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Finance Review

Authored by Monique Tee

Mathematics

10th Grade

Used 11+ times

Finance Review
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11 questions

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1.

OPEN ENDED QUESTION

5 mins • Ungraded

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

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2.

OPEN ENDED QUESTION

5 mins • Ungraded

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

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3.

OPEN ENDED QUESTION

5 mins • Ungraded

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

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4.

OPEN ENDED QUESTION

5 mins • Ungraded

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

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5.

OPEN ENDED QUESTION

5 mins • Ungraded

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?

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6.

OPEN ENDED QUESTION

5 mins • Ungraded

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?

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7.

OPEN ENDED QUESTION

5 mins • Ungraded

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?

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