. Joan borrowed $15000 to buy a car. She repaid $2000 two months later and $5000 seven months later. After nvelve months, she borrowed an additional $4000, and repaid $3000 after 16 months. She paid the entire balance, including the interest, after 24 months. Interest was ?% compounded monthly for the rst year and 15% compounded monthly for the remaining time. What was the size of the nal payment? { 5 marks ) . lCarla has decided to purchase a $30,000 car. She can either liquidate some of her investments and pay cash or accept the dealer's terms of $?,000 down and successive payments of $10,000, $3,000 and $3,000 at the end of each of the next three years. Which choice should Carla make if she can earn ?'% compounded semiannually on her investment? What option should Carla choose? In current dollars, how much is the economic advantage of the preferred alternative? { 5 marks ) . Mr. and Mrs.Markovich note that the home they purchased 20 years ago for $210,000 is now appraised at $340,000. What was the equivalent annual rate of appreciation in the value of their home during the 20*year period? ( 2 marks ) . A $5000 face value strip bond may be purchased today for $1038.35 yielding the purchaser ?.2?% compounded semiannually. How much time to the nearest day remains until the maturity date? Assume that each half-year has exactly 132 days. { 4 marks ) . Go to httpvhvwwnancialpost.comlpersonal~nancefratesigicsannualhu'nl for current rates offered on GICs by Canadian financial institutions. How much more would you earn on a $15,000 investment for five years at the highest available rate than at the lowest rate? You must include a printed copy of your net research. (Hint: Not variable rates) ( 5 marks)