DSC1630 May/Jun 2014 exam paper — questions

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99.99999999999997 of 100 marks extracted so far — the rest is still being read.

  1. Question 1 · Simple interest and simple discount

    Nicci placed a sum of money into an account on 21 January 2014, where it earned simple interest at 6,5% per year. By 9 May 2014 the balance had grown to R1 200. Determine which of the following amounts she originally invested on 21 January.Show the full question

  2. Question 2 · Compound interest and effective rates

    Karin won R165 000 and decided to deposit 65% of this amount into an account earning 8,25% interest, compounded every four months. Determine the accumulated amount after five years, choosing from: R151 490,63; R161 110,84; R161 332,31; R247 862,83; R248 203,55.Show the full question

  3. Question 3 · Annuities, perpetuities and sinking funds

    You want to save up R4 000 to buy a new phone. To do this, you deposit R100 into a savings account at the end of every month, and the account pays interest at 9% per annum, compounded monthly. Determine how long it will take to accumulate R4 000, giving your answer to the nearest month. Choose the correct option: [1] 18 months, [2] 35 months, [3] 48 months, [4] 494 months, [5] None of the above.Show the full question

  4. Question 4 · Compound interest and effective rates

    Determine the effective interest rate that corresponds to a nominal rate of 17.5% compounded continuously. Select the correct answer from the options given.Show the full question

  5. Question 5 · Compound interest and effective rates

    Questions 5 and 6 refer to the following scenario: Maria Mahlangu plans to open her Sew and Go shop on 25 October 2014. On 6 February 2014 she deposited R50 000 into an account that earns 8,9% per year, compounded every two months. Interest is calculated on 1 January, 1 March, 1 May, 1 July, 1 September and 1 November of each year. Using the scenario where Maria Mahlangu deposited R50 000 on 6 February 2014 into an account earning 8,9% per year compounded every two months (with interest calculated on 1 January, 1 March, 1 May, 1 July, 1 September and 1 November of each year), suppose simple interest is applied for the odd (broken) periods and compound interest is applied for the remaining full periods. Determine which of the following amounts Maria will have available when she opens her shop on 25 October 2014: [1] R53 182,05; [2] R53 205,54; [3] R53 230,28; [4] R53 243,19; [5] none of the above.Show the full question

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