Faith needs R150 000 on 17 November 2025 to upgrade her bakery. On 8 January 2025 she deposited an amount into an account earning 13,45% interest per year, compounded monthly, and being credited on the first of every month. If fractional compounding is used for the full term, then the amount that Faith deposited on 8 January 2025 was

A bank’s discount rate is 12%. You need to pay the bank R5 000 in six months’ time. Calculate the amount of money that you will receive from the bank now.

[Answer format: Rd ddd,dd (R: rand; d: digit)]

[Example of an answer in the correct format: R1 234,56]

Given must pay Gontse R27 000 twenty-five months from now. He decides to pay her back earlier. If a simple interest rate of 9,4% per year is applicable, then the amount that Gontse will receive from Given 12 months from now is

Abid won R120 000 in a competition and immediately deposited the money into a savings account earning 8,5% interest per annum, compounded monthly. Five months after winning, he withdrew a certain amount for his son’s education. The balance in his account one year after winning the money was R99 087,42. The amount he withdrew for his son’s education was

Fikile wants to upgrade his spaza shop. On 8 January 2025 he deposited R2 500 into an account earning 13,45% interest per year, compounded monthly, and being credited on the 1st of every month, while simple interest is applicable for the odd period calculations. The amount that Fikile will receive on 17 November 2025 is

On 16 April Jermaine deposited an amount of money in a savings account that earns 8,5% simple interest. He intends to withdraw the balance of R2 599 on 8 December of the same year to buy his little sister a sound box for Christmas. The amount of money that Jermaine deposited is

An amount of money accumulates to R45 946 at a continuous compounding rate of 8% per year, after 57 months. The original amount is

If Mabel earns a nominal interest rate of 16,5% per annum, compounded at the end of every second month on a savings account, then the effective interest rate is

Ngoako received an amount of R2 340 from the bank at a discount rate of 12% per annum at the beginning of September. The future value of the loan at the beginning of July the following year is

Sibusiso has been given the option of either paying his R2 500 loan now or settling it for R2 730 after four months. If he chooses to pay after four months, the simple interest rate at which he would be charged, is