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MAC2602-25-S2
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Grandfather Julius just got news of the birth of his first grandson. He plans to invest an amount of money at a compound interest rate of 4% to have a total amount of R100 000 after 20 years to pay for his newborn grandson’s tertiary education. required to calculate the amount that Julius will need to invest now? Set your calculator to four decimal places and round your final answer to the nearest rand. If s light rounding differences occur - choose the alternative that is closest to your answer.
(a) R45 639
(b) R 7 358
(c) R 5 200
(d) R 1 195
Tebogo invested an amount of R3 000 today in a money market account that bears interest at 5,5% compound interest per annum. What will the amount of his investment be after 5 years? Set your calculator to four decimal places and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a)
(b)
(c) R37 815
(d) R 3 921FAKE-TURF Company will be renting out their office space in Cape Town for a period of three (3) years. They will receive R450 000 per year. The first payment will be due now, and the remainder of the payments at the beginning of each of the following two years. Calculate the present value of the annuity received in advance? The compound interest rate is 9%. Set your calculator to four decimal places for calculations and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R 791 505
(b) R1 241 500
(c) R1 683 000
(d) R1 233 000
An annuity pays R15 000 per year at the end of every year for 15 years. Interest is compounded at 8% per annum. Set your calculator to four decimal places and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a)
(b)
(c) R225 000
(d)
You always had this dream to one day experience a white Christmas. You decided to save to go on this overseas holiday six years from now. You estimated that you would have to pay R60 000 for this overseas holiday. Calculate the amount that you will need to invest every year at a compound interest rate of 7% per annum to have the amount of R60 000 after six years? Set your calculator to four decimal places for calculations and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R8 388
(b) R2 799
(c) R9 826
(d) R7 148
A loan has a nominal interest rate of 14% per annum. Interest is compounded every three months. Which one of the following options reflects the effective annual interest rate on the loan? Set your calculator to four decimal places. Round the final interest rate to two decimal places. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) 14,75%
(b) 14,67%
(c) 13,80%
(d) 13,32%
AFRI- BANK wants to advertise an investment opportunity to its current and potential clients. The particulars of this investment will be that the client must invest at least R10 000. The effective interest rate will be 9,20% per annum and interest will be earned on a six-monthly basis. They want to know what the nominal interest rate of this investment opportunity will be. Set your calculator to four decimal places for calculations and round the final answer to two decimal places. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) 38,49%
(b) 18,40%
(c)
(d) 9,00%
Deborah is saving to enroll for her post–grad diploma in 3 years’ time. She is using her annual bonus for this purpose. She will make a payment of R7 000 at the beginning of each year for the next 3 years and will earn compound interest of 8,5% per year. Calculate the amount that she will have saved after 3 years? Set your calculator to four decimal places for calculations and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R15 836
(b) R22 836
(c) R24 777
(d) R31 776
The owner of Fresh Veggies invested R200 000 for a period of five years at 5% per annum. The interest will be calculated semi-annually. Determine the total interest for the period if simple interest is added? Set your calculator to four decimal places and round your final answer to the nearest rand. If s light rounding differences occur - choose the alternative that is closest to your answer.
(a) R256 017
(b) R 56 017
(c) R100 000
(d) R330 660
Andile already of a future amount at a discount rate of 9% to be R215,80. The present value of the same amount at a discount rate of 11% was R196,40. Set your calculator to four decimal places and round your final answer to two decimal places. If s light rounding differences occur - choose the alternative that is closest to your answer.
(a) 11,58%
(b) 7,42%
(c) 10,58%
(d) 11,53%