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$183.75 Question 6 (5 points) Saved A loan of $6000 today is to be paid by three equal payments due one year from now, 18

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$183.75 Question 6 (5 points) Saved A loan of $6000 today is to be paid by three equal payments due one year from now, 18 months from now, and 21 months from now respectively. Determine the size of the three equal payments if the loan was obtained at a rate of 7.20% compounded quarterly and the agreed focal date is today. Include a well-labelled time diagram as part of your solution. $2,212.21 $2,000.00 $2,144.00 $2.112.21 Question 7 (5 points) $2,112.21 Question 7 (5 points) A four-year $6500 (PV) promissory note, bearing interest at 6.2% compounded monthly, was discounted (Sold) 21 months before maturity to yield 8.1% compounded semiannually. What were the proceeds from the sale of the note? Include a well-labelled time diagram as part of your solution. $6,903.68 $7,244.26 $7,330.99 $7,560.25 Question 8 (3 points) Question 9 (2 points) A Bank offers a rate of 4.25% compounded semi-annually on its five year GIC. The bank wants to set the rate on its five year GIC compounding monthly so that investors will receive the same equivalent interest at maturity. What is the effective rate offered by the GIC? 4.25% 0.45% 4.30% O 0.35% Question 10 (5 points A bond with a face value of $10,000 (FV) was purchased for $4,576.60 (PV). At that price the bond provided the investor with a return of 4.78% compounded semi-annually. How long before the maturity date was the bond purchased? Express answer to the nearest day. 17 years, 3 months and 22 days. 16 years, 6 months and 17 days. 16 years, 6 months and 22 days 16 years, 7 months and 17 days Question 11 (5 points) A $3,500 promissory note (purchase price) bearing interest of 7% compounded semi-annually was sold 18 months before maturity for $3.927.10. What monthly compounded nominal rate of inte pricing the note? A bond with a face value of $10,000 (FV) was purchased for $4,576.60 (PV). At that price the bond provided the investor with a return of 4.78% compounded semi-annually. How long before the maturity date was the bond purchased? Express answer to the nearest day. 17 years, 3 months and 22 days 16 years, 6 months and 17 days 16 years, 6 months and 22 days 16 years, 7 months and 17 days

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