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Question 4

Harris invested R9 800,00 in two accounts, some at 10% simple interest per annum and the rest at 7% simple

interest per annum. His total interest for one year was R854,00. Choose the correct statement. He invested

[1] R4 200,00 at 7% simple interest per annum.

[2] R8 946,00 at 7% simple interest per annum.

[3] R8 820,00 at 7% simple interest per annum.

[4] R9 114,00 at 10% simple interest per annum.


Question 5

Erick takes a R23 000,00 discount loan at the Community Bank for a student loan. The discount rate is

12,75% and the term of the loan is 18 months. What is the amount or present value that he receives from the bank?

Step-by-step answer

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Subject: Business, Finance

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