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Exam Papers Bundle
2012-2020
Past Exam Papers
Contains Questions ONLY
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UNIVERSITY EXAMINATIONS
mm
mm
MAY/JUNE 2020
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INTRODUCTORY FINANCIAL MATHEMATICS
100 Marks
Duration: 2 Hours 30 Minutes
EXAMINERS:
First: Mrs MF Immelman Second: Mrs WA Van Hoepen
This paper consists of 13 pages, including a list of formulas and a date table.
Programmable calculator permissible.
Instructions:
Answer all the questions.
The paper comprises of 30 questions that count a total of 100 marks.
Only ONE option, indicated as [1] [2] [3] [4] [5] per question is correct.
Marks will not be deducted for incorrect answers.
The answers to the examination MCQ may only be submitted online.
Please contact bugmaster@unisa.ac.za if you do experience any myUnisa problems during the examination.
Disclaimer:
We would like to remind you that Unisa has a zero tolerance for any form of plagiarism or examination
dishonesty.
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Question 1
The amount of money you have to invest at a simple interest rate of 15% pertoannum,
earn R5 250
interest after three years, is
[1] R3 620,69.
[2] R10 000,00.
[3] R5 249,48.
[4] R122 500,00.
[5] R11 666,67.
Question 2
A bank’s simple discount rate is 12% per annum.
You need to pay the bank R5 000 in six months’ time.
The amount of money that you will receive from the bank now is
[1] R4 700,00.
[2] R4 716,98.
[3] R4 724,56.
[4] R5 300,00.
[5] R5 319,15.
Question 3
Jacob invests R8 350 in an account that pays simple interest.
After six years,the amount that he
receives (accumulated sum) is R12 859.
The simple interest rate on the investment,
rounded to two
decimal places, is
[1] 0,75% per year.
[2] 45,09% per year.
[3] 1,08% per year.
[4] 9,00% per year.
[5] none of the above.
Question 4
The accumulated amount that Mabe will receive after 38 months if she deposits R13 300 into an acco
where money is worth 11,35% per year compounded every two months is
[1] R14 117,08.
[2] R15 690,19.
[3] R18 080,24.
[4] R18 865,83.
[5] R18 988,31.
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Question 5
Sakkie borrowed an amount of money from TheLulu.loan willbe paid back by means of payments of
R25 000 every second month for six years.
An interest rate of 7,75% per year compounded every second
month will be applicable.
The present value of the loan is
[1] R238 067,35.
[2] R400 738,72.
[3] R716 113,21.
[4] R900 000,00.
[5] R1 136 672,90.
Question 6
On 16 April, Nkosideposited an amount money
of in a savings account that earns 8,5% per annum,
simple interest.
He intends to withdraw the balance of R2 599 on 8 December of the same year (not lea
year) to buy himself a new bicycle.
The amount of money that Nkosi deposited is
[1] R2 460,03.
[2] R2 461,82.
[3] R2 463,60.
[4] R2 465,46.
[5] R2 458,18.
Question 7
Bi Cycle agreed to establish the Spike Fund from which they
paywill
Handle R2 500 per month indef-
initely as compensation for injuries he sustained while working on the Riley Money
project.is worth
12,5% per year, compounded monthly.The opening balance of this fund is
[1] R170 792,83.
[2] R200 000,00.
[3] R240 000,00.
[4] R281 869,63.
[5] R492 680,86.
Question 8
A furniture company charges a finance fee of 0,13% per week on outstanding balances.
The effective
rate per annum is
[1] 6,76%.
[2] 6,99%.
[3] 13,01%.
[4] 13,86%.
[5] 25%.
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