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  5. Introductory Financial Mathematics

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DSC1630 ASSIGNMENT 2 SEMESTER 2 2024

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This document contains DSC1630 Assignment 2 semester 2 Questions and trusted answers. By utilizing this document you will obtain distinction.

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  • July 31, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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DSC1630-24-S2  Welcome Message  Assessment 2

QUIZ




Started on Tuesday, 30 July 2024, 5:22 PM
State Finished
Completed on Tuesday, 30 July 2024, 5:48 PM
Time taken 25 mins 39 secs
Marks 15.00/15.00
Grade 100.00 out of 100.00


Question 1

Complete

Mark 1.00 out of 1.00




Mary invested R40 000 in order to have R56 000 available in 30 months’ time. The yearly rate, compounded semi-annually, is


a. 7,21%.

b. 8,00%.

c. 13,92%.

d. 14,41%.




Question 2

Complete

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Bhongo received R32 412,87 after investing an amount of money in an account earning interest at a continuous compounding rate of 10,15%
per year. The amount of money that he invested 57 weeks earlier, is approximately


a. R29 000,00.

b. R29 153,86.

c. R32 768,16.

d. R36 227,38.

, Question 3

Complete

Mark 1.00 out of 1.00




To pay off a loan of R7 000 due now and a loan of R2 000 due in 14 months’ time, Mrs Skosana agrees to make three payments in two, five and
ten months’ time respectively. The second payment is to be double the first and the third payment is to be triple the first. What is the
approximated size of the payment at month five if interest is calculated at 16% per year, compounded monthly?


a. R1 582,43

b. R3 000,00

c. R3 164,86

d. R4 500,00




Question 4

Complete

Mark 1.00 out of 1.00




Spiderman decides that he would like to buy his lovely wife, Spiderwoman, a new car when she turns 30 in six years’ time. He deposits R6 000 at
the beginning of each month into an account earning 8,94% interest per year, compounded monthly. The amount that Spiderman (rounded to
the nearest rand) will have available six years from now is


a. R333 412.

b. R432 000.

c. R568 948.

d. R573 187.




Question 5

Complete

Mark 1.00 out of 1.00




Thulani borrowed an amount of money from his father to open the Generous Grain Shop. The loan will be paid back by means of payments of
R25 000 each every second month for six years. An interest rate of 7,5% per year compounded every two months will be applicable. The present
value of the loan is


a. R238 067,35.

b. R400 738,72.

c. R721 181,68.

d. R900 000,00.

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