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NAME: MAISA M.S

STUDENT NO: 200517476

ASSIGNMENT 3 MILESTONE 3

WORKSHEETS

QUESTION 1

1.1 Give the correct term for each of the following sentences:

1.1.1 Increasing of prices.

1.1.2 Buying on credit.

1.1.3 Borrowing money from a friend or a bank.

1.1.4 It is called the straight line basis method.

1.1.5 An extra amount of money that you repay after loaning

money.

QUESTION 2

2.1 Fill in the missing words:

2.1.1 There are ------------quarters in a year.

2.1.2 A year is made up of ------------months.

2.1.3 When the exchange rates are higher, you pay -------rands.

2.1.4 When the rates are down, the fuel prices ------------.

2.1.5 When the exports rates increase, ----------increases.

QUESTION 3
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3.1 In a five lines paragraph, what advices can you give to

someone who wants to buy a furnisher on a hire purchase
agreement? Motivate your answer.

SUMMARY

Everywhere you go people talk about money. In churches they

talk about offering, at schools they talk about school fees, on
the streets Tsotsis talk about ATM’s bombing because money
talks, without money people won’t even recognise you. People
don’t take people who are penniless seriously in life.

Knowledge

Interest it is the price of using money over time, hence it is a

direct measure for the time value of money. Interest is stated
as a percentage for a time period. Simple interest is calculated
on the original amount borrowed (the Principal).It is better
suited for short term borrowing. Compound interest is similar to
the simple interest, except that interest is earned both on the
fixed Principal and amount and on the interest as it
accumulates.

Periodic I interest rate is a fractional amount of an annual

interest rate. Compounding periods are divided as follows: a
year is made up of twelve months, four quarters, two half
yearly and 365 days excluding the leap years. Learners should
know that when rates decrease, prices of goods decrease too.

SKILLS

Substitution in the formula for calculating the interest rate

(I=Prt).Learners should use substitution method to calculate
the value of the Principal. Add the interest and the initial
amount to find the total amount. Learners should have a skill
on the application of the Compound and the Simple interest.
They should be able to divide r and t with the given
compounding period. They must have good skills on how to use
whatever type of calculator that they are having.

ATTITUDES AND VALUES

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Learners should learn how to handle their finances, and help

their parents when drawing family budget. They should learn to
respect other people’s views on how to spend money. They
should learn that saving money means moving away from
debts. They should know that the little that they are having
means a lot if they understand the principles of saving
accounts and investments. They should know that when they
started working they should learn to buy furnishers in cash not
on Hire-Purchase.
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