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Every year after Prudence has paid all her credit card debt, she still has R4 200 from her annual She decided to save this amount, on an annual basis, for the next 3 years. The special savings account she decided on earns interest at 12%, compounded annually. You are required to calculate the total value of Prudence’s special savings account at the end of year three by using a financial calculator or the mathematical formula. Set your calculator to four decimal places for calculations and round the final answer to the nearest rand. Slight rounding differences may occur depending on which method was used, choose the option closest to your answer.
(a) R10 088
(b) R14 172
(c) R14 112
(d) R13 104
What are the quarterly payments for a loan of R1 540 000 bearing interest at 16% per annum, repayable in equal bi-annual payments over the next 10 years? You can apply either the correct equation, mathematical formula, or financial calculator. 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) R318 628
(b) R156 852
(c) R259 747
(d) R229 508
Mxolisi has deposited an amount of R1 500 in a stokvel. He will earn simple interest of 8% per annum. Calculate the amount of interest that he will have earned after 2 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) R1 740
(b) R 240
(c) R 360
(d) R1 750
Gladys received a total of R2 000 cash as presents from her friends and family on her birthday. She wants to invest this money and decided on a fixed term bank deposit for six years at an annual compounded interest rate of 16%. Calculate the value of her investment at the end of year six by using a mathematical formula or financial calculator. Set your calculator to four decimal places and round your final answer to the nearest rand. light rounding differences occur - choose the alternative that is closest to your answer.
(a) R 4 873
(b) R 2 342
(c) R13 920
(d) R33 915
Geraldine receives R4 000 annually indefinitely after investing money, at 7% compound interest. What is the present value (PV) of the amount that she invested rounded to the nearest rand? 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) R 5 714
(b) R 5 142
(c) R 57 143
(d) R571 429
What is the present value of a zero-coupon bond with a par value of R1 000 000, which is due to be redeemed in 10 years’ time, when the market interest rate for such a bond is 6%, interest compounded semi-annually? Set your calculator to four decimal places and round the final answer to the nearest rand. Slight rounding differences may occur depending on whether you use the mathematical formula or a financial calculator. Choose the alternative that is closest to your answer.
(a) R553 676
(b) R744 094
(c) R742 470
(d) R861 667
Wooden Homes (Pty) Ltd obtained a loan of R100 000 to finance future expansion of their business. The loan needs to be repaid in equal instalments over 15 years, including capital and interest. The finance company from which the loan was obtained, wants to earn interest at 18% per annum on this finance agreement. Calculate the annual instalment requirement? 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) R 1 640
(b) R19 640
(c) R16 319
(d) R19 460
Which Table and interest rate factor should Litha use to determine the value at the end of three years of her investment of R25 000 that she invested today at 8% (compounded interest)?
(a) Table D – 3,2464
(b) Table C – 1,2597
(c) Table A – 0,794
(d) Table B – 2,577
Sonny received a cash amount of R10 000 from the Stokvel that he belonged to. Should he invest this R10 000 what will the value of this investment be after three 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) R 17 490
(b) R 10 457
(c) R106 600
(d) R 15 209
Motseko would like to invest R80 000 at the end of each year at an annual compound interest rate of 15%. Determine the value of the investment after five years by using the mathematical formula. 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) R367 445
(b) R539 416
(c) R 53 942
(d) R 80
912