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FOR QUESTIONS 7, REFER TO THE FOLLOWING INFORMATION: You have been presente...
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FOR QUESTIONS 7, REFER TO THE FOLLOWING INFORMATION:
You have been presented with the following information about Reserve Bank Debenture (RBD) that has been issued by the South African Reserve Bank (SARB) to ABSA Bank:
Amount invested/nominal value = R10 million
Issue date = 23 October 2024
Maturity date = 21 November 2024
Days = 30 days
Interest = 8.6 p.a.
(Note: Use 365 days.)
QUESTION 7
The South African Reserve Bank must therefore pay ABSA Bank at the end of the period an amount of … plus interest of … .
- R10 million: R70 680
- R10 million: R78. 897
- R10 million: R81 876
- R10 million:R85 785