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business
multinational business finance

Questions and Answers of Multinational Business Finance

Ronny had a balance of $2000 in his RRSP. In addition to this, he invested $1000 at the end of every six months for 5 years and 6 months. If his RRSP earned 4% compounded semi-annually for the first
A loan of $20,000 was settled in four years with payments of $2000 made at the end of every three months. Calculate the nominal interest rate compounded monthly.AppendixLO1
Month-end contributions of $150 were made to an RESP fund for ten years. If the accumulated value of the fund at the end of the last contribution was $25,000, calculate the effective interest rate at
Arooj and Meena planned to save $25,000 to purchase a machine for their bakery. They achieved this target by depositing $2000 at the end of every month into an investment fund for one year. What was
Shortboard Inc. is investing in a new manufacturing process which will cost $220,000. To accumulate this amount, $26,500 is deposited at the end of every three months for two years in an investment
The interest rate charged on a $30,000 student loan is 5.4% compounded daily. How long (in years and months) will it take to repay the loan if payments of $500 are made at the end of every
A $325,000 loan is to be repaid by monthly payments of $1750. If the interest rate on the loan is 4.5% compounded semi-annually, what is the term of the loan (in years and months)?AppendixLO1
Karina is charged an interest rate of 6% compounded monthly for her $25,000 student loan. How long (in years and months) will it take her to settle the debt if she makes end-of-month payments of
Bilal has a $55,000 loan that has an interest rate of 12% compounded quarterly. How long (in years and months) will it take him to clear the loan if he makes end-of-quarter payments of $10,000
Rosy wanted to have savings of $100,000 in ten years, so she made equal deposits at the end of every six months into a savings account at 5% compounded semi- annually. If the interest rate offered
Rishana's bank offers her an interest rate of 7% compounded monthly on her investments. How much more money would she have to deposit at the end of every month for her fund to accumulate to $30,000
Melia received a $30,000 loan at an interest rate of 9.5% compounded monthly to renovate her basement. What is the size of the month-end payment required to clear the loan in six years?AppendixLO1
Marblestone, a retail appliance store, sold a $1600 refrigerator with a three-year financing plan at an interest rate of 5.5% compounded monthly. If a customer made a down payment of $350, what
Juan wants to accumulate $25,000 in eight years by making equal deposits into an investment fund at the end of every six months. What is the size of each deposit if the fund earns 5% compounded
How much did Alexis deposit every month into her savings account if she has $15,000 after 24 month-end deposits? The money in her account was growing at 4.8% compounded monthly.AppendixLO1
Crystal purchased a scooter for her grandmother by making payments of $70 at the beginning of every three months for four years. If the cost of borrowing is 8% compounded semi-annually, what is the
Igor wants to set up a fund for his son's education so that he would be able to withdraw $2000 at the beginning of every three months for the next five years. If the fund earns 3.6% compounded daily,
Zane leased a vehicle by making a down payment of $1000 and lease payments of $500 at the beginning of each month for three years. The residual value is $10,000 and cost of borrowing is 5.5%
A car was leased with a down payment of $4000 and monthly lease payments of $360 payable at the beginning of each month for five years. If the interest rate is 5% compounded annually and the residual
For the past ten years, Anton has been depositing $1000 into an RRSP at the beginning of each year. The interest rate for the first four years was 6% compounded annually and 6.5% compounded annually
Since the birth of her daughters 16 years ago, Solange has deposited $50 at the beginning of every month into an RESP. The interest rate on the plan was 4.8% compounded monthly for the first eight
Nigel purchased a property by making a down payment of $50,000 and month-end payments of $1500 for 15 years. What was the value of the property if money is worth 6% compounded
Lina wants to receive $5000 at the end of every six months for the next seven years. How much money should she invest now at 3.75% compounded monthly?AppendixLO1
Deposits of $1500 are made to an investment fund at the end of each month for eight years. What will be the accumulated value of the fund if the interest earned is 6% compounded annually for the
