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DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234521)- DUE 8 August 2024
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,DSC1630 Assignment 1 (COMPLETE ANSWERS)Semester 2 2024 (234521)- DUE 8 August
2024 ; 100% TRUSTED Complete, trusted
solutions and explanations.
Question 1 Not yet answered Marked out of 1.00 QUIZ You have
invested R1 500 in an account earning 6,57% simple interest.
The balance in the account 16 months later is a. R1 636,94. b.
R2 814,00. c. R1 631,40. d. R1 644,02. Clear my choice
DSC1630-24-S2 Welcome Message Assessment 1
To determine the balance in the account, we need to calculate
the interest earned using the simple interest formula:
Simple Interest=P×r×t\text{Simple Interest} = P \times r \times
tSimple Interest=P×r×t
where:
PPP is the principal amount (R1,500)
rrr is the annual interest rate (6.57% or 0.0657)
ttt is the time in years (16 months or 1612\frac{16}
{12}1216 years)
First, calculate the time in years:
t=1612=1.3333 yearst = \frac{16}{12} = 1.3333 \
text{ years}t=1216=1.3333 years
Next, calculate the simple interest:
, Simple Interest=1500×0.0657×1.3333\text{Simple Interest} =
1500 \times 0.0657 \times
1.3333Simple Interest=1500×0.0657×1.3333
Simple Interest≈1500×0.0657×1.3333\text{Simple Interest} \
approx 1500 \times 0.0657 \times
1.3333Simple Interest≈1500×0.0657×1.3333
Simple Interest≈131.40\text{Simple Interest} \approx
131.40Simple Interest≈131.40
Add the interest to the principal to find the total balance:
Total Balance=1500+131.40=1631.40\text{Total Balance} = 1500
+ 131.40 = 1631.40Total Balance=1500+131.40=1631.40
So, the correct answer is:
c. R1 631,40
Question 2 Not yet answered Marked out of 1.00 QUIZ If
money is worth 12% per annum compounded monthly, how
long will it take the principal P tobecome four times the original
value? a. 11,61 years b. 7,27 years c. 69,66 years d. 139,32 years
Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 3 Not yet answered Marked out of 1.00
QUIZ An effective rate of 29,61% corresponds to a nominal rate,
compounded weekly, of a. 26,00%. b. 34,35%. c. 29,61%. d.
29,53%. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1
Question 2
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