DSC1630 Assignment
3 (COMPLETE
ANSWERS) Semester 2
2024 (234683) - DUE 5
September 2024 ;
100% TRUSTED
Complete, trusted
solutions and
explanations.
ADMIN
[COMPANY NAME]
,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
,8 316,61 179 B 143,19 8 530,49 H 180 8 458,59 E 8 530,49 I
The applicable interest rate per year (compounded monthly) is a.
8,50%. b. 4,95%. c. 5,20%. d. 10,20%. Question 5 Complete
Mark 1.00 out of 1.00 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 8 316,61 179 B
143,19 8 530,49 H 180 8 458,59 E 8 530,49 I The value of A is
a. R41 586,01. b. R42 652,45. c. R40 540,45. d. R40 810,13.
Question 6 Complete Mark 1.00 out of 1.00 Question 7
Complete Mark 1.00 out of 1.00 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 8 316,61 179 B
143,19 8 530,49 H 180 8 458,59 E 8 530,49 I The accumulated
amount after eight years of monthly payments of R1 900 each
into an account earning 9,7% interest per year,
compoundedmonthly, is a. R274 069,25. b. R126 532,64. c.
R182 400,00. d. R395 077,74. a. b. c. d. Question 8 Complete
Mark 1.00 out of 1.00 Question 9 Complete Mark 1.00 out of
1.00 Question 10 Complete Mark 1.00 out of 1.00 Ntombi wants
to open a Paint-and-Decor Shop and borrows R450 000 from
Uncle Sakhile. She realises that she will only be able to start
payinghim back fi ve years from now. Money is worth 9,8% per
year, compounded every three months. The amount of money
, that Ntombi will owe Uncle Sakhile fi ve years from now is a.
R662 832,69. b. R670 500,00. c. R730 216,71. d. R718 164,96.
Ntombi wants to open a Paint-and-Decor Shop and borrows
R450 000 from Uncle Sakhile. She realises that she will only be
able to start payinghim back fi ve years from now. Money is
worth 9,8% per year, compounded every three months. The
amount of money that Ntombi will then (after fi ve years) have
to pay Uncle Sakhile every three months for four years to pay
off her debt is a. R55 716,45. b. R54 796,89. c. R51 159,99. d.
R50 574,97. Moshe took out an endowment policy for an annual
payment of R1 500 that will increase annually with R150. The
policy matures in 20 yearswith an expected annual interest rate
of 15%. The amount that Moshe can expect to receive after 20
years is a. R256 108,96. b. R236 108,96. c. R166 897,15. d.
R169 031,91. Question 11 Complete Mark 1.00 out of 1.00
Question 12 Complete Mark 1.00 out of 1.00 Question 13
Complete Mark 1.00 out of 1.00 On her 40th birthday Itumleng
decides that she will go for a facelift when she turns 50. She
estimates that it will cost her R48 000 when sheturns 50. She
starts saving immediately by paying an amount each month into
an account earning 8,58% interest per year,
compoundedmonthly. The monthly payment is a. R255,80. b.
R252,18. c. R597,19. d. R592,95. The Gliding Fund must pay
Sanele R18 000 every three months indefi nitely as
compensation. Money is worth 11,4% per year,
compoundedquarterly. The opening balance of this fund is
approximately a. R474 536. b. R631 579. c. R1 105 351. d.
R157 895. The Gliding Fund must pay Sanele R18 000 every
three months indefi nitely as compensation. Money is worth
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 Jennifer2024. 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.
