1. A company loaned $5,000 to one of its partners for 5 years. The interest rate for the first 3 years was 2% compounded quarterly and for the next 2 years it was 2.3% compounded semi-annually. How much should the partner have repaid the company at the end of the five years? 2. An investment banker invested $250,000 in a growth fund that earned 12.5% compounded quarterly. After 2 years, the fund did poorly and the earnings dropped down to 6.19% compounded annually. The banker withdrew all the money six months later. How much money had accumulated at the time of the withdrawal? 3. What single payment in 9 months would be equivalent to a payment of $900 due today and a payment of $1,200 due in 27 months if the interest rate is 4.2% compounded monthly? 4. You had an agreement to pay $4,075 in 2 years from now and $6,725 in 5 years from now. What single payment would pay off this debt in one year from now if money earns 7.1% compounded quarterly? 5. Payments on a debt were originally scheduled as follows: $500 in 9 months from today, $600 in 15 months from today, and $800 in 21 months from today. What is the equivalent payment 15 months from today if interest is 5.3% compounded quarterly? 6. Asia had an agreement to pay Sarbjit payments of $2,500 in 1 year from now and $3,000 in 30 months from now. How much should Asia pay Sarbjit 2 years from now in order to clear the debt? Assume interest is 4% compounded quarterly. 7. What semi-annually compounded rate of interest is equivalent to 6% compounded monthly? 8. How many years will it take for $5,000, invested at 6% compounded monthly, to grow to $15,000? 9. In how many years will money quadruple at 8% compounded quarterly? 10. A loan of $2,500 was repaid together with interest of $780. If interest was 7.1% compounded quarterly, for how many years and months was the money invested? 11. What monthly compounded rate is equivalent to 5.75% compounded semi-annually? 12. What is the effective rate corresponding to 7.2% compounded quarterly? 13. What is the semi-annually compounded rate that is the same as an effective rate of 18.5%? 14. Which interest rate would you prefer to receive on a 3-year GIC: 6% compounded monthly, 6.1% compounded quarterly, or 6.2% compounded semi-annually? 15. A department store credit card quotes a rate of 1.82% per month on any unpaid balances. What is the effective rate of interest being charged?