Answer to Question #134135 in Mechanics | Relativity for Ishmael Rashid

Question

1. Suppose you wish to invest N$2,000 today so that you have N$6,000 six years from now. What must the annual interest rate be to achieve your goal if interest is compounded monthly? [4]

2. Assume that the current rate of inflation on housing is estimated at 10% per annum. Lydia's house is currently valued at N$ 450 000.
(a) How much could you expect to sell it for in 5 years? [3]
(b) Is it worthwhile to sell your house now or in five years, justify your answer? [2]

3. You want to buy a cellphone at the end of the year which will cost you N$ 4500. Assume on 1 January 2020 you open up a Unit trust which pays 6.5% interest per month. How much should you invest (starting from January) to yield N$4500 in December 2020? [4]

4. According to a survey carried out in 2019, the biomass of crabs in a particular region was estimated to be 5 350 MT. In 2014, the biomass was estimated to be 3 897 MT. Calculate the annual rate of growth of the crab’s population? [4]

Answer 1

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