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DSC1630 Assignment
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Introduction to Financial Mathematics
DSC1630 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (234683)
- DUE 5 September 2024 ; 100% TRUSTED Complete, trusted solutions and
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Question 1 Complete Mark 1.00 out of 1.00 Question 2 Complete Mark 1.00
out of 1.00 QUIZ Quarterly payments of R7 000 are made into an account
earning 6,57% per year, compounded monthly. The accumulated amount after
12 yearsis a. R122 095,12. b. R336 000,00. c. R231 205,73. d. R506 569,30.
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% peryear,
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 Question 4 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% peryear, compounded monthly, for
a period of 20 years. His monthly payment is R10 437,26. If an average yearly
infl ation rate of 5,57% is expected, then the real cost (to the nearest rand) of
the loan (the difference between the total valueof the loan and the actual
principal borrowed) is a. R631 108. b. R1 350 000. c. R877 500. d. R1 508
608. The last six payments of a loan are refl ected in the following
amortisation schedule. Month Outstanding principal atthe beginning of
themonth Interest due at the endof the month Payment Principal repaid 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. 8,50%. b. 4,95%. c. 5,20%. d. 10,20%. Question 5 Complete
Mark 1.00 out of 1.00 The last six payments of a loan are refl ected in the
following amortisation schedule. Month Outstanding principal atthe beginning
of themonth Interest due at the endof the month Payment Principal repaid 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 value of A is a. R41 586,01. b. R42 652,45. c.
