1 What is the monthly interest rate equivalent to the 6% semi-annual rate?

a. 0.49%

b. 0.97%

c. 1.03%

d. 11.6%

 2 The sums of money left in the mutual fund grow in the internal rate of return. a. True b. False 3 What annual interest rate will $ 5,000 be in 7 years if we deposit $ 2,300 today ? a. 10.5% b. 15% c. 11.73% d. 13.8% 4 You deposit $ 2,000 into a savings account at an interest rate of 8%. What will be the balance of your account at the end of the 3rd year if the interest is simple? a. 2000 $ b. $ 2519 c. $ 2480 d. $ 2160 5 The majority of Canadian mortgages are capitalized quarterly. a. True b. False