Thabo wants to buy wireless Bluetooth earphones which costs R700. He is impatient and does not want to wait and save the money to buy himself the earphones. He applies for a bank loan. The bank approves the loan and gives Thabo four (4) years to amortise the loan. The bank charges an interest rate of 6% compounded yearly for the loan. Find the yearly instalment that Thabo has to pay to the bank.

Frank needs to pay R60 000,00 towards his son’s university fees in three years’ time. If he has R45 150,30 now, at what interest rate per year compounded monthly, must he invest his money? 

Gloria bought a house for R1 800 000. She managed to secure a loan at an interest rate of 7,5% per year, compounded every four months, for a period of 30 years. If the periodic payments are R55 468,56. Determine the outstanding balance at the end of 20 years.

Kgomotso bought a townhouse for R1 285 000. She managed to secure a loan at an interest rate of 11,35% per year, compounded every six months, for a period of 20 years. Determine the period payments Kgomotso must make. 

Suppose John deposited an amount of R600 at the end of every month into an account earning 6% interest per year, compounded monthly over a period of 3 years. Determine the accumulated amount John will receive at the end 3 years. 

Before the pay-out period begins, the annuity is in the _____. 

Calculate the accumulated amount after 3 years, if R6 000 is invested at an interest rate of 10%  compounded quarterly? 

Suppose you invest R14 000 at a simple interest rate of 12% per year. What would be the value of the accumulated amount after 6 years.

How much simple interest is payable on a loan of R35 000, borrowed for a period of 22 months at a simple interest rate of 10% per year? 

An amount of R27 000 is invested in a fund that pays 11,15% simple interest per year. The total amount in this fund after 129 months will equal _________.