DSC1630-24-S1 Welcome Message Assessment 2
QUIZ
Assessment 2
OSCAR THE TUTOR
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Started
DSCon Monday, 25 March 2024, 3:23 PM
State Finished
Completed on Monday, 25 March 2024, 3:28 PM
Time taken 4 mins 37 secs
OSCAR THE TUTOR
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Marks 11.00/15.00
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Grade 73.33 out of 100.00
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Question 1 An interest rate of 17,5% per year compounded quarterly is equivalent to a
Complete
continuous compounding rate of
M ark 1.00 out of
1.00 a. 17,128%.
Flag question b. 17,185%.
c. 17,500%.
d. 17,888%.
Question 2 An amount borrowed at 29% interest per year compounded continuously has
Complete
accumulated to R38 279,20 after four years. The initial amount borrowed was
M ark 1.00 out of
1.00 a. R7 160,73.
Flag question b. R12 000,00.
c. R12 005,53.
d. R13 823,05.
Question 3 The effective rate for a continuous compounding rate of 17,5% is
Complete
M ark 1.00 out of a. 16,13%.
1.00
b. 17,50%.
Flag question
c. 19,12%.
d. 21,08%.
,Question 4 An amount of R10 000 was invested in a special savings account on 15 May at an
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interest rate of 15% per annum compounded quarterly for seven months. Interest
is calculated on 1 January, 1 April, 1 July and 1 October of every year.
M ark 0.00 out of
If simple interest is used for the odd periods and compound interest for the rest of
1.00
the term, the amount of interest received after seven months is
Flag question
a. R665,54.
b. R896,95.
c. R901,35.
d. R1 644,57.
Question 5 An amount of R10 000 was invested in a special savings account on 15 May at an
interest rate of 15% per annum compounded quarterly for seven months. Interest
Complete
is calculated on 1 January, 1 April, 1 July and 1 October of every year.
M ark 0.00 out of
If fractional compounding is used for the full term of seven months, the total
1.00
amount of interest received is
Flag question
a. R892,79. OSCAR THE TUTOR
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b. R894,04.
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c. R898,43. +27844708483 for
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d. R901,73. MNG DSC
Question 6 Three years ago Jake borrowed R7 500 from Martha. The condition was that he
Complete
would pay her back in seven years’ time at an interest rate of 11,21% per year,
compounded semi-annually. Six months ago he also borrowed R25 000 from
M ark 1.00 out of Martha at 9,45% per year, compounded monthly. Jake would like to pay off his
1.00 debt four years from now.
Flag question The amount of money that Jake will have to pay Martha four years from now is
a. R36 607,98.
b. R45 181,81.
c. R48 032,20.
d. R54 278,92.
Three years ago Jake borrowed R7 500 from Martha. The condition was that he
would pay her back in seven years’ time at an interest rate of 11,21% per year,
compounded semi-annually. Six months ago he also borrowed R25 000 from
Martha at 9,45% per year, compounded monthly. Jake would like to pay off his
debt four years from now.
, After seeing what he must pay Martha, Jake decides to reschedule his debt as two
Question 7
equal payments: one payment now and one three years from now. Martha agrees
Complete 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
M ark 0.00 out of years from now is
1.00
Flag question
a. R21 171,35.
b. R22 286,88.
c. R25 103,93.
d. R32 500,00.
Question 8 If R35 000 accumulates to R48 320 at a continuous compounded rate of 8,6%, then
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the term under consideration is
M ark 1.00 out of
1.00 a. 2,77 years.
Flag question b. 3,75 years.
c. 3,91 years.
d. 4,43 years.
Question 9 Nomsa wants to buy a new state of the art computer for R35 000. She decides to
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save by depositing an amount of R500 once a month into an account earning
11,32% interest per year, compounded monthly. The approximate time it will take
M ark 1.00 out of Nomsa to have R35 000 available is
1.00
Flag question a. 40 months.
b. 54 months.
c. 70 months.
d. 115 months.
Question 10 If money is worth 12% per annum compounded monthly, how long will it take the
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principal P to double?
M ark 1.00 out of
1.00 a. 6,12 years
Flag question b. 7,27 years
c. 8,33 years
d. 5,81 years
