interest account paying 5% interest per annum.

If you are to withdraw your money after 6

years, which account would have the most money?

A person invests an amount of R6 740 in a savings account that pays simple interest at a rate of 11% per annum.

Calculate the INTEREST accumulated by the end of 3 years.

Bonnie bought a stove for R3 750. After 3 years she had finished paying for it and the R956,25 interest that was charged for hire purchase. Determine the rate of simple interest that was charged.

Billy opens a savings account that pays simple interest of 4.6% per annum. If he earns R39,10 interest over 5 years how much did he invest to start with?

Tlali wants to buy a new computer and decides to buy one on a hire purchase agreement. The computer's cash price is R4 250. He will pay it off over 30 months at an interest rate of 9,5% p.a. An insurance premium of R10,75 is added to every monthly payment. How much are his monthly payments?

Is the following statement True or False?

Hire purchase is charged at a simple interest rate.

Is the following statement True or False?

When calculating hire purchase, we make use of the compound interest formula.