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MAC2602-25-S2
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A finance company provides a loan at a nominal rate of 10% per annum. Interest is payable monthly on this loan. 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) 0,08%
(b) 0,83%
(c) 10,00%
(d) 0,10%
A company takes out a bank loan of R110 000 at 8% per annum on the 1 of January. The loan agreement states that the company will pay back the loan (capital and interest) over 3 years in equal quarterly payments. What will the payment for each quarter be if you apply either the correct equation, mathematical formula, or financial calculator. Set your calculator at four decimals 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 42 685
(b) R 33 884
(c)
(d) R139 594
During COVID-19 the employees of BOX-X Ltd all started working from home. This trend continued even after all COVID-19 restrictions were lifted. BOX-X Ltd procured a remote working agreement with their employees and decided to rent out their three-story building for the next 5 years. The tenants will immediately pay R150 000 at the beginning of the first year and then also R150 0000 at the beginning of each of the next four years. The discount rate is 10%. Calculate the present value of the annuity due? 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) R568 618
(b) R803 250
(c) R375 000
(d) R625 480
Maurice received a cash amount of R1 000 for a casual job that he did for a friend. Should he invest this R1 000 in an account at Coptic Bank that has indicated that an annually compounded interest rate of 7,9% per annum would be earned, what will the value of his investment be after five years? 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) R18 377
(b) R 1 463
(c) R 684
(d) R 1 578
Kaashifa invested R18 000 in an account that pays 6% simple interest per year. What is the total amount that Kaashifa will receive at the end of four years? Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R43 200
(b) R 1 080
(c) R22 320
(d) R 4 320
Tshepo needs R100 000 to cover his child’s college expenses in eight years’ time when his son finishes school. If the account pays 12% compound interest per annum, what is the amount that Tshepo needs to invest now? Set your calculator to four decimal places and round your final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R56 092
(b) R40 388
(c) R86 956
(d) R37 594
Precious, a trainee accountant, invested an amount of money at 8% compounded interest. She will indefinitely receive an amount of R3 000 annually. Calculate the present value of the amount that Precious invested? 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) R36 700
(b) R37 500
(c) R33 773
(d) R29 454
You decided to save your spare cash that you estimated that you will have available at the end of each year for the next four years. You estimated that you will have R5 000 available in Year 1; R6 000 in Year 2; R4 000 in Year 3 and R5 000 in Year 4. You will invest these estimated amounts at a bank that allows 10% compound interest to be earned. Calculate the Present value of your future income from this investment? Set your calculator on 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) R15 924
(b) R17 517
(c) R17 434
(d) R22 000
Your mother wants to save money to build up a nest egg for unforeseen expenses. She will invest her Christmas bonus of R6 000, that she receives from her employer, at the beginning of each year. Her investment will earn interest at a rate of 6% compounded annually. 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) R33 823
(b) R41 800
(c) R35 852
Lance receives an income every year from an institution for being a tutor. He wants to invest R2 000 of this income at a compound interest rate of 5,5% per annum for the next three years at the end of each year. Calculate the value of his investment after three years by using an appropriate mathematical formula or a financial calculator. 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) R9 905
(b) R6 367
(c) R6 336