1.Jack wants to buy a boat today today but has realised that if he takes out a loan he can only repay $200 quarterly, with payments made at the beginning of each quarter, over the next 5 years. How much can he spend on his boat today if the interest rate is 9.3% per annum compounded quarterly?

Select one:

a. $3170.00

b. $3243.70

c. $843.70

d. $771.91

2.Jack wants to accumulate $22,000 for a motor-bike in 6 years time. To do this, he will make 24 level deposits (quarterly) with the first deposit today. If he earns 14.5% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; dont use $ sign or commas)

Select one:

a. $1211.86

b. $590.55

c. $2222.82

d. $569.89

3.You are wishing to accumulate $17,000 for an expedition in 5 years time. To do this, you will make 10 equal deposits (half yearly) with the first deposit today. If you earn 9.0% per annum compounding twice yearly, what deposit will be needed? (round to nearest cent; dont use $ sign or commas)

Select one:

a. $1323.87

b. $1383.44

c. $2606.03

d. $682.42

4.You are wishing to accumulate $17,000 for an expedition in 5 years time. To do this, you will make 10 equal deposits (half yearly) with the first deposit today. If you earn 9.0% per annum compounding twice yearly, what deposit will be needed? (round to nearest cent; dont use $ sign or commas)

Select one:

a. $1323.87

b. $1383.44

c. $2606.03

d. $682.42