DSC1630 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024
(234521)- DUE 8 August 2024
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
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 4 Not yet answered
Marked out of 1.00 QUIZ Peo needs R30 835,42 to buy a second hand trailer.
Approximately how long will it take him to save towards this amount if he
deposits R25 000now into a savings account earning 10,5% interest per year
compounded weekly? a. 24 weeks b. 52 weeks c. 104 weeks d. 2 weeks
Clear my choice DSC1630-24-S2 Welcome Message Assessment 1
Question 5 Not yet answered Marked out of 1.00 QUIZ Enele invests an
amount of money in an account earning 13,88% interest per year,
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,compounded weekly. After fi ve years, this amount hasaccumulated to R50
000. The amount that was invested initially is a. R25 001,79. b. R29 515,94. c.
R15 300,00. d. R34 700,00. Clear my choice DSC1630-24-S2 Welcome
Message Assessment 1 Question 6 Not yet answered Marked out of 1.00
QUIZ Pretty has an individual retirement plan. Her money is invested in a
money market fund that pays interest on a daily basis. Over a two yearperiod
in which no deposits or withdrawals were made, the balance of her account
grew from R4 500 to R5 268,24. The effective interest rateover this period is
a. 6,1%. b. 5,8%. c. 8,2%. d. 9,0%. Clear my choice DSC1630-24-S2
Welcome Message Assessment 1 Question 7 Not yet answered Marked out
of 1.00 QUIZ Achmed won R120 000 in a competition and immediately
deposited the money into a savings account earning 8,5% interest per
annumcompounded monthly. Five months after winning, he withdrew a certain
amount for his son’s education. The balance in his account one yearafter
winning the money was R99 087,42. The amount he withdrew for his son’s
education was a. R25 223,22. b. R30 000,00. c. R33 000,00. d. R20 912,58.
Clear my choice DSC1630-24-S2 Welcome Message Assessment 1
Question 8 Not yet answered Marked out of 1.00 QUIZ On 16 April Bheka
deposited an amount of money in a savings account that earns 8,5% simple
interest. He intends to withdraw the balance ofR2 599 on 8 December of the
same year to buy his little sister a DVD player for Christmas. The amount of
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, money that Bheka deposited is a. R2 460,03. b. R2 461,82. c. R2 465,46. d.
R2 463,60. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 9 Not yet answered Marked out of 1.00 QUIZ If a
simple interest rate of 21% is equivalent to a discount rate of 19%, then the
length of time under consideration is a. 0,501 years. b. 0,904 years. c. 1,105
years. d. 0,453 years. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 10 Not yet answered Marked out of 1.00 QUIZ
Dembe received an amount of R2 340 from the bank at a discount rate of 12%
per annum at the beginning of September. The future value of theloan at the
beginning of July the following year is a. R2 574,00. b. R2 127,27. c. R2
106,00. d. R2 600,00. Clear my choice DSC1630-24-S2 Welcome Message
Assessment 1 Question 11 Not yet answered Marked out of 1.00 QUIZ
Thendo has to pay Rendi R27 000 twenty-fi ve months from now. He decides
to pay her back earlier. If a simple interest rate of 9,4% per year isapplicable,
then the amount that Rendi will receive from Thendo 12 months from now is a.
R22 578,40. b. R24 504,61. c. R24 700,77. d. R24 877,68. Clear my choice
DSC1630-24-S2 Welcome Message Assessment 1 Question 12 Not yet
answered Marked out of 1.00 QUIZ If Mulalo earns a nominal interest rate of
16,5% per annum, compounded at the end of every second month, on a
savings account, then theeffective interest rate is a. 16,18%. b. 18,00%. c.
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