BNU1501/Ass 4/S1/2023

BNU1501

Basic Numeracy

Department of Decision Sciences

ASSIGNMENT 04

Semester 1 – 2023

Due Date: 28 April 2023

Please work through the following study material before answering the assignment questions:
Study material: Chapters 6 and 7 of the Study Guide

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Question 1
What is the gradient and the y-intercept for a straight line with the equation 𝑦𝑦 = 6𝑥𝑥 − 5?
[1] Slope = 6, y-intercept = 5
[2] Slope = 6, y-intercept = -5
[3] Slope = 5, y-intercept = -6
[4] Slope = 5, y-intercept = 6

Question 2
A straight line crosses the x-axis at (3, 0) and the y-axis at (0, 2). What is the y-intercept for
this line?
[1] y-intercept = 3
[2] y-intercept = 0
[3] y-intercept = 6
[4] y-intercept: 2

Question 3
Calculate the gradient of a straight line which passes through points (4, 9) and (8, 12).
3
[1]
4
4
[2] −3

4
[3]
3
3
[4] −4

Question 4
The nearest point to the line 3𝑥𝑥 + 4𝑦𝑦 = 25 from the origin is
[1] (-4, 5)
[2] (3, 4)
[3] (3, -4)
[4] (3, 5)

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Question 5

Which of the following straight lines equations is represented by the graph shown above?
[1] 𝑦𝑦 = −2𝑥𝑥 + 4
1
[2] 𝑦𝑦 = 2
𝑥𝑥 − 2
1
[3] 𝑦𝑦 = − 2 𝑥𝑥 + 2

[4] 𝑦𝑦 = 2𝑥𝑥 − 4

Question 6
1
The equation of the line which passes through the point (0, 2) and has a gradient of is
3

[1] 𝑦𝑦 = 3𝑥𝑥
[2] 𝑦𝑦 = 3𝑥𝑥 + 2
1
[3] 𝑦𝑦 = 3
𝑥𝑥
1
[4] 𝑦𝑦 = 3
𝑥𝑥 + 2

Question 7
Consider the equation 2𝑦𝑦 = 4𝑥𝑥 − 2. The graph that is represented by this equation is

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Question 8
If you are calculating the simple interest and you are given the time in months, how can you
find the time in years?
[1] Add 12 to the months.
[2] Multiply 12 times the months.
[3] Multiply the months by 1.
[4] Divide the months by 12.

Question 9
Mrs Zungu borrowed R4,000 for 5 years at 6% simple interest rate. How much interest is
that?

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[1] R800
[2] R1,200
[3] R1,000
[4] R1,500

Question 10
Carine deposits R1 000 into a special bank account which pays a simple interest rate of 7% per
annum for 3 years. How much will be in her account at the end of the investment term?
[1] R210
[2] R2 100
[3] R21 000
[4] R1 210

Question 11
How long must R217 be invested at a rate of 6% to earn R78.12 in interest?
[1] 6 years
[2] 8 years
[3] 4 years
[4] 2 years

Question 12
Compute the compound interest on R16 000 for 2 years 10% per annum when compounded
half yearly.

[1] R18 600

Question 13
At what rate percent per annum will a sum of R2 000 amount to R2 205 in 2 years, compounded
annually?

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[1] 10%
[2] 0,05%
[3] 5%
[4] 15%

Question 14
How much is R1,250 worth at the end of 3 years, if the interest rate of 6.5% is compounded
weekly?
[1] R1,182.26
[2] R1,209.33
[3] R1,333.89
[4] R1, 518.95

Question 15
Thuli decides to start saving money for the future. At the end of each month, she deposits R900
into an account at a Bank, which earns 8,25% interest per annum compounded monthly.
Determine the balance of Thuli’s account after 29 years.
[1] R28 774,75
[2] R1 289 665,06
[3] R1 420 574,15
[4] R159 394,04

Question 16
Andrew takes out a student loan for his first year of BCom. The loan agreement states that the
repayment period is equal to 1,5 years for every year of financial assistance granted and that
the loan is subject to an interest rate of 10,5% p.a. compounded monthly. If Andrew pays a
monthly instalment of R1 446,91, calculate the loan amount.
[1] R24 000,14
[2] R16 415,00
[3] R2 147,17
[4] R1 916,70

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Question 17
Christo wants to buy a small wine farm worth R8 500 000. He plans to sell his current home
for R3 400 000 which he will use as a deposit for the purchase of the farm. He secures a loan
with a bank with a repayment period of 10 years and an interest rate of 9,5% compounded
monthly. Calculate his monthly repayments.
[1] R484 330,48
[2] R532 492,48
[3] R65 992,75
[4] R484 509,93

Question 18
Nelly turns 25 today. An investment her grandfather made in her name on the day of her birth
is now worth R50 000. The investment has accumulated interest at 8% compounded quarterly
since the original deposit. How much did her grandfather originally invest?
[1] R6 901.65
[2] R30 476.54
[3] R22.73
[4] R7 300.90

Question 19
You want to buy an ordinary annuity that will pay you R4,000 a year for the next 20 years.
You expect annual interest rates will be 8 percent over that time period. The maximum price
you would be willing to pay for the annuity is closest to
[1] R32,000
[2] R39,272
[3] R40,000
[4] R80,000

Question 20
A BCom graduate bought a small apartment for R151 000.00with a down payment of R51
000.00. If the graduate secures a mortgage bond with a bank for the balance at 15% per annum,
compounded monthly, with a term of 20 years. What are the monthly payments?
[1] R 671.56
[2] R 1 316.79

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[3] R 1 898.35
[4] R 1 988.35