, DSC1630 Assignment 3 (COMPLETE ANSWERS) Semester 2
2024 (234683) - DUE 5 September 2024 ; 100% TRUSTED
Complete, trusted solutions and explanations.
Question 1 Complete Mark 1.00 out of 1.00 Question 2
Complete Mark 1.00 out of 1.00 QUIZ Quarterly payments of
R7 000 are made into an account earning 6,57% per year,
compounded monthly. The accumulated amount after 12 yearsis
a. R122 095,12. b. R336 000,00. c. R231 205,73. d. R506
569,30. 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% peryear, 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. Question 3 Complete
Mark 1.00 out of 1.00 Question 4 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% peryear, compounded monthly, for a period of 20
years. His monthly payment is R10 437,26. If an average yearly
infl ation rate of 5,57% is expected, then the real cost (to the
nearest rand) of the loan (the difference between the total
valueof the loan and the actual principal borrowed) is a. R631
108. b. R1 350 000. c. R877 500. d. R1 508 608. The last six
payments of a loan are refl ected in the following amortisation
schedule. Month Outstanding principal atthe beginning of
themonth Interest due at the endof the month Payment Principal
repaid 175 49 694,10 422,40 8 530,49 8 108,09 176 A 353,48 8
530,49 F 177 33 409,01 C 8 530,49 G 178 25 162,50 D 8 530,49
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