Financial Math Answers

Siphesihle borrows money from the bank at a discount rate of 16,5% per year. He must pay the bank R30 000 in eight months from now. The amount of money he receives from the bank now is

1.     R33 707,87.

2.     R26 700,00.

3.     R27 027,03.

4.     R33 463,26.

5.     R33 300,00

The amount of money that Gali has to invest at a simple interest rate of 15% per year, to earn R5 250 interest after three years, is

[1] R5 249,48.

[2] R122 500,00.

[3] R11 666,67.

[4] R10 000,00

[5] R3 620,69.

An amount of R4 317,26 was borrowed on 5 May at a simple interest rate of 15% per year. The loan will be worth R4 500 on

[1] 16 August.

[2] 12 August.

[3] 21 August.

[4] 9 October.

[5] none of the above.

Bonita invested R40 000 in order to have R56 000 available in 30 months' time. The yearly rate, compounded semi-annually, is

[1] 7,21%.

[2] 16,00%.

[3] 8,00%.

[4] 14,41%.

[5] 13,92%.

Nina borrowed money on 31 August and agreed to pay back the loan on 2 November of the same year. If the discount rate is 18% per year and she received R5 000 on 31 August, what is the value of the loan that Nina has to pay the bank on 2 November?

[1] R5 155,34

[2] R4 844,66

[3] R5 160,32

[4] R5 000,00

[5] None of the above

Erol invests R8 350 in an amount that pays simple interest. After six years, the amount that he receives back 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.

An investment of R20 000 accumulated to R45 200. If the applicable simple interest rate is 12% per year, then the time under consideration is

[1] 10,50 years.

[2] 15,12 years.

[3] 7,19 years.

[4] 4,65 years.

[5] 3,25 years

Vhutshilo won R165 000 and decided to deposit 65% of this amount in an a amount 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, ompounded at the end of every se ond month, then the ee tive interest rate is

[1] 18,00%.

[2] 16,18%.

[3] 14,53%.

[4] 16,68%.

[5] 17,68%