Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jeremy invests R25 000 in a special account on 5 March 2021 and will leave it there until 27 November 2021. Interest is credited on

image text in transcribedimage text in transcribedimage text in transcribed

Jeremy invests R25 000 in a special account on 5 March 2021 and will leave it there until 27 November 2021. Interest is credited on the first day of every month at 12,35% per year, compounded monthly. Simple interest is used for the odd periods and compounded interest for full periods. If fractional compounding is used, what will the accumulated amount be? A. R27 335,72 B. R27 258,53 C. R27 482.83 D. R27 351,06 E. R27 341,09 Reset Selection DSC1630_2021 TL....pdf DSC1630_2021_so..pdf DSC1630_2021_SO....pdf at ang Upaste 4 Jeremy invests R25 000 in a special account on 5 March 2021 and will leave it there until 27 November 2021. Interest is credited on the first day of every month at 12,35% per year, compounded monthly. Simple interest is used for the odd periods and compounded interest for full periods. If fractional compounding is used, what will the accumulated amount be? A. R27 335,72 B. R27 258,53 C. R27 482.83 D. R27 351,06 E. R27 341,09 Reset Selection DSC1630_2021 TL....pdf DSC1630_2021_so..pdf DSC1630_2021_SO....pdf at ang Upaste 4 The following is an extract from an amortisation schedule for Amanda's Bakery Shop. The loan will be paid off in 15 years. Outstanding principal Interest due Principal Month at the beginning of at the end of Payment repaid the month the month 15 R385 232,41 R3 081,86 R1 119,21 A What is the value of A? A. R125,00 B. R1 962,65 C. R4 201.07 D. R2 140.18 E. R344.20 Reset Selection

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Emotions In Finance Booms Busts And Uncertainty

Authors: Jocelyn Pixley

2nd Edition

1107633370, 978-1107633377

More Books

Students also viewed these Finance questions