Zoe started investing $700 at the end of every month into an RRSP that has an interest rate of 4% compounded semi-annually. Three years later, the interest rate on her RRSP increased to 5% compounded
Evelyn saved $1000 at the end of every six months for five years in a savings account that earned 4% compounded semi-annually. At the end of the five years, she left her money to earn 6% compounded
Suman invested $5540 at the end of every three months in an investment that was earning 9.00 % compounded quarterly. He stopped making regular deposits at the end of five years when the interest rate
What single payment now is equivalent to month-end payments of $1000 for ten years? Assume money earns 9% compounded monthly.AppendixLO1
Calculate the amount of a loan that can be settled by payments of $750 at the end of every three months for three years if money earns 6% compounded quarterly.AppendixLO1
How much interest would be earned if $800 is invested at the end of every six months for five years at 6% compounded semi-annually?AppendixLO1
Naseem contributed $1250 at the end of every six months for fifteen years to an RRSP fund earning 5% compounded semi-annually. Calculate the amount of interest earned over this period.AppendixLO1
An electronic store sells a laptop for $660 plus 13% HST. They also offer a 12-installment payment plan with $100 down and $65.58 per month. Calculate the nominal rate compounded monthly charged for
A store offers to sell a tablet for one payment of $480 or $50 a month for a year. What effective rate is being charged by the store on the installment plan if the first payment is made when the
You wish to buy a used car priced at $27,000. The car dealer's offer is for you to pay $825 at the beginning of each month for the next three years. At the same time, a bank offers you a loan of
For the purchase of $7500 worth of home appliances, a store's offer is for you to pay $1000 at the beginning of every three months for two years. A financial institution offers you a loan of $7500
A company has the following two options to purchase a machine: Option A: Pay $33,500. Option B: Lease for seven years with a down payment of $1000, payments of $1400 at the beginning of every three
To purchase a car, Sakura was provided the following two options: Option A: Pay $27,500. Option B: Lease for five years with a down payment of $2000, payments of $335 at the beginning of every month,
Cameron's parents deposited $400 at the beginning of every three months into his RESP account. The accumulated value of the account at the end of six years is $11,000. Calculate the effective rate of
Determine the effective interest rate at which an investment of $1100 at the beginning of every three months will accumulate to $20,000 in four years.AppendixLO1
Month-end payments of $1550 are required to settle a loan of $142,000 in ten years. What is the effective rate of interest?AppendixLO1
A principal of $80,000 generates income of $4000 at the end of every six months for fifteen years. What is the effective rate of interest?AppendixLO1
Fariyal's goal is to have $75,000 in 15 years for her university education. She sets up an investment fund and contributes $75 at the end of every week for the time period. What effective interest
Sabrina wishes to accumulate $35,000 in a savings account at the end of ten years. She plans to deposit $100 at the end of every two weeks. What effective interest rate must the savings account pay
Nailah's retirement fund grew to $40,000 following $200 payments at the end of every three months for 20 years.a. What nominal interest rate compounded quarterly was she earning? (Assume that the
A construction company makes deposits of $5000 at the end of every month into an investment fund which will accumulate to $1.5 million in 15 years.a. At what nominal interest rate compounded monthly
Raga Steel Corporation leased a furnace for $80,000 for ten years. Calculate the nominal interest rate compounded semi- annually if $1000 was paid at the beginning of every month and the residual
Sahar's lease contract had a value of $18,000 and he made lease payments of $300 at the beginning of every month. What is the nominal interest rate compounded quarterly if the lease was for 5 years
At the end of 25 years, Christopher wishes to have accumulated $500,000 in his RRSP fund. He plans to accumulate this amount by making monthly deposits of $750 into the fund. All deposits will be
Deposits of $200 were made to an investment at the beginning of every three months for a period of ten years. If the accumulated value of the investment was $10,000, what nominal interest rate
A five-year lease requires payments of $750 at the beginning of every month. Calculate the nominal interest rate compounded monthly if the value of the lease contract is $40,750.AppendixLO1
