# Grade 12- Financial Mathematics Online Test

1. How long will it take factory equipment with a new purchase price of R850 000 to depreciate to R411 296 at 15%p.a.?

2. How many years will it take an investment of R250 000 invested at 9.5% p.a.

compounded monthly, to grow to R285 473?

3. Each month Peter invests R600 at 12% p.a. compounded monthly. Calculate the

value of the investment after 8 years (i.e. the future value of the annuity).

4. Each month Peter invests R600 at 12% p.a. compounded monthly. Calculate the

value of the investment after 8 years by creating a geometric series, and the finding

its sum.

1. Peter wants to buy a house. He can afford a monthly instalment of R6000.

Calculate the amount he can borrow, repayable over 20 years at an interest rate

of 15% p.a.. Compounded monthly. (Repayment of a loan).

6. Jack wants to buy a flat. He must take out a mortgage bond of R521 364,83,

repayable over 20 years at 15% p.a. compounded monthly. How much will his

monthly instalment be?

7. When he retires, uncle Steven wants an amount available from which a monthly

payment of R6000 can be made to him for 14 years. The amount will earn 12%

interest, compounded monthly. Calculate this amount.

8. A home loan of R825 000 is secured at 13,5% p.a. compounded monthly, repayable over 25 years.

8.1 Calculate the monthly instalment.

8.2 Calculate the balance (amount outstanding) after 10 years

9. Ryan Enterprises write off their equipment over a five year period. They recently

bought a new vehicle which needs to be replaced after five years at a cost of

R400 000. How much must be invested quarterly in a sinking fund of which the

interest rate is 10% p.a. compounded quarterly?

Description:

Financial Mathematics questions about:
1. Calculating the period (n) for the increase and decrease.
2. Annuities
3. Present Value Annuities
4. Balance on loans
5. Sinking Funds

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