Finance Review

Khensani invests R3 000 in a savings account giving 16% p.a. simple interest. How much can she withdraw after 10 years?

Daniele invests R3 000 in a savings account giving 23% p.a. compound interest. How much can she withdraw after 10 years?

Refilwe’s investment of R20 000 grows to R30 000 in 6 years. Calculate the annual rate of simple interest.

Ivan lends Milaika R450. Malaika pays back R600 after 3 years. What annual rate of compound interest does this represent?

Hua Fei wishes to have R50 000 when he finishes his degree in 7 years time. What amount must he invest now at 17,5% p.a. compound interest if he is to realize her goal?

Catarina buys an iPod for R4 000.  Three years later, Thierry buys the same one for

R5 500.  What annual rate of inflation does this represent?

Felino bought a lounge suite for R12 000 on hire purchase. He paid a deposit of

R2 000 and the balance over 2 years. There was an insurance charge of 5% of the purchase price, and interest on the balance at 7% p.a. What are his monthly instalments?

a)        Griffin has R5 850 to convert into US dollars.  How many dollars will the bank give him?

b)       On holiday Griffin spends only half of his dollars and converts the rest back into Rands.  How much does he end up with?

Callum arrives in South Africa with 20 000 000 Yen.  How many Rands will he receive?

TJ is going on a trip to Zambia.  He has R1 500 to take with.  How many Zambian Kwacha will he receive?