Financial Math Answers

Mia Benson invested her summer earnings of R3 000 in a savings account which pays 2.5% interest. How much will this amount be in 6 months?

What is the maturity value of a loan of Php64,000 earning an interest of Php12,733?

What is the maturity value of a loan of R64 000 earning an interest of R12 733?

How long will R60,000 accumulate to R62,430 if the simple interest rate agreed is 1.50%?

How long will Php60,000 accumulate to Php62,430 if the simple interest rate agreed is 1.50%?

The loan of Php1,350 is to be repaid in 1 year at 4.5% simple interest. How much is added to the loan?

How much was borrowed if a simple interest rate of 2.10% was offered payable in 4 months with interest of Php35.00?

How many months will it take Php15,000 to earn Php56.25 at 1.5% simple interest rate?

What is the simple interest on a Php500 loan at 2.5% interest to be paid at the end of 6 months?

QUESTION ONE

You are provided with the following information taken from the books of

Mackenzie manufacturing company (MMC) for the month ending 31st

December, 2017.

Costs incurred (Tshs. ‘000)

Depreciation – factory buildings 60,000

Depreciation – office buildings 12,000

Salesmen commissions 52,000

Rent – factory 120,000

Rent-office 90,000

Indirect labour 84,000

Direct raw materials 190,000

Direct labour cost 135,000

Maintenance –factory buildings 36,000

Maintenance –office buildings 22,500

Supplies factory 10,000

Raw materials – 1/12/2017 12,000

Raw materials – 31/12/2017 15,000

Work in process – 1/12/2017 7,500

Work in process – 31/12/2017 30,000

Required;

Prepare the cost statement in good form (15 marks)