Fatu took out an endowment policy.The first annual payment was Rx whereafter it increased yearly by R700.After 20yrs the policy paid out R1 005 962.The applicable yearly interest rate is 10%.The value of x is approximately?

Q.8Lesedi buys a house and makes a down payment of 16% of the price of the house. For the remaining amount she manages to secure a loan at an interest rate of 12.05% per year, compounded monthly for a period of 20 years. Her monthly payment is R18556.84. The size of the loan (to the nearest rand ) is?

The down payment is?

Q.10Prince wants to open a hair saloon and asks his uncle Lerumo if he could lend him the money. He also indicates that he will be able paying him back after 5years at which time he will then pay R35000 at the end of every four months for four years. Uncle Lerumo agrees on condition that his money must earn 12.2% interest per year compounded every four months.

 

The present value of Prince debt when he starts paying back uncle Lerumo after 5years will be ?

The amount that uncle Lerumo lends Prince is?

Q.15 Monthly payments of R1200 are made into an account earning 7.75% interest per year compounded quarterly. The accumulated amount rounded to the nearest hundred rand rand after 10years is?

Answer rating: 100% (QA)

Q8 Let the price of the house be P Then the down payment made by Lesedi is 16 of P which is 016P The ... View the full answer