Introduction
Greetings Grade 11, todays lesson is Financial mathematics. Please watch the video below.
Task
For this activity please read the instruction below and answer the following questions.
- write neatly in your work book
- use calculator (show all calculations)
- submit before 28 August 2021
Name:...
Grade: 11
Due Date: 28 August 2021
Compound and simple interest
Question1
1. Mr November wants to buy a television on a hire purchase agreement. The cash price is of the television R5600. He is required to pay a deposit of 15% and pay the remaining loan amount off over 24 months at an interest rate of 14% p.a.
1.1 Calculate the total amount that Mr November is going to pay at the end of 24 months. (4)
1.2 Calculate the amount of deposit that he is going to pay upfront. (2)
Question 2
2. An amount of R3500 is invested in a savings account which pays a compound interest rate of 7,5% p.a
2.1 calculate the balance accumulated by the end of 2 years. (4)
2.2 what is going to be a yearly interest on the investment.(2)
Total = 12
Process
For better understand please go watch the videos below.
1. What is financial mathematics?
2. types of interest
3. Written notes:
Evaluation
A mark will be awarded for every step done correctly.
| Marks | |
| Question 1 |
6
|
| Question 2 |
6
|
Total = 12
Conclusion
For the next lesson please go through your Inflation notes, and watch the video below.
Credits
a word of gratitude to the links below for making this lesson a success
https://www.youtube.com/watch?v=NQfw-3_Ol60
https://www.youtube.com/watch?v=5lUgITdBF2M
Teacher Page
If you find difficulties please contact Mr Mtiya