QUESTION 9
9.1
A car, bought for R128 000, depreciates annually at a compound rate. After 6 years it
is worth R45 500. At what rate did the value depreciate?
9.2
Keith sold his house for R250 000 and invested the money at 9,5% p.a., compounded
quarterly.
Twelve years later he used the proceeds of the investment to buy another house for
R2 920 000 and obtained a mortgage bond for the remaining amount. The bond was
granted for 20 years at 10,3% interest p.a. compounded monthly.
9.2.1
Calculate the value of Keith's original investment after 12 years.
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