Everything Maths Grade 10

9 Finance and growth 9.1 Introduction EMA6K In this chapter, we apply mathematical skills to everyday financial situations. If y ...

With an opening balance of R 1000 at the start of the year, the closing balance at the end of the year will therefore be: Closin ...

Step 2: Write down the formula A=P(1 +in) Step 3: Substitute the values A= 1000 (1 +0,073) = 1210 Step 4: Write the final answe ...

We can use the simple interest formula to find pieces of missing information. For example, if we have an amount of money that we ...

SOLUTION Step 1: Write down the known variables A= 4000 P= 2500 n= 5 Step 2: Write down the formula A=P(1 +in) Step 3: Substitut ...

7.Sally wanted to calculate the number of years she needed to invest R 1000 for in order to accumulate R 2500. She has been offe ...

The amountA 1 becomes the new principal amount for calculating the accumulated amount at the end of the second year. A 2 =P(1 +i ...

Worked example 5: Compound interest QUESTION Mpho wants to invest R 30 000 into an account that offers a compound interest rate ...

Step 2: Write down the formula A=P(1 +i)n Step 3: Substitute the values and solve fori 10 000= 5000 (1 +i)^2 10 000 5000 = (1 +i ...

1 2 3 4 5 6 7 8 9 10 2 ; 000 4 ; 000 6 ; 000 8 ; 000 10 ; 000 12 ; 000 14 ; 000 16 ; 000 18 ; 000 20 ; 000 22 ; 000 24 ; 000 Yea ...

3.An amount of R 6970 is invested in a savings account which pays a compound interest rate of 10,2% p.a. Calculate the balance a ...

VISIT: This video explains hire purchase and shows some examples of hire purchase calculations. See video:2GHFatwww.everythingma ...

NOTE: The monthly payment is also called the monthly instalment. Worked example 8: Hire purchase with extra conditions QUESTION ...

Exercise 9 – 3: 1.Angelique wants to buy a microwave on a hire purchase agreement. The cash price of the microwave is R 4400. Sh ...

If both stores offer 7,5% interest, which store should you purchase the fridge and washing machine from if you want to pay the l ...

Worked example 10: Calculating past cost based on inflation QUESTION A box of chocolates costs R 55 today. How much did it cost ...

7.The price of popcorn and a cooldrink at the movies is now R 60. If the average rate of inflation is 9,2% p.a. what was the pri ...

Exercise 9 – 5: 1.The current population of Durban is 3 879 090 and the average rate of population growth in South Africa is 1,1 ...

SOLUTION Step 1: Write down the equation Let the equivalent amount in euros bex x= 10 000 10,68 =936,33 Step 2: Write the final ...

7.Lulamile and Jacob give tours over the weekends. They do not charge for these tours but instead accept tips from the group. Th ...