DSC1630 Oct/Nov 2013 exam paper — questions

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99.89999999999996 of 100 marks extracted so far — the rest is still being read.

  1. Question 1 · Simple interest and simple discount

    Lulu opens a savings account earning 8,47% simple interest per year in order to save up for an oriental carpet. She plans to buy the carpet in 20 months' time, when she visits her aunt in Turkey. If the carpet will cost R18 000, calculate the amount Lulu must invest now to reach this goal.Show the full question

  2. Question 2 · Simple interest and simple discount

    You are quoted a simple discount rate of 14,29% for an eight-month period. Determine the equivalent simple interest rate for this period.Show the full question

  3. Question 3 · Compound interest and effective rates

    Greg deposits R13 300 into an account that pays 11,35% interest per year, compounded every two months. Calculate the accumulated amount Greg will receive after 38 months.Show the full question

  4. Question 4 · Compound interest and effective rates

    Charlie invested a sum of money in an account earning interest at a continuous compounding rate of 10,15% per year, and received R32 412,87 back. Determine, approximately, how much money he had invested 57 weeks earlier.Show the full question

  5. Question 5 · Compound interest and effective rates

    Four years ago, Piet borrowed R35 000 from Ina at 11,3% per year, compounded semi-annually, with this amount payable three years from now. Piet must also pay Ina R50 000 five years from now, at an applicable interest rate of 10,1% per year, compounded quarterly, for this second obligation. Calculate the total amount Piet will owe Ina three years from now.Show the full question

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