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DSC1630 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (234683) - DUE 5 September 2024
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DSC1630 Assignment 3(COMPLETE ANSWERS)
Semester 2 2024 (234683) - DUE
5 September 2024
100% GUARANTEED
, DSC1630 Assignment 3 (COMPLETE ANSWERS)
Semester 2 2024 (234683) - DUE 5 September 2024
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)
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