Country : South Africa
Assignment Task

Question 1. If an amount of money Rx accumulated to R166 after two years and five months at 13% pa simple interest, then Rx (rounded to the nearest cent) is equal to: 
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Question 2. If the nominal interest rate is 15% pa compounded quarterly, then the equivalent effective annual interest rate (rounded to two decimal places) is equal to:

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Question 7 
Ten consecutive equal quarterly deposits of R10 000 were made into savings account that 
earns interest at a rate of 14 pq starting three months from now. 
Starting seven months after the last deposit of R10 000 was made, fourteen consecutive monthly deposits were also made into the savings account. The first and second payments of the fourteen payments are equal to R7 000, from the third payment onwards the payments of R7 000 will increase at the rate of r 12 pm. The present value of all the twenty-four payments combined is given

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Question 9. A man buys a car now, the cost to buy a car now is R70 000. Then man want to replase the in five years time from now. The cost to buy the car will increase at i pa whereas the value of the car bought now will depreciate at 17% pa on a reducing balance. A sinking fund is established to replace the car bought now five years from now. In order to fund the purchase of a new machine fours years from now, consecutive equal monthly deposits R2 000 are made into a sinking fund for the entire five year period starting one month from now. Money in the sinking fund earns interest at 8% pa compounded monthly. If the car bought now will be sold in part payment for a new car five years from now, then the rate i (rounded to the three decimals) must be equal to: 

 

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  • Posted on : October 03rd, 2018
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