Financial Math Answers

abongile, the manager of a construction company is renovating a home and has expenses of R200 000,00 now and another R41 812,00 in six months time.as he finds it difficult to find the cash now, he proposes to settlle all the debt after six months with a single payment. the debt is subject to an interest rate of 9.5% per annum, compounded quarterly. what is the value of the payment that will settle his debt at the end of month six?

Six years ago Olwethu lent Happy R150 000 on condition that he would pay her back in nine years time. The applicable interest rate is 15,5% per year, compounded monthly. Happy also owes Olwethu another amount of R250 000 that he has to pay back six years from now for a loan that earned interest at 16,4% per year, compounded semi-annually. Happy asks Olwethu if he an settle both his debts three years from now. The total amount that Happy will have to pay Olwethu three years from now is

An interest rate of 14,90% per year,

compounded every 3 months. What is equivalent interest rate compounded weekly?

Pamela borrows an amount of money for emergency house repairs. The interest on the loan is compounded quarterly. After four years the debt accumulated by R7980,00 to the amount of R32923,00. The yearly interest rate, expressed as a percentage and rounded to two decimal places, at which the money was borrowed, is

Pamela borrows an amount of money for emergency house repairs. The interest on the loan is compounded quarterly. After four years the debt accumulated by R7980,00 to the amount of R32923,00. The yearly interest rate, expressed as a percentage and rounded to two decimal places, at which the money was borrowed, is

Lindiwe decides that she would like to buy her daughter a car when she turns 21 in six years time .She deposits R 6000 each month into an account earning 8.94% interest per year compounded monthly. The amount that Lindiwe will have available in six years from now is.

Kagiso wants to buy a new gaming computer for R40 000. He decides to save by depositing an amount of R400 quarterly into an account earning 16% interest per year, compounded quarterly. The approximate number of quarters it will take Kagiso to have R40 000 available is

A.

28 quarters.

B.

41 quarters.

C.

40 quarters.

D.

12 quarters.

Kagiso wants to buy a new gaming computer for R40 000. He decides to save by depositing an amount of R400 quarterly into an account earning 16% interest per year, compounded quarterly. The approximate number of quarters it will take Kagiso to have R40 000 available is

Sbusiso needs R150 000 on 17 November 2022 to upgrade his restaurant. On 8 January 2022 he deposited an amount into an account earning 13,45% interest per year, compounded monthly, and being credited on the 1st of every month. If fractional compounding is used for the full term, then the amount that Sbusiso deposited on 8 January 2022 was

Six years ago Olwethu lent Happy R150 000 on condition that he would pay her back in nine years time. The applicable interest rate is 15,5% per year, compounded monthly. Happy also owes Olwethu another amount of R250 000 that he has to pay back six years from now for a loan that earned interest at 16,4% per year, compounded semi-annually. Happy asks Olwethu if he an settle both his debts three years from now. The total amount that Happy will have to pay Olwethu three years from now is