Financial Math Answers

Vhutshilo won R165 000 and decided to deposit 65% of this amount in an account earning 8,25% interest per year, compounded every four months. The accumulated amount after five years is

1.     R247 862,83.

2.     R151 490,63.

3.     R248 203,55.

4.     R161 110,84.

5.     R161 332,31.

An effective rate of 29,61% corresponds to a nominal rate, compounded weekly, of

1.     29,53%.

2.     29,61%.

3.     34,35%.

4.     26,00%.

5.     none of the above.

If the nominal interest rate per year is 16,5% per annum, compounded at the end of every second month, then the effective interest rate is

1.     18,00%.

2.     16,18%.

3.     14,53%.

4.     16,68%.

5.     17,68%.

Lesiba invests an amount of money in an amount earning 13,88% interest per year, compounded weekly. After five years, this amount has accumulated to R50 000. The amount that was invested initially is

1.     R26 105,54.

2.     R15 300,00.

3.     R29 515,94

4.     R25 001,79.

5.     R34 700,00.

The accumulated amount that you will receive after 52 months if you deposit R7 300 into an amount which earns 9,7% interest per year, compounded every second month, is

1.     R7 825,36.

2.     R10 368,43.

3.     R11 076,73.

4.     R8 388,53.

5.     none of the above.

Answer

5.     none of the above.

A sum of R1 000 is due in five months' time from now, at a simple interest rate of 12% per annum. The present value of the sum is

1.     R952,38.

2.     R567,43.

3.     R1 050,00.

4.     R625,00.

5.     none of the above

If a simple interest rate of 24% per year, is equivalent to a simple discount rate of 20,5% per year, then the time under consideration is approximately

1.     854 days.

2.     711 days.

3.     312 days.

4.     260 days.

5.     304 days.

Jasleen is single and has a taxable income of $60,982. How much tax does

she owe?

Kandy is financing a $335,000 mortgage for 30 years at a fixed rate of 7.45% what is the total cost of the principal and interest after 30 years

Phathu needs R10 500 in ten months' time to buy herself a new lens for her camera. Two months ago she deposited R9 000 in a savings account at a simple interest rate of 11,5% per year. How mu h money will Phathu still need to buy the lens ten months from now?

1.     R465,00

2.     R229,50

3.     R637,50

4.     R408,67

5.     None of the above