1.You lend Jack $6,000 and he agrees to repay you in equal year-end amounts over 5 years. If the interest rate is 8.6% per annum compounded quarterly, the annual repayment will be (rounded to nearest dollar; dont include the $ sign or commas):

4.Jane wants to buy a house and approaches the bank to borrow $606,000. The bank agrees to lend her the money and quotes a monthly repayment amount of $5,000 with no additional loan fees. If the banks quoted annual interest rate is 5%p.a compounding monthly calculate the number of fullmonth-end repayments using Excel. (answer by rounding down to whole number eg 50).

5.Jack needs $6100 in 6 years from today to buy a holiday. He invests $2500 today. Find the effective annual rate of interest that Jack needs to earn on this amount (as a %, 2 decimal places) in order to reach his goal. (Solve using excel =RATE function; Answer in percentage to two decimals without the % sign e.g. 1.88

10.You have the alternative of paying for university fees today for a payment of $15,000 or, you can select a payment plan where you pay $8,000 in 6 months from today and another $12,000 in exactly 18 months from today. If the interest rate is 9.9%p.a. compounding monthly, what is the advantage that the payment plan has over the upfront payment?

(expressed in present day value rounded to the nearest cent; do not show $ sign or comma separators; if the payment plan is more costly than $15,000 today, your answer will show a negative eg. -300.35)

12.Your uncle offers to sell you his vintage Rolls Royce. He suggests a payment plan where you pay just $17,000 today, $7000 in 11 months and $12,000 in exactly 20 months from today. If the interest rate is 5.4% per annum compounding monthly, what is the value of the offer (in present day dollars, rounded to the nearest dollar; dont show $ sign or commas)?

14.Find the future value in 7 years of the following cash flows: 2,000 in 2 years and 7,000 in 4 years. The interest rate is 7.6% p.a. compounded monthly for the first 5 years and 5.8% p.a. compounded half-yearly thereafter. (Correct your answer to the nearest cent without any unit (No need to put "$"). Do not use "," in your answer. e.g. 123456.78))

16.Payments of $10,000 per quarter are deposited into a fund at the end of each quarter for 11 years. If interest is 8.4% p.a. compounding quarterly, the size of the fund at the end of 11 years will be (to nearest dollar but dont include $ sign or commas):

18.Calculate the nominal interest p.a. compounded half-yearly that is equivalent to 7.2% p.a. compounded quarterly. (Correct your answer to the nearest 0.01%, e.g. 2.12%)

19.You deposit 5,000 into your bank account every month starting in one month. You earn an interest rate of 6.4% p.a. compounded quarterly. How much will in your account after 5 years? (Correct your answer to the nearest cent without any unit (Do not put $ in front of your answer.). Do not use "," in your answer. e.g. 123456.78)

20.Jack borrows $19,000 to be repaid in 2 equal year-end amounts over 2 years. If the interest rate is 4.7% per annum compounded quarterly, Jacks annual repayment is (rounded to nearest dollar; dont include the $ sign or commas):