1.How much did Raymond deposit every month in his savings account if he had $13,000 after 33 month-end deposits? The money in his savings account was growing at 2.28% compounded monthly.

2.What should be the amount in an RRSP that is earning 5.50% compounded quarterly if it can be converted to an RRIF that will provide $250 at the beginning of each month for 6 years?

3.Paige wants to accumulate at least $55,000 by depositing $1,400 at the end of every month into a fund that earns interest at 5.50% compounded monthly. a. How many deposits does he need to make to reach his goal? b. How long will it take Paige to reach his goal?

4.You plan to save money for a down payment of $37,000 to purchase an apartment. You can only afford to save $1,250 at the end of every quarter into an account that earns interest at 4.69% compounded annually. How long will it take you to save the planned amount?in years and months

5 You invested $8,000 at the end of each quarter for 6 years in an investment fund. At the end of year 6, if the balance in the fund was $202,000, what was the nominal interest rate compounded quarterly?

6.Kimberly leased equipment worth $45,000 for 8 years. If the cost of borrowing is 8.68% compounded semi-annually, calculate the size of the lease payment that is required to be made at the beginning of each half-year.

7.Quarter-end payments of $1,400 are made to settle a loan of $28,900 in 8 years. What is the effective interest rate?

8.A contract requires lease payments of $700 at the beginning of every month for 8 years. a. What is the present value of the contract if the lease rate is 4.68% compounded annually? b. What is the present value of the contract if the lease rate is 4.68% compounded daily?

9.Lush Gardens Co. bought a new truck for $54,000. It paid $6,480 of this amount as a down payment and financed the balance at 4.22% compounded semi-annually. If the company makes payments of $1,500 at the end of every month, how long will it take to settle the loan?in years and months

10.Samuel's retirement fund has an accumulated amount of $35,000. If it has been earning interest at 3.69% compounded monthly for the past 18 years, calculate the size of the equal payments that he deposited at the beginning of every 3 months.

11.Your RRSP savings of $27,500 are converted to a RRIF at 4.77% compounded monthly that pays $5,134 at the beginning of every month. After how many payments will the fund be depleted?

he value of a 7 year lease that requires payments of $550 made at the beginning of every month is $43,700. What is the nominal interest rate compounded monthly? in %