Summary
Summary DSC1630 SEMESTER 2 2024 ASSESSMENT 3
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Summary of 9 pages for the course Introductory Financial Mathematics at Unisa
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DSC1630 ASSESSMENT 3&42024 SEMESTER 2
Question 1
Quarterly payments of R7 000 are made into an account earning 6,57% per year, compounded
monthly. The accumulated amount after 12 years is
a.
R506 569,30.
b.
R122 095,12.
c.
R231 205,73.
d.
R336 000,00.
Question 2
Cyril buys a house and makes a down payment of 35% of the price of the house. He manages to
secure a loan at an interest rate of 13,25% per year, compounded monthly, for a period of 20
years. His monthly payment is R10 437,26.
The size of the down payment (to the nearest rand) is
a.
R527 959.
b.
R876 730.
c.
R307 125.
d.
R472 500.
Cyril buys a house and makes a down payment of 35% of the price of the house. He manages to
secure a loan at an interest rate of 13,25% per year, compounded monthly, for a period of 20
years. His monthly payment is R10 437,26.
If an average yearly inflation rate of 5,57% is expected, then the real cost (to the nearest rand) of
the loan (the difference between the total value of the loan and the actual principal borrowed) is
, Question 3
a.
R631 108.
b.
R877 500.
c.
R1 350 000.
d.
R1 508 608.
QUESTION 4
QUESTION 5
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