Exam (elaborations)
DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
- Course
- Institution
- Book
DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
-
DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
-
DSC1630 Assignment 1 (QUALITY ANSWERS) Semester 2 2024
Seller
Follow
THEBLAZE1
Reviews received
Content preview
,DSC1630 Assignment 1 (COMPLETE ANSWERS)Semester 2 2024 (234521)- DUE 8 August
2024 ; 100% TRUSTED Complete, trusted
solutions and explanations.
Question 1 Not yet answered Marked out of 1.00 QUIZ You have
invested R1 500 in an account earning 6,57% simple interest.
The balance in the account 16 months later is a. R1 636,94. b.
R2 814,00. c. R1 631,40. d. R1 644,02. Clear my choice
DSC1630-24-S2 Welcome Message Assessment 1
To determine the balance in the account, we need to calculate
the interest earned using the simple interest formula:
Simple Interest=P×r×t\text{Simple Interest} = P \times r \times
tSimple Interest=P×r×t
where:
PPP is the principal amount (R1,500)
rrr is the annual interest rate (6.57% or 0.0657)
ttt is the time in years (16 months or 1612\frac{16}
{12}1216 years)
First, calculate the time in years:
t=1612=1.3333 yearst = \frac{16}{12} = 1.3333 \
text{ years}t=1216=1.3333 years
Next, calculate the simple interest:
, Simple Interest=1500×0.0657×1.3333\text{Simple Interest} =
1500 \times 0.0657 \times
1.3333Simple Interest=1500×0.0657×1.3333
Simple Interest≈1500×0.0657×1.3333\text{Simple Interest} \
approx 1500 \times 0.0657 \times
1.3333Simple Interest≈1500×0.0657×1.3333
Simple Interest≈131.40\text{Simple Interest} \approx
131.40Simple Interest≈131.40
Add the interest to the principal to find the total balance:
Total Balance=1500+131.40=1631.40\text{Total Balance} = 1500
+ 131.40 = 1631.40Total Balance=1500+131.40=1631.40
So, the correct answer is:
c. R1 631,40
Question 2 Not yet answered Marked out of 1.00 QUIZ If
money is worth 12% per annum compounded monthly, how
long will it take the principal P tobecome four times the original
value? a. 11,61 years b. 7,27 years c. 69,66 years d. 139,32 years
Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 3 Not yet answered Marked out of 1.00
QUIZ An effective rate of 29,61% corresponds to a nominal rate,
compounded weekly, of a. 26,00%. b. 34,35%. c. 29,61%. d.
29,53%. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1
Question 2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller THEBLAZE1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.50. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75619 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now