Question 5 Sakkie borrowed an amount of money from Lulu. The loan will be paid back by means of payments of R25 000 every second month for six years. An interest rate of 7,75% per year compounded every second month will be applicable. The present value of the loan is [1] R238 067,35. [2] R400 738,72 [3] R716113,21. [4] R900 000,00 [5] R1 136 672,90. Question 6 On 16 April, Nkosi deposited an amount of money in a savings account that earns 8,5% per annum, simple interest. He intends to withdraw the balance of R2599 on 8 December of the same year (not leap year) to buy himself a new bicycle. The amount of money that Nkosi deposited is [1] R2 460,03. [2] R2 461,82 [3] R2 463,60 [4] R2 465,46. [5] R2 458,18. Question 7 Bi Cycle agreed to establish the Spike Fund from which they will pay Handle R2 500 per month indef- initely as compensation for injuries he sustained while working on the Riley project. Money is worth 12,5% per year, compounded monthly. The opening balance of this fund is [1] R170 792,83. [2] R200 000,00 (3) R240 000,00 [4] R281 869,63 [5] R492680,86