Finance Question

A photocopier valued at 1124 000 depreciates at a rate of 18% P. as the reducing-balance method. Also how many years seal its value be R.15 000?

A car that costs 15130 000 is advertised in the following way: ‘NO deposit necessary and first payment due three months after date of puAllase ‘ The interest rate quoted is IMA p.a. compounded monMly.

Calculate the amount owing two months after the purchase date, winch Is one month before the …monthly payment is due.

Herschel bought this car on I March 2009 and made his rust payment on daye 2009. Thereafter he made another 53 equal payments on the first f each month

  • Calculate his monthly repayments
  • Calculate the total of MI Herschel’s repayments.

Hashim also bought a oar for P.130 ODD. He also took out a loan for A130 000, at an interest rate of 1846 p.a. compounded moodily. He also made 54 equal payrnen.. However, he started payments one month after the purchase of the em Calculate the total of all Hashim• repayments.

Calculate the difference between Herschel, and Hashim’s total repayments.

RI 930 77 was invested In a fund pap, /46 p a_ compounded monthly. After 18 months the fiord had a value.of RI 711,41. Calculate/. (4)

A father decided to buy &house for his family for R800 000. OR agreed to pay monthly Instals uds of RIO 000 on a loan which messed interest at a rate of 14% pa. compounded monthly The first payment was node at the end of the first month_

  • Show that the loan would be paid off m 239 months_ (4)
  • Suppose the father encountered unenpected mg:lenses and was unable to pay ar% Instahmnts at the end of the 120., 121., 122. and 123. months_ At the end of the 124 month he Increased his payment so as to still pay off the loan m 234 months by III equal monthly paymunts. Calculate the voile of [ha new mstakomt (7)