B | NOVEMBER 2022 GRADE 12 MATHEMATICS P1 - Financial Mathematics : Question 6 | PAPER 1

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GRADE 12
Mathematics ( P1 )
NOVEMBER 2022

NOVEMBER 2022

QUESTION 6
6.1 R12 000 was invested in a fund that paid interest at m% p.a., compounded quarterly. After
24 months, the value of the investment was R13 459.
Determine the value of m. (4)
6.2 On 31 January 2022, Tino deposited R1 000 in an account that paid interest at 7,5% p.a.,
compounded monthly. He continued depositing R1 000 on the last day of every month. He
will make the last deposit on 31 December 2022.
Will Tino have sufficient funds in the account on 1 January 2023 to buy a computer that
costs R13 000? Justify your answer by means of an appropriate calculation. (4)
6.3 Thabo plans to buy a car that costs R250 000. He will pay a deposit of 15% and take out a
loan for the balance. The interest on the loan is 13% p.a., compounded monthly.
6.3.1 Calculate the value of the loan. (1)
6.3.2 The first repayment will be made 6 months after the loan has been granted.
The loan will be repaid over a period of 6 years after it has been granted.
Calculate the MONTHLY instalment. (5)
[14]

[diamondmokoteli]

That was very helpful thank you so much sir🌼