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MAC2602 assignment 1 solutions semester 1 2024 (QUIZ 20 QUESTIONS)
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MAC2602 Assignment 1 solutions semster 1 2024 Closes: Tuesday, 19 March 2024, 11:00 PM: CODE: 703790
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MAC2602ASSIGNMENT 1 SEMESTER 1 2024
Unique Number: 703790
DUE DATE: : 19 March 2024
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Completed on Saturday, 16 March 2024, 9:48 PM
Time taken 58 mins
Marks 40.00/50.00
Grade 80.00 out of 100.00
Question 1
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Question text
Motseko would like to invest R80 000 at the end of each year at an annual compound
interest rate of 15%. Determine the value of the investment after five years by using the
mathematical formula. Set your calculator to four decimal places and round your final
answer to the nearest rand. Slight rounding differences may occur - choose the alternative
that is closest to your answer.
(a) R367 445
(b) R539 416
(c) R 53 942
(d) R 80 912
Select one:
a.
R 80 912
b.
R367 445
c.
R539 416
d.
R 53 942
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
, 0688120934
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Question 1
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Marked out of 3.00
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Question text
Motseko would like to invest R80 000 at the end of each year at an annual compound
interest rate of 15%. Determine the value of the investment after five years by using the
mathematical formula. Set your calculator to four decimal places and round your final
answer to the nearest rand. Slight rounding differences may occur - choose the alternative
that is closest to your answer.
(a) R367 445
(b) R539 416
(c) R 53 942
(d) R 80 912
Select one:
a.
R 80 912
b.
R367 445
c.
R539 416
d.
R 53 942
Clear my choice
Question 2
Not yet answered
Marked out of 3.00
Flag question
Question text
You inherited money and want to invest it at the best return. After visiting a few banks for
advice, you have two options. The first option offers a rate of 3% compounded 4 monthly
and the second option offers a rate of 5% compounded bi-annually. Which option with its
matching effective annual rate is the best option? Set your calculator to four decimal places.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
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