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The present value of an annuity of $2,000 payable at the start of each month at J12 = 12% for 8 years is: Select one: O A. $290,271.42 O B. $124,285.96 O C. $124,825.69 O D. $118,412.54 When do you need to apply compound interest compared to simple interest? Select one: O A. You will not use simple interest when: You have 1 or many values on your timeline; If you have many values on your time line, these figures are of different amounts, If you have many same values on you time line, these figures are at different points in time on your time line. For example, if you only have 200 on your timeline, and if these are on month 2 month 5, month 9 etc. use compound interest O B. You will use compound interest when: You have 1 or many values on your timeline; If you have many values on your time line, these figures are of different amounts, If you have many same values on you time line, these figures are at different points in time on your time line. For example, if you only have 200 on your timeline, and if these are on month 2 month 5 month 9 etc. use compound interest O C. You will not use compound interest when: You have 1 or many values on your timeline; If you have many values on your time line, these figures are of different amounts, If you have many same values on you time line, these figures are at different points in time on your time line. For example, if you only have 200 on your timeline, and if these are on month 2 months, month 9 etc. use compound interest O D. You will use simple interest when: You have 1 or many values on your timeline; If you have many values on your time line, these figures are of different amounts, If you have many same values on you time line, these figures are at different points in time on your time line. For example, if you only have 200 on your timeline, and if these are on month 2, month 5, month 9 etc. use compound interest A loan of $500 is to be paid with 1 payment of $600 in 6 months. The simple interest charged per- annum on the loan is: Select one: O A. 32.71% p.a. OB. 30.09% p.a. O C. 37.02% p.a. O D. 3.09% p.a. If one compound interest rate is 12 percent per annum compounding monthly (112 = 12%) and another interest rate is 12 percent per annum compounding weekly (552 = 12%), what is the interest rate per period in each case, how many periods per year is there for each type of interest rate and how many periods will there be for 5 years Select one: OA Weekly rate 312/12 = 1%, 12 periods per year and 60 periods for 5 years; Monthly rate 152/52 = 0.23%, 52 periods per year and 260 periods for 5 years OB Monthly rate J12/12 = 1%, 12 periods per year and 60 periods for 5 years; Weekly rate 152/52 = 0.23%, 52 periods per year and 260 periods for 5 years O C. Monthly rate J12/12 = 1.1%, 12 periods per year and 50 periods for 5 years; Weekly rate 152/52 = 0.23%, 52 periods per year and 260 periods for 5 years OD Yearly rate J12/12 = 1%, 12 periods per year and 60 penods for 5 years; Weekly rate 152/52 = 0.23%, 52 periods per year and 260 periods for 5 years John bought a car worth $29,000 by taking a bank loan. He pays $5,000 initial deposit and agrees to pay $600 at the beginning of each month as long as necessary. What is the number of full payments he needs to make if interest is J12 = 12%? Select one: O A. 49 OB. 50 O C. 51 O D.52 A coupon bond is purchased for $900 with the maturity period of 6 years. The coupon payment of $50 is to be paid at the end of each half year. If the desired rate of return (yield rate) is J2=12% p.a., then the face value of the bond is: Select one: O A. $976.84 O B. $967.48 O C. $480.81 O D. $863.46 What is the effective annual rate of 12% per annum compounded monthly? Select one: O A. 16.82% O B. 12.68% O C. 12.86% O D. 16.82% Stark is seeking to hold his $20,000 savings in a savings account for 1 year. He enquires with three banks, Bank A, Bank B, and Bank C. Bank A offers J12 = 12%; Bank B offers 12 =12.1%, and Bank C offers 34 = 12.05%. Which bank should stark deposit his savings? Select one: O A. Bank B O B. Bank C O C. Bank A O D. Bank A and Bank B Which of the following statements is not true? Select one: O A. In an annuity due payments occur at the start of the period. O B. One can calculate the future value of a perpetuity O c. A perpetuity does not mature at some point in the future. O D. In an ordinary annuity payments occur at the end of the period. What order do you need to follow to solve simple interest and simple discount problems? Select one: O A. Draw the timeline, put the values on the right point on the timeline, identify your focal date, and take all values to the focal date which is usually the present point in time unless specified by the question. O B. Read the question, draw the timeline, put the values on the right point on the timeline, identify your focal date, take all values to the focal date which is usually the present point in time unless specified by the question. O C. Draw the timeline, identify your focal date, read the question, put the values on the right point on the timeline, take all values to the focal date O D. Read the question, draw the timeline, put the values on the right point on the timeline, identify your focal date, and take all values to the focal date A loan of $500 is to be paid with two payments of $300, one in 3 months, and another in 6 months. The compound interest charged per-annum on the loan is: Select one: O A. 4.82% p.a. OB. 8.63% p.a. O C. 4.18% p.a. O D. 8.36% p.a. To calculate the price of a coupon bond, the following information is required: Select one: O A. Face value of the bond, yield to maturity rate, maturity date and inflation rate. O B. Face value of the bond, yield to maturity rate, maturity date, coupon rate and inflation. O C. Face value of the bond, inflation rate, coupon rate and coupon rate. O D. Face value of the bond, yield to maturity rate, maturity date and coupon rate. A $9,000 loan is to be repaid over 7 years with monthly payments of 112 = 12% p.a. Determine the amount of principal that is paid on the 5th payment. Select one: O A. $71.67 O B. $95.02 O C. $29.98 O D. $76.17 McTavish wants to buy a new car worth $20,000. He pays $2,000 deposit and agrees to pay $400 at the end of each month as long as necessary. Find the concluding payment one month later if interest is at 12% p.a. compounding monthly Select one: O A. $33.00 O B. $32.00 O C. $30.00 O D. $31.00 If you were given the option of investment A which pays 12% p.a. simple interest for 5 years compared to investment B which pays 12% p.a. compound interest also for 5 years, which of these alternatives is the better option? Select one: O A. Investment B because compound interest would accumulate a greater amount compared to simple interest. OB. Investment A because simple interest would accumulate a greater amount compared to compound interest. OC. Investment B because compound interest would accumulate a greater amount compared to simple interest. OD. Investment B because simple interest would accumulate a greater amount compared to compound interest. Your best friend John is willing to sell his brand new car to you at a negotiated price which he is willing to keep unchanged for 15 years. You have paid $5,000 to John to lock the deal. However, you still need to pay $20,000. If you could invest the rest of your savings of $8,000 at an annual interest rate of J1 = 5%, how much money can you accumulate within 15 years and would you be able to buy his car? Select one: O A. $27,026.07 and yes, you can easily afford to buy his car O B. $10,394.64 and no, you would not be able to buy his car O c. $16,631.42 and no, you would not be able to buy his car O D. $16,631.42 and yes, you can buy his car because you have also paid $5,000 deposit A loan of $500 is to be paid with 1 payment of $600 in 6 months. The compound interest charged per-annum on the loan is: Select one: O A. 3.09% p.a. O B. 37.02% p.a. O C. 40.00% p.a. O D. 32.71% p.a. What annual deposits are needed for 10 years to provide for a perpetuity of $3000 per year with the 1st payment due at the end of 11, 1 year after the final deposit with J1 = 8% p.a.? Select one: O A. $8,696.20 O B. $2,585.16 O C. $2,588.61 O D. $2,885.26 Jon Snow requires a loan of $15,000. He enquires with three banks, Bank A, Bank B, and Bank C. Bank A offers J24 6.8%; Bank B offers J2 =7%, and Bank C offers J1 = 6.95%. Which bank should Jon get his loan from? Select one: O A. Bank A O B. Bank B O C. Bank A and Bank B O D. Bank C