Exam (elaborations)
Fin2603 Assignment 02 Semester 01 2024[ Quality Answers] DISTINCTION GUARANTEED
- Institution
- University Of South Africa (Unisa)
This document contains Fin2603 Assignment 02 Semester 01 2024 Question and Answers
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UNISA 2024 FIN2603-24-S1 Welcome Message Assessment 2QUIZ
Started on Friday, 12 April 2024, 5:28 PM
State Finished
Completed on Friday, 12 April 2024, 6:34 PM
Time taken 1 hour 5 mins
Question 1
Complete
Marked out of 1.00
... is the interest earned on a given deposit that has become part of the sum at the end of a specified period.
a. Simple interest
b. Compound interest
c. The interest rate
d. The internal rate of return
Question 2
Complete
Marked out of 1.00
At what annual interest rate must a single amount of R5 000 be invested for 5 years to yield approximately R7 500?
a. 7.20%
b. 10.76%
c. 8.45%
d. 9.86%
, Question 3
Complete
Marked out of 1.00
Ben Johnson has arranged for a 60-day loan at an annual interest rate of 7.5% per annum. If the loan amount is R1 000 000,
how much interest will Mr Johnson pay in rand terms? (Assume a 360-day year.)
a. R25 000
b. R75 000
c. R0
d. R12 500
Question 4
Complete
Marked out of 1.00
Calculate the difference between the following two investment proposals.
(a) R1 401.82 invested annually for five successive years at 9% per annum.
(b) R5 209.22 invested for five years at 10% per annum compound interest.
a. R0
b. R 80.25
c. R100.35
d. R 36.10
Question 5
Complete
Marked out of 1.00
Calculate the future value (FV) of R15 000 invested for six years at an interest rate of 8%, compounded monthly.
a. R26 734
b. R14 026
c. R23 803
d. R24 260
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