1- Jasmine invested $15,000.00 for 5 years at 5.00% compounded quarterly. Calculate the future value of his investment at the end of the term.

2- Rachel was supposed to pay Michael $4,000 6 months ago and $1,440 in 5 months. If she wants to repay this amount with two equivalent payments of $3,900 today and the balance amount in 3 months, calculate the balance amount. Assume interest is 3.60% p.a. and the agreed focal date is 3 months from now.

3- Michael invested her savings into a Registered Retirement Savings Plan (RRSP) at an interest rate of 3.75% compounded semi-annually. After one year, her investment grew to $24,600; however, the interest rate on the RRSP changed to 4.00% compounded quarterly and remained constant for the next two years.

a- Calculate the original amount she invested into the RRSP.

b- Calculate the accumulated value of the investment at the end of three years (two years after the rate drop).