Exam (elaborations)
DSC1630 Assessment 5 semester 1 of 2024
- Institution
- University Of South Africa (Unisa)
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QUIZ
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Question 1 Three years ago Jake borrowed R7 500 from Martha. The condition was that he would pay her back in seven years’ time at
Not yet an interest rate of 11,21% per year, compounded semi-annually. Six months ago he also borrowed R25 000 from Martha at
answered
9,45% per year, compounded monthly. Jake would like to pay off his debt four years from now.
Marked out of
After seeing what he must pay Martha, Jake decides to reschedule his debt as two equal payments: one payment now
1.00
and one three years from now. Martha agrees on condition that the new agreement, that will run from now, will be
subjected to 10,67% interest, compounded quarterly. The amount that Jake will pay Martha three years from now is
a. R21 171,35.
b. R25 103,93.
c. R32 500,00.
d. R22 286,88.
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Question 2 Aziza urgently needs R10 000. The bank agrees to give her this amount now, to be paid back seven months from now
Not yet based on a bank simple discount rate of 16,4%. The amount that she will have to pay back equals
answered
Marked out of
a. R10 996,80.
1.00
b. R11 057,87.
c. R10 956,67.
d. R9 043,33.
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