1. You are 24 years old, and an entrepreneur. You wish to provide for your old age. Imagine that you invest R36 000 per year at an effective rate of return of 9% per year for the next 40 years, with the first deposit beginning one year hence. How much money will you have after 40 years?

2. You have just borrowed R40 000, which must be repaid in 3 equal installments. The annual interest rate is 9,5%. Calculate the annual installments?

3. James is considering buying a car for R140 000. The bank has quoted him an interest rate of 12% per annum, compounded monthly. If he wishes to repay the principal amount over 50 months. Calculate his monthly instalment?