1. Ellora wants to accumulate $150,000.00 in an RRSP by making annual contributions of $5000.00 at the beginning of each year. If interest is 5.5% compounded quarterly, calculate how long she has to make contributions

2. What sum of money must be deposited in a trust fund to provide a scholarship of S1520.00, payable at the beginning of each 3 months, if interest is 6.72% compounded quarterly?

3. Triad is considering a medical process that is expected to reduce annual costs by $ 43,000.00. What is the maximum amount of money that could be invested in the process to be economically feasible interest is 7.44% compounded quarterly?

4. A debt of $ 10000.00 with interest at 8% compounded quarterly is to be repaid by equal payments at the end of every three months for two years.

a) Calculate the size of the quarterly payments.

b) Calculate the outstanding balance after three payments.