fx 4 A B u C D E F G H 1 L M N o P Question 1 1 2 3 4 5 In 3 years you want to have $5000 in the bank, if the interest rate was 8%, how much do you need now? 6 7 8 9 10 11 Question 2 You currently have $5000 in the bank, you plan on keeping it in the bank for 10 years at a interest rate of 5%, how much will you have in 10 years? 12 13 14 15 Question 3 16 17 18 19 20 21 22 23 24 25 You currently have a student loan for $12,000 at a 6% interest. You currently pay $222.00 a month and interest compunds 12 times per year. How long will it take you to pay off your loan? 26 27 28 29 30 Question 4 You currenlty have a loan for $5000 due in 60 mths with interest compounded monthly. You pay a monthly payment of $93.22. What interest are you paying? 31 32 33 34 35 36 37 38 39 40 41 42 Question 5 43 You currently have a loan $6000 at 4.5% for 5 years compounding monthly. What is your monthly payment? 44 45 46 47 48 49 50 51 Question 6 What deposit today would you have to make at your bank at a rate of 8% if you wanted to witthdrawal $100 each year for 5 years 52 53 54 55 56 57 58 59 60 61 62 63 Question 7 64 Assume that you are planning on retirement in 30 years. If you deposit $5,500 at the end of each year into an RRSP that will earn an average of 7.5% per year, how much will you have after 30 years? 65 66 67 68 69 70 71 72 73 Question 8 a. You are looking at buying a house and have a maximum budget of $1315 per month. The house you really like is $300,000 and current interest rates are 5% over 25 Years. Can you afford this house? 74 75 76 77 78 79 80 81 b. How much of a down payment would you have to put dow to be able to afford this house? 82 83 84 85 86 87 Question 9 You are looking to save $30,000, you currenlty have $5000 in the bank and plan on saving an additional $300 per month until you have the $30,000. You are going to get a interest rate of 5%. How long wil 88 89 90 91 92 93 94