Mrs JD wants to pay for her daughter's university education. She will deposit R5 000 at...

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Mrs JD wants to pay for her daughter's university education. She will deposit R5 000 at the beginning of every six months for the next 10 years in an investment product with Quantum Bank. The investment product pays interest at 12% per annum compounded monthly. Required: 2.1 How much will Mrs JD have in her account at the end of the investment period. Show all calculations. (3) Scenario 2 Mr SB wishes to apply for a mortgage loan of R1.2 million from EBN Bank to buy a new house. EBN Bank requires a down payment of 20% on the loan. The term of the loan is 20 years, and the interest rate is prime minus 8 basis points. The prime lending rate is currently at 9.75%. Required: 2.2 How much is SB's monthly payment on the mortgage loan? (Calculate the interest percentage and loan amount separately.) (3) 2.3 Draw up an amortisation schedule for the first 3 months of the loan (use the amortisation schedule format provided below) Amortisation schedule format (3) Period Payment Month 0 Month 1 Month 2 Month 3 Interest Principal Balance Scenario 3 A company wants to borrow R1 000 000 from Super Bank at an interest rate of 18% per annum compounded annually. The capital plus interest will be repaid over the next four (4) years so that it can have enough funds to acquire manufacturing equipment. The loan requires that a sinking fund is created. The deposits to the fund can earn interest of 10% per annum. Required: 2.4 Calculate the amount the company needs to deposit into the sinking fund product to enable it to pay off the loan of R1 000 000 at the end of four (4) years. (2) 2.5 Construct a sinking fund schedule for the entire period of the investment (a sinking fund schedule format is provided below) Sinking fund schedule format End of year Sinking fund deposit (4) Interest on Increase Balance in fund at sinking fund in fund the end of the period 1234 Note You can use formulas or a financial calculator. With the exception of 2.3, round off only final answers to two (2) decimal places (intermittent answers should not be rounded off). Question 2.3 should be rounded off to the nearest whole number. Show all steps in calculation whether using a formular or when using financial calculator. Mrs JD wants to pay for her daughter's university education. She will deposit R5 000 at the beginning of every six months for the next 10 years in an investment product with Quantum Bank. The investment product pays interest at 12% per annum compounded monthly. Required: 2.1 How much will Mrs JD have in her account at the end of the investment period. Show all calculations. (3) Scenario 2 Mr SB wishes to apply for a mortgage loan of R1.2 million from EBN Bank to buy a new house. EBN Bank requires a down payment of 20% on the loan. The term of the loan is 20 years, and the interest rate is prime minus 8 basis points. The prime lending rate is currently at 9.75%. Required: 2.2 How much is SB's monthly payment on the mortgage loan? (Calculate the interest percentage and loan amount separately.) (3) 2.3 Draw up an amortisation schedule for the first 3 months of the loan (use the amortisation schedule format provided below) Amortisation schedule format (3) Period Payment Month 0 Month 1 Month 2 Month 3 Interest Principal Balance Scenario 3 A company wants to borrow R1 000 000 from Super Bank at an interest rate of 18% per annum compounded annually. The capital plus interest will be repaid over the next four (4) years so that it can have enough funds to acquire manufacturing equipment. The loan requires that a sinking fund is created. The deposits to the fund can earn interest of 10% per annum. Required: 2.4 Calculate the amount the company needs to deposit into the sinking fund product to enable it to pay off the loan of R1 000 000 at the end of four (4) years. (2) 2.5 Construct a sinking fund schedule for the entire period of the investment (a sinking fund schedule format is provided below) Sinking fund schedule format End of year Sinking fund deposit (4) Interest on Increase Balance in fund at sinking fund in fund the end of the period 1234 Note You can use formulas or a financial calculator. With the exception of 2.3, round off only final answers to two (2) decimal places (intermittent answers should not be rounded off). Question 2.3 should be rounded off to the nearest whole number. Show all steps in calculation whether using a formular or when using financial calculator.