QUESTION 3 (12 MARKS, 22 MINUTES) You have recenty been appointed as a francial consultant Consult 99 (Py) Ltd COorsu 99). Consutse provides various business and personal consulting services. The main branch is located in Durban, Kwa-Zulu Natal Due to the recent pendemic, most employees have been working from home. As part of your frst task you received the following email from your supervisor: From: John@consu99.co.za Date: 30 November 2001 Subject: Clent les Good day I hope you are blending-h well with our company. We are very excited to have you on our team. We are currently behind schedule and would like you to assist us h completing some of the clientes (See attachments 1 and 21 Kind regards Attachment 1: Mrs Moleks would like to reare in six (6) years time. Shehes been a clent of Consu 99 for the post 10 years. Ddate, she les saved a total amount of R3 600 000. She would like to hves: this amount with OK Bank where she will earn an interest rate of 99 per annum compounded quarterly. Over and above the Intial vestment of R3 600 000, she will contribute an amount of R6 100 at the beginning of each quarter until she retres. She anticipates that she will need a total amount of at leas: R6 000 000 to retire comfortably Attachment 2: Mr Sebergens took a loan with Bosta Cash Loers exactly three) 3 years ago. The total en amount wes R200 000 at an Interest rate of 21.496 per annum compounded monthly. The total term for the loan is five (5) years. Excectly today, he was formed that his credt profe had been reviewed and his annual Interest rate would decrease by 1.496 elective Immediately REQUIRED FOR QUESTION 3 Subtotal Total 5 5 with regards to the formation in Aachment 1 callou late and advise Mrs Molekce, whether or not, she will be able to achieve her retrement goal QUESTION 3 (12 MARKS, 22 MINUTES) You have recenty been appointed as a francial consultant Consult 99 (Py) Ltd COorsu 99). Consutse provides various business and personal consulting services. The main branch is located in Durban, Kwa-Zulu Natal Due to the recent pendemic, most employees have been working from home. As part of your frst task you received the following email from your supervisor: From: John@consu99.co.za Date: 30 November 2001 Subject: Clent les Good day I hope you are blending-h well with our company. We are very excited to have you on our team. We are currently behind schedule and would like you to assist us h completing some of the clientes (See attachments 1 and 21 Kind regards Attachment 1: Mrs Moleks would like to reare in six (6) years time. Shehes been a clent of Consu 99 for the post 10 years. Ddate, she les saved a total amount of R3 600 000. She would like to hves: this amount with OK Bank where she will earn an interest rate of 99 per annum compounded quarterly. Over and above the Intial vestment of R3 600 000, she will contribute an amount of R6 100 at the beginning of each quarter until she retres. She anticipates that she will need a total amount of at leas: R6 000 000 to retire comfortably Attachment 2: Mr Sebergens took a loan with Bosta Cash Loers exactly three) 3 years ago. The total en amount wes R200 000 at an Interest rate of 21.496 per annum compounded monthly. The total term for the loan is five (5) years. Excectly today, he was formed that his credt profe had been reviewed and his annual Interest rate would decrease by 1.496 elective Immediately REQUIRED FOR QUESTION 3 Subtotal Total 5 5 with regards to the formation in Aachment 1 callou late and advise Mrs Molekce, whether or not, she will be able to achieve her retrement goal
