\f1. Research online and compare the Premium Plan chequing account and the Plus Plan chequing account at the Bank of Montreal. Include a comparison of month fees, the minimum balance to have the monthly fee waived, costs. per transaction at BMO, and the cost per transaction at ATM at places. other than BMO. Are these accounts offered free to anyr groups of individuals? 2. IDne account at a credit union allows its customers 10 free transactions per month and charges 51.?5 for all other bank transactions. They also charge $1.5U for any ATM transaction that did not occur at their institution. Calculate the fees they would charge a customer if this customer has 15 transactions at the Credit Union plus an additional 3 transactions at ATMs at other places. 3. Research online and compare the rates of interest that TD Canada Trust and the bank of Montreal offer their customers on their TFSA. Do they require a minimum balance? 3.4' Calculate the amount of simple interest you would pay on a loan of $20000 at a rate of 5.6% per annum for three years+ 5. Calculate the time it would take for a WOOD dollar investment to earn $1400 of simple interest at a rate of 4% per annum. 6. Calculate the time in months it would take for a $1500 dollar investment in a TFSA to grow to $1545 if the simple interest at a rate paid was 2% per annum. 6.T". Calculate the rate of interest paid if an eight year investment of $5000 earned $1000 dollars in simple interest. 8. Calculate how much you would have to invest to earn $1000 in simple interest over 30 months if the yearly interest rate offered was 3.2% 8.9. Calculate the total amount your investment would be worth if you invested $3000 at a rate of 2.6% compounded quarterly for 4 years. 9.10. Calculate how much interest you would earn if you invested $15000 in a GIC that paid 3.1% compounded monthly for 5 years. 10. 11. Using the rule of T2, calculate how many months it would take an investment to double if the interest rate paid was 3%. ll. 12. A customer receives a new credit card and makes the following transactions. A cash advance of $1000 on October 10. She then makes $2000 purchase between October 12 and October 21. Her due date on the bill is November 3 and the yearly interest rate is 18%. Interest is only on cash advances and overdue payments. How much does she owe? 13. A customer has two payment options at a local furniture store when purchasing appliances worth $6000 1. Oponl 0 Down payment of 15%. 0 If paid off within 12 months, no interest charged. 0 If paid off after 12 months, simple interest is charged at 18% per year from the date of purchase. How much would the customer pay using this option if he made one payment for the entire balance after 12 months? 2. Option 2 i 5% down payment I Monthly payments of $235 for 2 years. How much would the customer pay if they chose this option? 14. Calculate the daily and annual rate on interest charged on a payday loan of $400 if the interest charged was $35 when it was paid back 6 days later. 14. 15. Use the following personal loan payment calculator to determine the monthly payments and the total cost ofborrowing $13000 at rate of 3% for 4 years. PERSONAL LOAN PAYMENT CALCULATOR Monthly payment per $ 1000 borrowed Interest Rate Term in Years 1 2 3 4 5 3.00 84.69 42.98 29.08 22.13 12.97 16. Use the Monthly Mortgage Payment Calculator to determine the difference between the monthly payments and the total cost of payments made on a $325000 mortgage at a rate of 5.5% for twenty years to the same mortgage taken out over 30 years. 16. INTEREST MONTHLY PAYMENT RATE PER THOUSAND DOLLARS 15 years 20 years 30 years 4.25% $7.53 $6.21 $4.93 4.5% 7.65 6.34 5.08 4.75% 7.78 6.48 5.22 5.0% 7.91 6.60 5.37 5.25% 8.04 6.74 5.53 5.5% 8.18 6.89 5.69 5.75% 8.31 7.03 5.84 6.0% 8.44 7.17 6.00 6.25% 8.58 7.32 6.16 6.5% 8.72 7.46 6.33 6.75% 8.85 7.61 6.49 7.0% 8.99 7.75 6.65 7.25% 9.13 7.90 6.82 7.5% 9.27 8.06 6.99Talia has just received a promotion and is considering continuing renting an apartment or the option of buying her rst home. The next ve questions will explore these two options. 17. What would be the total cost to Talia after four years of renting her apartment for $1,200 per month including all utilities if she sublets her apartment for July and August when she is on vacation and receives $800lmonth from her shared room mate? 1?. The other option is to buy a small home for $475,000 that would require a 12% down payment with a mortgage amortized over 30 years at an annual rate of 5.0% compounded semi-annuallyr for a 4 year term. 13. A what would be the cost of the down payment for the house\"? 183. 18b. What would be the monthly mortgage payments for the house be after paying the downpayment? (plug the appropriate values in to the TVM solver to determine the payment amount) n: we: PU: PMT= 2?? FV= pH: C/Y= 1313+ 19. If it is believed the house will be worth 20% more in 4 years, what will the total worth be at that time? 19. 20. Use the calculated monthlyr mortgage payment from question 18. b and the information below to determine how much Talia would still owe on the house after four years? 2 marks (plug the appropriate values in to the \"M solver to determine the future value) The house costs $475,000 and would require a 12% down payment with a mortgage amortized over 30 years at an annual rate of 5.0% compounded semiannually for a 4 year term. I%= PV= FV=??? P = CIY= 2O . 21. Knowing that Talia could rent the other bedroom in the house to someone else which would generate $12,000 annually, and that the cost of taxes, utilities and maintenance would be $4,300 per year, what would be the cost of living in the home for fours years? 21. TVM Solver- use this technology for complicated loan and investment questions