- Question 5 On His 40th Birthday Ofentse Decides He Will Buy A Bike Trailer For His 50th Birthday He Estimates That It W 1 (136.33 KiB) Viewed 28 times
Question 5 On his 40th birthday Ofentse decides he will buy a bike trailer for his 50th birthday. He estimates that it will cost him R48 000 when he turns 50. He starts saving immediately each month paying an amount into an account earning 8,58% interest per year, compounded monthly. The monthly payment is [1] [2] 3 [4 R592,95. R597,19. R252,18 R253,99. 13 DSC1630/Ass1-4 Question 6 Fatu took out an endowment policy. The first annual payment was Rx, whereafter it increased yearly by R1 700. After 20 years the policy paid out R1 005962. The applicable yearly interest rate is 10%. The value of x is approximately [1] [2] [3] R11816. R17564. R6 500 R564. Question 7 Zanele is getting married 16 months from now and estimates that she will need R45 000 then for new clothes for her honeymoon. She starts to save immediately by depositing R2 200 every month for 16 months into an account earning 15,4% interest per year, compounded monthly. The amount, in rands, that she still needs when she gets married is denoted by [1] [2] [3] [4 X = 45 000 - (1 + i)2 200s 1610,154:12: X = 45 000 - (1 + i)2 200a 76/0,154:12 X = 45 000 - 2 2008 1670,154:12 X = 45 000 - 2 2000 1610.154:12. Questions 8 and 9 are based on the following situation: Lesedi buys a house and makes a down payment of 16% of the price of the house. For the remaining amount, she manages to secure a loan at an interest rate of 12,05% per year, compounded monthly, for a period of 20 years. Her monthly payment is R18 556,84. Question 8 The size of the loan to the nearest rand) is R4453 642 [1] [2] [3] R1 680 000. R2167317. R1333 820.