A lease agreement requires that the lease holder pays $2800 at the beginning of every quarter for three years. If the value of the lease contract is $31,000, what is the nominal interest rate
An amount of $150,000 is invested in an annuity that pays $6000 at the end of every six months for twenty years. What is the nominal interest rate compounded semi-annually that is required to support
You have $70,000 in a savings account and you plan to withdraw $2250 at the end of every three months from this account for ten years. What is the nominal interest rate compounded quarterly that is
What is the nominal interest rate compounded annually that you will earn on an annuity that requires a deposit of $75,000 today and promises to pay $10,000 at the end of every year for the next ten
You have the opportunity to make an investment of $100,000 today and receive $1250 at the end of every month for the next ten years. Calculate the nominal interest rate compounded monthly on this
You invested $10,000 at the end of each year for five years in an investment fund. At the end of the fifth year, if the balance in the fund was $55,000, what was the nominal interest rate compounded
Oliver deposits $300 in his savings account at the end of every month for 3 years and 6 months. What is the nominal interest rate compounded monthly if the accumulated amount at the end of the period
Anita took a car loan of $45,000 loan at 4.2% compounded semi-annually. The monthly payments were calculated to pay off the loan in 5 years. If Anita increases the payment by 5% after one year, how
Manish has a $25,000 loan at 4.95% compounded annually. The monthly payments were calculated to pay off the loan in 10 years. If Matthew increases the payment by 10% after two years, how much sooner
A credit card company charges an effective interest rate of 18%. If Claude's current balance is $5000 and she makes the minimum payment of $150 at the beginning of each month, calculate the number of
A credit card charges an effective rate of 19% for Joanne's credit card bill of $7500. Joanne decides to stop using her card and make the minimum payment of $175 at the beginning of each month. How
Elijah had $75,000 in an investment fund that was growing at 6.1% compounded semi-annually. He plans to withdraw $2500 from this fund at the beginning of every six months.a. After how many
Lara has an investment account of $150,000 that is earning 4.25% compounded monthly. She wants to withdraw $5000 at the beginning of every month from this fund.a. After how many withdrawals will the
Julie's RRSP savings of $250,000 is converted to an RRIF at 3.86% compounded monthly. It pays her $1750 at the beginning of every month. How many payments will it take to deplete the fund?AppendixLO1
A company withdraws $36,000 at the beginning of every six months from a $400,000 fund that is growing at 2.25% compounded semi-annually. After how many withdrawals will the fund be
Liam has $30,000 in his RRSP account and wants this to accumulate to $250,000. The account is earning 6.1% compounded semi-annually and he plans to deposit $2500 at the beginning of every six months
Dao-ming has $5000 in his savings account and wants this to accumulate to $25,000 for a condominium down payment. He plans to deposit $2000 at the beginning of every three months into the account. If
Lush Gardens Co. bought a new truck for $45,000. It paid 10% of this amount as a down payment and financed the balance at 5.75% compounded semi-annually. If the company makes payments of $1500 at the
Clara purchased a machine for $14,000. She paid 15% of the purchase price as a down payment and financed the balance at 4.25% compounded daily. If she paid $500 at the end of every month, how long
Longcore Technologies has to settle a business loan of $80,000, which has an interest rate of 12% compounded semi- annually. The settlement will consist of semi-annual payments of $20,000 (with the
Anaya purchased a $100,000 annuity that is earning 8% compounded annually. It will provide her with payments of $15,000 at the end of every year. How many payments will she receive from this
Samantha made regular, equal deposits into a savings account at the end of every month for three years. Her investments were earning 5% compounded quarterly and grew to $12,800 at the end of three
Mario made regular, equal deposits into an RRSP at the end of every month for two years. His investments were earning 4.75% compounded daily and grew to $18,435 at the end of two years. Calculate the
Mai has been depositing $2000 into an RESP at the end of every three months to save for her daughter's education. If the RESP earns 6% compounded monthly, how long will it take for the investment to
Udo deposits $1000 at the end of every month into an RRSP. If the RRSP is earning 5% compounded daily, how long will it take for his investment to accumulate to $40,000?AppendixLO1
