Q1

Deposits of $94.00 are made at the end of every sixmonths for 3.5 years. What will the deposits amount to if interest is 7% compounded semi-annually?

The future value is $_____

Q2 ANSWER ALL THE POINT PLEASE

Cam saved $205 each month for the last three years while he was working. Since he has now gone back toschool, his income is lower and he cannot continue to save this amount during the time he is studying. He plans to continue with his studies for five years and not withdraw any money from his savings account. Money is worth 4.2% compounded monthly.

(a) How much will Cam have in total in his savings account when he finishes hisstudies?

(b) How much did hecontribute?

(c) How much will beinterest?

(a) The future value is $__

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q3.

Diana has contributed $2,312.00 every year for the last 12 years into an RRSP fund. The interest earned by these deposits was 6% compounded annually for the first 6 years and 9% compounded annually for the last 6 years. How much money is currently in theRRSP?

The balance is $__

(Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places asneeded.)

Q4.

Find the present value of the following ordinary simple annuity.

Periodic Payment-$583

Payment Interval-1quarter

Term-7.5years

Interest Rate-11.2%

Conversion Period-quarterly

The present value is $____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q5.

A credit union entered a lease contract valued at $7200. The contract provides for payments at the end of each quarter for 4 years. If interest is 4.7% compounded quarterly, what is the size of the quarterly payment?

The payment is $___

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q6

Julia saves $18 at the end of each week and deposits the money in an account paying 11% compounded monthly. How much will Julia accumulate in 6 years? How much of the accumulated amount isinterest?

Julia will accumulate $____ in 6 years.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q7.

Find the future value of the following ordinary annuity.

Periodic Payment- $161.00

Payment Interval- 3months

Term- 7 years

Interest Rate- 12%

Conversion Period- annually

The future value is $____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q8.

For herdaughter's education, Georgina Harcourt has invested an inheritance in a fund paying 5% compounded semi-annually. If ordinary annuity payments of $196 per month are to be made out of the fund for eight years, how much was theinheritance?

The inheritance was $____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q9.

Find the present value of the following ordinary annuity.

Periodic Payment- $85

Payment Interval- 1month

Term- 4 years

Interest Rate- 10%

Conversion Period- annually

The present value is $____

Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q10

Whatpayment, made at the end of each year for 13 years, will accumulate to $12,200 at 7% compounded monthly?

The required annual payment is $____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)