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DSC1630 ASSIGNMENT 3 SEMESTER 2 2024
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DSC1630-24-S2 Welcome Message Assessment 3QUIZ
Started on Tuesday, 30 July 2024, 6:40 PM
State Finished
Completed on Tuesday, 30 July 2024, 6:44 PM
Time taken 3 mins 59 secs
Marks 15.00/15.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
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. R122 095,12.
b. R231 205,73.
c. R506 569,30.
d. R336 000,00.
Question 2
Complete
Mark 1.00 out of 1.00
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. R472 500.
c. R307 125.
d. R876 730.
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