1: (Value 4 marks) (a) Sue made end of month deposits of $105 into a savings account for twenty years earning 8.25% compounded semi-annually. What was the accumulated value in the savings account just after Sue makes her last deposit? (b) How much interest did Sue earn in her annuity? Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answers: (a) (b) Question 2: (Value 3 marks) Hui Yin paid $200 as a down payment for a Mac computer from Best Buy. She financed the balance owing by making payments of $95 at the end of each month for 2.5 years. If interest was 3.775% compounded quarterly, what was the cash price of the computer? Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 3: (Value 3 marks) A loan of $40,000 is to be repaid by equal quarterly payments for 5 years. What is the size of each quarterly payment if the interest is 5.62% compounded annually? Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 4: (Value 3 marks) Raj placed $25,000 into a savings account at 6.28% compounded quarterly. At the end of every month, Raj withdraws $1,000 from the account. For how many months can Raj make these withdrawals? Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 5: (Value 3 marks) Compute the nominal annual rate of interest compounded semi-annually on a loan of $100,000 repaid in instalments of $9,500 at the end of every three months for 3.5 years. Give answer rounded to two decimal places. Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 6: (Value 6 marks) Diego made end of quarter deposits of $1,650 into a retirement fund at 6.50% compounded monthly for 15 years. After 15 years, the balance in the fund was converted into a retirement income fund from which Diego withdrew $10,000 at the end of every three months at 5.55% compounded semi-annually. How long can Diego make withdrawals from the retirement income fund? (Give your answer in terms of years and months. For example 8 years and 4 months.) Show all inputs and any other necessary work below. This question requires two separate steps. Show all inputs for both steps and any other necessary work. P/Y = C/Y = N = I/Y = PV = PMT = FV = P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 7: (Value 6 marks) Farmer Joe saved for the purchase of a new piece of farm equipment by making deposits of $1200 at the end of each year for seven consecutive years. The savings account earned interest of 6.85% compounded quarterly. At the end of the 7-year contribution period, the total deposit was left for a further five years, earning interest at 5.25% compounded semi-annually. How much was in the account at the end of the 12-year period? Show all inputs and any other necessary work below. This question requires two separate steps. Show all inputs for both steps and any other necessary work. P/Y = C/Y = N = I/Y = PV = PMT = FV = P/Y = C/Y = N = I/Y = PV = PMT = FV = Final Answer: Question 8: (Value 3 marks) Mr. Peabody drove to his bank and deposited $500 at the end of every three months for 15.5 years. What is the accumulated value of Mr. Peabodys annuity at 4.95% compounded semi-annually? Show all inputs and any other necessary work below. P/Y = C/Y = N = I/Y = PV = PMT = FV = Final