1) What rate of interest j1 must be earned for deposits of $500 at the end of each year to accumulate to $6500 in 10 years?

2) A television set sells for $1400. Sales tax of 7% is added to that. The TV may be purchased for $200 down and monthly payments of $120 for one year. What is the interest rate j12? What is the annual effective interest rate?

3) A store offers to sell a watch for $550 cash or $50 a month for 12 months. What nominal rate j12 is the store actually charging on the instalment plan, if the first payment is made immediately?

4) The "Fly By Night" Used Car Lot uses the following to illustrate its 12% finance plan on a car paid for over 3 years.