Question 7 7.1 Find the Present Value of a monthly perpetuity of R3000 at 1.5% interest rate compounded monthly. 7.2 In order for Mr X to replace his machine in the future, He places equal payments into a sinking fund at the end of each year so that after 10 years the amount in the fund is R25 000. The fund earns 6% compounded annually. After 6 six years, the interest rate increases, and the fund pays 7% compounded annually. Because of the high interest rate, Mr X decreases the amount of the remaining payments. Find the amount of the new payment (Round off your answer to the nearest rand) Question 8 Consider the inequality: 25x + 50y