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DSC1630 EXAM PACK 2023
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3DSC1630 EXAM PACK 2023
UNIVERSITY EXAMINATIONS
MAY/JUNE 2020
DSC1630
INTRODUCTORY FINANCIAL MATHEMATICS
100 Marks
Duration: 2 Hours 30 Minutes
EXAMINERS:
First: Second:
This paper consists of 13 pages, including a list of formulas and a date table.
Programmable calculator permissible.
Instructions:
Answer all the questions.
The paper comprises of 30 questions that count a total of 100 marks.
Only ONE option, indicated as [1] [2] [3] [4] [5] per question is correct.
Marks will not be deducted for incorrect answers.
The answers to the examination MCQ may only be submitted online.
Please contact mynorcharles@gmail.com if you do experience any myUnisa problems during the examination.
Disclaimer:
We would like to remind you that Unisa has a zero tolerance for any form of plagiarism or examination
dishonesty.
, 4
Question 1
The amount of money you have to invest at a simple interest rate of 15% pertoan
eanrunmR,5 250 interest
after three years, is
[1] R3 620,69.
[2] R10 000,00.
[3] R5 249,48.
[4] R122 500,00.
[5] R11 666,67.
Question 2
A bank’s simple discount rate is 12% per anYn
ou n.eed to pay the bank R5 000 in six months’ time.
The amount of money that you will receive from the bank now is
[1] R4 700,00.
[2] R4 716,98.
[3] R4 724,56.
[4] R5 300,00.
[5] R5 319,15.
Question 3
Jacob invests R8 350 in an account that pays simple interAefstte.r six years,the amount that he
receives (accumulated sum) is R12 8T5h9e. simple interest rate on the investme ronut,nded to two
decimal places, is
[1] 0,75% per year.
[2] 45,09% per year.
[3] 1,08% per year.
[4] 9,00% per year.
[5] none of the above.
Question 4
The accumulated amount that Mabe will receive after 38 months if she deposits R13 300 into an acc
where money is worth 11,35% per year compounded every two months is
[1] R14 117,08.
[2] R15 690,19.
[3] R18 080,24.
[4] R18 865,83.
[5] R18 988,31.
CONFIDENTIAL Page 3 of 13
, 5
DSC1630 May/June 2020
Question 5
Sakkie borrowed an amount of money from TLh uelul.oan willbe paid back by means of payments of R25
000 every second month for six y Aenairnst.erest rate of 7,75% per year compounded every second
month will be applicablTeh.e present value of the loan is
[1] R238 067,35.
[2] R400 738,72.
[3] R716 113,21.
[4] R900 000,00.
[5] R1 136 672,90.
Question 6
On 16 April, Nkosi deposited an amount mofoney in a savings account that earns 8,5% per annum,
simple interesH
t.e intends to withdraw the balance of R2 599 on 8 December of the same year (not le
year) to buy himself a new bicyTch
le. amount of money that Nkosi deposited is
[1] R2 460,03.
[2] R2 461,82.
[3] R2 463,60.
[4] R2 465,46.
[5] R2 458,18.
Question 7
Bi Cycle agreed to establish the Spike Fund from which the pyaywHillandle R2 500 per month indef-
initely as compensation for injuries he sustained while working on the Riley M pronjeyt.is worth
12,5% per year, compounded monTthe ly.opening balance of this fund is
[1] R170 792,83.
[2] R200 000,00.
[3] R240 000,00.
[4] R281 869,63.
[5] R492 680,86.
Question 8
A furniture company charges a finance fee of 0,13% per week on outstanding b
Tahlean
ecffeesc.tive
rate per annum is
[1] 6,76%.
[2] 6,99%.
[3] 13,01%.
[4] 13,86%.
[5] 25%.
, 6
CONFIDENTIAL DSC1630
Page 4 of 13 May/June 2020
Question 9
An amount borrowed at 29% interest per year, compounded continuously, has accumulated to R38 2
after four yearsT.he initial amount borrowed was
[1] R7 160,73.
[2] R12 000,00.
[3] R12 005,53.
[4] R13 823,05.
[5] R17 721,85.
Question 10
Jack will need R20 000 to buy his brother’s old car in two yearH
s’etiw
maen.ts to start saving part of
his weekly salary in an account that returns 9,3% interest per year, compound Thed
emweineikmlyu.m
weekly payment that he needs to make into this investment account to have enough in two years’ ti
is
[1] R175,15.
[2] R767,45.
[3] R210,92.
[4] R909,11.
[5] none of the above.
Question 11
Poppy dreams of becoming a ch Sehfe. has a fund of R40 000 available to cover her expenses at a chef
schoolover the next four yearSsh
. e withdraws the same amount from the fund at the beginning of
each month to pay for the chef couIrfsteh.e interest rate is 7,4% per year, compounded monthly, then
the value of each monthly withdra iswal
[1] R718,62.
[2] R714,22.
[3] R959,37.
[4] R965,29.
[5] none of the above.
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