1- An installment contract for the purchase of a car requires payments of $217.46 at the end of each month for 3 years. Interest is 5% per annum compounded monthly.

(a) What is the amount financed?

(b) How much is the interest cost?

2- For the last 5 years Adam has made deposits of $148.00 at the end of every three months earning interest at 4% compounded quarterly. If he leaves the accumulated balance for another 8 years at 5% compounded annually, what will the balance be in the account?

3- Reese contributed $90.00 every three months into an RRSP for 5 years. What nominal annual rate of interest will the RRSP earn if the balance in Reese's account just after she made her last contribution was $2.200.00?