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  3. University Of South Africa (Unisa)
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  5. Introductory Financial Mathematics

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DSC1630 ASSIGNMENT 3 SEMESTER 2 2024
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This document contains DSC1630 Assignment 3 semester 2 Questions and trusted answers. By utilizing this document you will obtain distinction

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  • July 31, 2024
  • 7
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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DSC1630-24-S2  Welcome Message  Assessment 3

QUIZ




Started on Tuesday, 30 July 2024, 6:40 PM
State Finished
Completed on Tuesday, 30 July 2024, 6:44 PM
Time taken 3 mins 59 secs
Marks 15.00/15.00
Grade 100.00 out of 100.00


Question 1

Complete

Mark 1.00 out of 1.00




Quarterly payments of R7 000 are made into an account earning 6,57% per year, compounded monthly. The accumulated amount after 12 years
is


a. R122 095,12.

b. R231 205,73.

c. R506 569,30.

d. R336 000,00.




Question 2

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% per
year, 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




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% per
year, compounded monthly, for a period of 20 years. His monthly payment is R10 437,26.

If an average yearly inflation rate of 5,57% is expected, then the real cost (to the nearest rand) of the loan (the difference between the total value
of the loan and the actual principal borrowed) is


a. R877 500.

b. R631 108.

c. R1 350 000.

d. R1 508 608.




Question 4

Complete

Mark 1.00 out of 1.00




The last six payments of a loan are reflected in the following amortisation schedule.

Outstanding principal at
Interest due at the end
Month the beginning of the Payment Principal repaid
of the month
month

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) is


a. 5,20%.

b. 10,20%.

c. 8,50%.

d. 4,95%.

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