Mr. Been invest R 20 000 at his local bank. It was agreed by the respective parties that the term of this investment will be 4 years and 7 months and that he will receive a single payment at the end of this term. Initially interest on this investment was calculated at an effective rate of 13.5% per annum. After 36 months, the bank changed their policy concerning the interest rate so that for the remainder of the term interest has to be calculated at a rate of 13.5% per annum compounded monthly. What amount of interest will Mr. Been receive from his investment?

You decide to save R 225 at the beginning of each month for the next two and a half years, which you then plan to use as spending money on a vacation after completing your studies.The account into which this money is deposited earns interest at a rate of 9% per annum, compounded monthly. How much would you have in the bank at the end of the term?

The UFS estimates that they will need R 450 000 in one and a half years' time and another R 720 000 in two and a half years' time to cover the expected cost of providing each registered student with a Kovsie dairy.If interest is calculated at 6.4% p.a., compounded semi-annually, how much must the UFS invest today in order to cover the expected future costs?

How long will it take an amount of R 5 000 to earn R 150 interest if a rate of 4 % per annum simple interest is used?

How much must be invested today if you want to receive R15000 at the beginning of every quarter for the next 11 years from a financial institution that offers 9% effective interest per annum compounded quarterly.

Andrew wants to buy a second-hand car for R60000. He has one of two options: / Andrew wilgraag 'n tweedehandsemotor van R60000 koop. Hy het een van twee opsies:

Option 1: / Opsie 1:Borrow R60000 from the bank and pay the loan back monthly over 'n period of 4 years. / Leen R60000 by die bank enbetaal die leningmaandeliksafoor 'n periode van 4 jaar.

Option 2:/ Opsie 2:Buy the car for a cash amount of R60000 after first saving an amount monthly for 4 years. / Koop die motor kontantvir R60000 nadathyeersvir 4 jaarmaandeliks 'n bedraggespaar het.

Assume that the interest is 18% per annum compounded monthly for both options.Which option will be more profitable for Andrew? (Calculate the regular payment for both options and see which option is the cheapest.)