You plan to save money for a down payment of $50,000 to purchase an apartment. You can only afford to save $1000 at the end of every month in an account that has an interest rate of 2.29% compounded
Simran's goal is to save $24,000 in an investment fund that is growing at 5.15% compounded monthly. How long will it take to reach her goal if she deposits $1020 at the end of every three months into
Payments of $10,000 are made at the end of each year into a fund that is earning 4.5% compounded annually. How long will it take to accumulate $92,000 in this fund?AppendixLO1
Bridgette has been depositing $400 at the end of every month into a savings account with a goal of accumulating $25,000. If her account earns 4% compounded monthly, how many deposits will she have to
Nabil deposits $3000 at the end of every month into a savings account at 4.75% compounded monthly. How long will it take for the savings to grow to $49,200?AppendixLO1
Lucy deposited $900 at the end of every month into her RRSP account that had an interest rate of 3.35% compounded monthly. How long will it take for the balance on the account to grow to
Dominic wants to save equal amounts at the beginning of every six months for the next five years so that he can retire eight years from now. Upon retirement, he will withdraw $25,000 at the end of
A father wants to save equal amounts at the beginning of every month for the next 6 years so that his son will be able to withdraw $1500 per month for 4 years for his university education. If the
Lillian is leasing a new car worth $36,000. She will receive $4500 to use as a down payment for trading in her old car, and her lease is for five years at 3% compounded monthly. The residual value is
Wang leased a vehicle worth $27,500 by paying $5000 as a down payment and making lease payments for four years at 6.75% compounded monthly. The residual value is $12,000.a. What is the size of the
The value of a lease contract is $5000. It requires eight equal lease payments to be made at the beginning of every three months. If the cost of borrowing is 2.8% compounded daily, what is the size
Pascal, an insurance salesman, offers an insurance policy that provides a benefit of $45,000 five years from now. Alternatively, he offers 60 equal payments that can be received at the beginning of
Brooke plans to accumulate $150,000 in ten years by making deposits at the beginning of every three months into a fund. If the fund is earning 6% compounded semi-annually, what will be the size of
Carlos accumulated $85,000 in seven years by making regular deposits at the beginning of every month into a fund. If the fund was earning 3.75% compounded quarterly, what was the size of each
Idris has a retirement fund of $500,000. If the fund is earning 3.75% compounded monthly, how much can he withdraw at the beginning of each month for the next 20 years?AppendixLO1
Zachary accumulated $250,000 in his RRSP and decided to convert it to an RRIF that will earn 5% compounded monthly. What payment can he receive at the beginning of each month for the next 20
A car worth $26,000 is being leased with a down payment of $1500 and equal payments at the beginning of every two weeks for five years. If the residual value is $11,500 and the interest rate is 5.4%
Bisa is leasing a vehicle worth $20,000, with a down payment of $1000 and equal payments at the beginning of every two weeks for three years. What is the size of each lease payment if the cost of
A loan of $200,000 is to be repaid by payments at the end of every 3 months over a period of 25 years. If the effective interest rate on the loan is 5%, what is the size of the payment due at the end
A company has borrowed $50,000 from a bank at an effective rate of interest of 7%. Calculate the size of the payment at the end of every six months that will settle the loan in five years.AppendixLO1
An RESP account earns 4.38% compounded daily. How much must be contributed at the end of each month in order to accumulate $250,000 in 18 years?AppendixLO1
The interest rate for a five year RRSP is 4.7% compounded monthly. How much must Sunny deposit at the end of every six months in order to accumulate $60,000?AppendixLO1
You deposited $75,000 into an account paying 3.75% compounded semi-annually so that it will pay you equal payments at the end of every six months over the next four years. What is the size of the
What periodic payment at the end of each month will settle a student loan of $45,000 in seven years? Assume that the interest rate of the loan is 6.75% compounded monthly.AppendixLO1
Quincy made equal deposits at the end of every month for five years into an investment fund. He then left the money in the fund to grow for another four years. If the fund earned 4% compounded

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