Name: Financial Maths 1
Created By: S. Deonarain
Max Time: 15 mins

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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?

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)

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)

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?

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 ?