Practice — what type is this question? (Finance Growth Decay)

6.1 Two friends, Kuda and Thabo, each want to invest R5 000 for four years. Kuda invests his money in an account that pays simple interest at 8,3% per annum. At the end of four years, he will receive a bonus of exactly 4% of the accumulated amount. Thabo invests his money in an account that pays interest at 8,1% p.a., compounded monthly. Whose investment will yield a better return at the end of four years? Justify your answer with appropriate calculations.

Source: DBE Mathematics Paper 1, November 2019, Question 6.1

Selby wants to save money by making quarterly deposits of R15 000 into a savings account. The account pays interest at a rate of 8,8% per annum, compounded quarterly. He starts making deposits at the end of the first quarter and makes his last deposit at the end of the 16th quarter. 7.1.1 Calculate the total amount in the savings account at the end of the 16th quarter.

Source: DBE Mathematics Paper 1, November 2018, Question 7.1.1

6.2 Nine years ago, a bank granted Mandy a home loan of R525 000. This loan was to be repaid over 20 years at an interest rate of 10% p.a., compounded monthly. Mandy's monthly repayments commenced exactly one month after the loan was granted. 6.2.1 Mandy decided to make monthly repayments of R6 000 instead of the required R5 066,36. How many payments will she make to settle the loan?

Source: DBE Mathematics Paper 1, November 2019, Question 6.2.1