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You owe $500 on a credit card that charges 1.5% interest each month. You can pay $50 each month with no new charges. What is the equilibrium value? What does the equilibrium value mean in terms of the credit card? Build a numerical solution. When will the account be paid off? How much is the last payment?
You would like to buy a house, but you can only afford monthly payments of R500. Thirty-year loans are available at 6% interest compounded monthly. If you can make a R5 000 down payment, what is the price of the most expensive house that you can afford to purchase?
Round of the answer to this question to the nearest rand . David borrowed R911012 to refurbish his holiday home. The loan requires monthly repayment over 12 years . When he borrowed the money the interest rate was 12,4% per annum, compounded monthly but five years later the bank increase the annual interest rate to 13,9% in line with market rates . After five years the present value of the loan is R682081,77. With the new interest rate , his monthly payments will increase by ?
$500 is deposited in an account which bears 12% p.a. interest compounded monthly. How many years it would take to accumulate $500 to $806.11
The city council wants to sponsor 150 bags for their organization’s scholars. Each bag
costs $375. If they were to buy from the factory, they will be given 45% off the total
purchase. However, if they buy from the store they will be given 50% off the price for
each bag. Where will they have a cheaper purchase?
Buildmazing Developers need an amount of money to expand their business. They secure a loan at an
interest rate of 10,5% per year, compounded annually. The outstanding balance will be repaid in equal
payments of R137 828,00 at the end of each year for the next seven years. Considering the amortisation
schedule, the principle repaid during the first three years, rounded to the nearest rand,is
Use the information given below to calculate the net wage of H, Kane for the last week of May 2021.
INFORMATION:
H, Kane is employed by Hot- Spur Enterprises. The normal working week is 45 hours.
H, Kane worked for 48 hours during the last week of May 2021.
She is remunerated at R80 per hour during normal working hours.
Overtime is calculated at 1½ times the normal rate.
The following are her deductions for the week:
- Medical aid fund R350
- Pension fund 8% of the normal wages
- Income tax R830
Hot- Spur Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund.
The following transactions of Hector Limited took place during January 2022 in respect of component J used in production:
- Stock of component J on hand - 150 units @ R24 per unit
- Issued to production - 110 units
- Purchased from supplier - 200 units @ R25 per unit
- Returned to supplier (purchased on 12 January 2022) - 30 units
- Issued to production - 170 units
- Purchased from supplier - 140 units @ R26 per unit
- Issued to production - 130 units
Calculate the value of closing inventory on 31 January 2022 using the:
- First-in-first-out (FIFO) method
- Weighted Average Cost Method
Arturo started to deposit 2,000 monthly in a fund that pays 8% compounded quarterly how much will be in the fan after 20 years
Find the simple interest gained by €2000 over 4 years at 6% annual interest
#339914 on Dec 2023