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Test List
Name:
Financial Maths 1
Created By:
S. Deonarain
Max Time:
15 mins
Select an option for each question and click Submit
1. Sam invests R 12 000 in Invest Bank at a rate of 12% p.a compounded monthly. How much will he have at the end of 5 years?
R 12 612,36
R 13 440,00
R 21148,36
R21 800,36
2. A car depreciates on the diminishing balance method at a rate of 13% p.a. After how long will the car have a value of R 15 500 if its present value is R 31 000 ? (nearest year)
4
5
6
7
3. Thembi has R 10 000 and wants to invest it at 12% p.a. compounded monthly. For how long should she invest if she wants to double it? (nearest month)
70
60
55
75
4. Jonas wants to study at university. His parents wants to invest in a policy for this. How much must they save monthly in a fixed savings account at 8% p.a. if they will need R 300 000 in 8 years time?
R 3 416,62
R 4 482,00
R 2 237,11
R 28 204,43
5. Talent wishes to purchase a flat valued at R 180 000. He has a 10% deposit. The bank offers him a loan at 13,5% p.a. compounded monthly, over a 20 year period . What instalment must he pay ?
R 1 560
R 7 476
R 16 200
R 8 100
