Trevor invests an amount of R20 000 in a bank. Calculate, using appropriate formulae, the accumulated amount after six years and the total interest he will receive, if the interest rate is: (a) (1) (2) 4,5% per annum simple interest 4,5% per annum compound interest mount
Trevor invests an amount of R20 000 in a bank. Calculate, using appropriate formulae, the accumulated amount after six years and the total interest he will receive, if the interest rate is: (a) (1) (2) 4,5% per annum simple interest 4,5% per annum compound interest mount
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Question
Transcribed Image Text:18 000
25
(1+1)
18
25
:-
-121
18
1+i
18
18
7. 1
25
-1
18
18 2
7
i0,178511302...
36
r 0,178511302... x100
r 17,9%
i 0,194444...
r0,194444...x100
r=19,4%
EXERCISE 1
Trevor invests an amount of R20 000 in a bank. Calculate, using appropriate formulae,
the accumulated amount after six years and the total interest he will receive, if the
interest rate is:
(a)
4,5% per annum simple interest
4,5% per annum compound interest
(1)
(2)
Refilwe wants to purchase a stove costing R12 000. She wants to pay back this amount
with interest in two years' time. The interest rate is 24% per annum simple interest.
(1)
(2)
(6)
Calculate the amount that she will repay in two years' time.
If she wants to pay the loan off in monthly payments over the two-year period,
what will her monthly payments be?
Nceba invested R500 000 in the share market. He managed to secure an average
compound interest rate of l14% per annum during the first two years.
(c)
(1)
Calculate the value of his investment at the end of the two-year period.
(2)
During the next three years, he managed to secure an average compound
interest rate of 12% per annum. What was his investment then worth at the end
of the next three years?
Seven years ago, a certain amount of money was invested in a bank, The value of the
investment is currently R350 000. Calculate the original amount invested (P) if the
interest rate was:
(d)
(1)
3,25% per annum simple interest
(2)
3,25% per annum compound interest
209
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