Fin2603 Assignment 2 semester 1 2024

Assessment 2: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=180




FIN2603-24-S1  Welcome Message  Assessment 2

QUIZ




Started on Tuesday, 23 April 2024, 8:22 AM
State Finished
Completed on Tuesday, 23 April 2024, 8:47 AM
Time taken 24 mins 19 secs


Question 1

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... is the interest earned on a given deposit that has become part of the sum at the
end of a speci�ed period.


a. Simple interest
b. Compound interest
c. The interest rate
d. The internal rate of return




Question 2

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At what annual interest rate must a single amount of R5 000 be invested for 5 years
to yield approximately R7 500?


a. 7.20%
b. 10.76%
c. 8.45%
d. 9.86%




1 of 10 4/23/2024, 8:47

,Assessment 2: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=180


Question 3

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Ben Johnson has arranged for a 60-day loan at an annual interest rate of 7.5% per
annum. If the loan amount is R1 000 000, how much interest will Mr Johnson pay in
rand terms? (Assume a 360-day year.)


a. R25 000
b. R75 000
c. R0
d. R12 500




Question 4

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Calculate the difference between the following two investment proposals.
(a) R1 401.82 invested annually for �ve successive years at 9% per annum.
(b) R5 209.22 invested for �ve years at 10% per annum compound interest.


a. R0
b. R 80.25
c. R100.35
d. R 36.10




Question 5

Complete

Marked out of 1.00




Calculate the future value (FV) of R15 000 invested for six years at an interest rate of
8%, compounded monthly.


a. R26 734
b. R14 026
c. R23 803
d. R24 260




2 of 10 4/23/2024, 8:47