1. Calculate the future value of an ordinary annuity with BD 2500 monthly payments at 5% annual interest for 4380 days.

2. How long will it take BD 2200 to accumulate to BD 5000 if the simple interest is at 7% interest rate?

3. At what rate compounded quarterly will BD 1000 become BD 7000 for 12 years.

4. Find the interest and final amount on BD 750 at 2% simple interest for 4680 days.

5. Mona wants to have BD 22000 in her account by the end of 15 years and 8 months. How much interest should she pay today in the bank paying 5% semi-annually?

6. Find the FV of an ordinary annuity with BD 130 annually payments at 2% annual interest for 252 months.

Rubrics:

5 Mark

Choosing the correct formula, Clear and Correct steps and final answer

4 Mark

Clear and Correct steps with wrong final answer

3 Mark

Choosing the correct formula with Clear steps

2 Mark

Choosing the correct formula with incomplete steps

1 Mark

Choosing the correct formula or Correct final answer

0 Mark

Wrong choosing of formula, wrong steps

PART III. ANALYSIS AND PROBLEM SOLVING. (10 Marks)

Direction: Solve the following questions by showing all the required steps (1x10=10 Marks)

1. On March 17 2021, Naser joined a football club. His bank will automatically deduct BD 120 from his checking account at the end of each month, and deposit it into his football account, where it will earn 2% annual interest. The account comes to term on November 30 2022. Analysis the following:

a. Future value of Nasers football club account. ( 4 Marks )

b. Nasers total contribution to the account. (3 Marks)

c. Total interest earned on the account. (3 Marks)

Rubrics:

10-9 Mark

Correct formula,Clear and Correct steps in finding the future value, total contribution and interest

8-7 Mark

Correct formula, Correct steps in finding the future value, total contribution and interest with wrong final answers

6-5 Mark

Correct formula, Not Clear steps with right answer

4-3 Mark

Not clear steps with right answer

2-1 Mark

Not Clear and Correct steps in finding the future value, total contribution and interest

0 Mark

Wrong steps and wrong answer