9.Dawn holds a 180-day GIC that paid interest of $160.27 The GIC earned simple interest at a rate of 6.5%. What was the amount of her initial investment? (Round to the nearest thousand.)

12.If you want to save

$45 000

for a down payment on a home in

4

years, assuming an interest rate of

5.5

percent compounded annually, how much money do you need to save each month? (Round to the nearest dollar.)

13.Harry purchased his condo for

$370 comma 000

and now the appraised value is

$390 comma 000

.

His outstanding mortgage is

$242 comma 000

.

What is the maximum home equity line of credit Harry would qualify for?

14.Jos and Rosa are looking for a home. Their combined gross annual income is

$66 comma 000

.

The best mortgage rate offered by their bank is 3.02 percent 5-year fixed rate compounded semi-annually with a 20-year amortization. The annual property taxes are estimated at

$2280

,

and the annual heating costs are

$1920

.

Their personal debt consumption is

$700

a month. The bank's guideline for TDSR is 40 percent. Based on this information, what is the maximum monthly mortgage payment they could afford?