1) A borrower is repaying a loan by making payments of R1 000,00 at the end of one year, R1 350,00 at the end of two years and R1 760,00 at the end of three years. The interest rate on the loan is 13% per year, compounded yearly. The payment, to the nearest rand, which could be made at the end of the first year in order to discharge the loan, is

2) Lerato opens a savings account that earns interest at a rate 10,75% per year, compounded quarterly. He will deposit R3 595,00 into this account at the end of every three months starting three months from now. The amount that he will have in this account after five and a half years is

3) A new car is going to cost the buyer R165 000,00. The buyer intends to make a down payment and finance the balance with equal payments of R5 837,55 at the end of each month for the next two years. The interest rate of the loan is 15% per year, compounded monthly. The amount of the down payment is equal to

Questions 4 and 5 are based on the following information: A school sells its old bus and uses the proceeds as a 15% deposit for the purchase of a new bus, which costs R330 000,00. To finance the balance of the purchase, the school takes out a loan that is subject to an interest rate of 13,5% per year, compounded monthly. The repayment period of the loan is 3 years.

4) The school repays the loan in equal payments at the end of each month. The size of these payments is equal to

5) The total amount of money that the school pays for the bus, rounded to the nearest rand, is

Questions 6 to 8 are based on the following information

A loan of R15080,00 is being repaid by 14' half-yearly payments, with the rst payment made one half year after the loan is taken out. The interest rate is 9% per year, compounded haif-yearty. The size of each of the haif-yearty payments is R1 475,13. This is represented by the following time tine: R1475,13 R1475,13 4- R1475,13 4- R1475,13 - R1475,13 R1475,13 1- R1 475,13 ._. IO 0': -.,; years 14 half years ._. IO 09 a; I I I I I I I I I I I I I I I I ._. to H in 0 l R1503U,U'U @ 9% per year, compounded halfyearly