,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
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 4 Not yet answered Marked
out of 1.00 QUIZ Peo needs R30 835,42 to buy a second hand
trailer. Approximately how long will it take him to save towards
this amount if he deposits R25 000now into a savings account
earning 10,5% interest per year compounded weekly? a. 24
weeks b. 52 weeks c. 104 weeks d. 2 weeks Clear my choice
DSC1630-24-S2 Welcome Message Assessment 1 Question
5 Not yet answered Marked out of 1.00 QUIZ Enele invests an
amount of money in an account earning 13,88% interest per
year, compounded weekly. After fi ve years, this amount
hasaccumulated to R50 000. The amount that was invested
, initially is a. R25 001,79. b. R29 515,94. c. R15 300,00. d. R34
700,00. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 6 Not yet answered Marked out of
1.00 QUIZ Pretty has an individual retirement plan. Her money
is invested in a money market fund that pays interest on a daily
basis. Over a two yearperiod in which no deposits or
withdrawals were made, the balance of her account grew from
R4 500 to R5 268,24. The effective interest rateover this period
is a. 6,1%. b. 5,8%. c. 8,2%. d. 9,0%. Clear my choice
DSC1630-24-S2 Welcome Message Assessment 1 Question
7 Not yet answered Marked out of 1.00 QUIZ Achmed won
R120 000 in a competition and immediately deposited the
money into a savings account earning 8,5% interest per
annumcompounded monthly. Five months after winning, he
withdrew a certain amount for his son’s education. The balance
in his account one yearafter winning the money was R99 087,42.
The amount he withdrew for his son’s education was a. R25
223,22. b. R30 000,00. c. R33 000,00. d. R20 912,58. Clear my
choice DSC1630-24-S2 Welcome Message Assessment 1
Question 8 Not yet answered Marked out of 1.00 QUIZ On 16
April Bheka deposited an amount of money in a savings account
that earns 8,5% simple interest. He intends to withdraw the
balance ofR2 599 on 8 December of the same year to buy his
little sister a DVD player for Christmas. The amount of money
that Bheka deposited is a. R2 460,03. b. R2 461,82. c. R2
465,46. d. R2 463,60. Clear my choice DSC1630-24-S2
Welcome Message Assessment 1 Question 9 Not yet
answered Marked out of 1.00 QUIZ If a simple interest rate of
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