BNU1501 2019 S2 Ass 4 Solutions.pdf - BNU1501 Tutorial Letter Basic Numeracy BNU1501 Semester 2 of 2019 Department of Decision Sciences Solutions to

BNU1501 2019 S2 Ass 4 Solutions.pdf - BNU1501 Tutorial...

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BNU1501/204/2/2019 1 Tutorial Letter 204/2/2019 Basic Numeracy BNU1501 Semester 2 of 2019 Department of Decision Sciences Solutions to Assignment 04
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BNU1501/204/2/2019 2 BNU1501 2019 Semester 02 Assignment 04 Solutions Q Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 A 1 3 4 2 3 2 2 3 4 1 Question 01 ( ? 1 ; ? 1 ) = (−3; 1) 𝑎?? ( ? 2 ; ? 2 ) = (1 ; − 1) The slope, ? is calculated using the formula ? = ? 2 −? 1 ? 2 − ? 1 = 1 − (−1) −3 − 1 = 2 −4 = − 1 2 Because ? < 0 , then the slope is descending. The correct option is 1 Question 02 Joseph invests R36 000 ( 𝑃 ) for t years at 6% simple interest per annum. The future amount is R55 440. 𝑃 = 36000 S = 55 440 𝑖 = 6% 𝐴 = 𝑃 (1 + 𝑖 n) 55 440= 36 000(1 + 6% × n) Divide both sides by 36 000 1.54 = 1 + 0.06n Subtract 1 on both sides 0.54= 0.06n Divide both side by 0.06 n=9 It will take Joseph’s investment of R36 000 9 years to grow to R55 440 at 6% simple interest. The correct option is 3
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BNU1501/204/2/2019 3 Question 03 This problem has regular (quarterly) payments. It is an annuity. 𝑃?𝑇 = 2 000 ? = 4 𝐼/𝑌 = 18% ? = 10 To answer this question, you need that Financial calculator: 2ndF CA Use Financial keys 2ndF P/Y 4 ENT ON/C ± 2000 PMT 10 2ndF ×P/Y N 18 I/Y COMP PV PV = 36 803.17 Without a financial calculator, use the present value formula. Consider that m = 4. This means that we must
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