- Reitumetse starts work and at the end of each month she deposits R500 into a savings account. Calculate how much money she will have accumulated at the end of six years if the interest on the savings is 8% p.a. compounded monthly.
- Jenna invests R20 000 into a savings account. The interest paid on money in the account is 15% p.a. compounded monthly. Calculate how long (in years and months) it will take for the savings to reach R100 000
- A farmer buys a combine harvester at a cost of R1,3 million. The depreciation on the harvester is calculated at 12% p.a on a reducing balance. Calculate the book value of the harvester at the end of eight years.
- On the 2nd of January 2015 a company bought a new printer for R150 000.The value of the printer decreases 20% annually on the reducing-balance method.When the book value of the printer is R49 152, the company will replace the printer.
- Diane invests a lump sum of R5 000 in a savings account for exactly 2 years. The investment earns interest at 10% p.a., compounded quartely.