Question 1

2 Points

Jeff made equal deposits at the end of each month into RRSP. If interest in his account is 4.8% compounded annually, and the balance after eleven years is $15,500. What is the size of the monthly payment?

Question 2

3 Points

The sale of a property provides for payments of $2000 due at the beginning of every three months for six years. If the payments are deferred for four years and interest is 10% compounded monthly, what is the cash value of the property?

Question 3

1 Point

Find the present value of an annuity with payments of $1250 at the end of each year for 7 years. The interest rate is 5% compounded annually.

Question 4

2 Points

The Superior Tool Company is repaying a debt of $20,000 by payments of $1500 made at the end of each month. Interest is 7.5% compounded semiannually. How many payments are needed to repay the debt?

Question 5

2 Points

How much can be paid in scholarship at the end of each half-year if $120,000 is deposited in a trust fund if interest is 6.8% compounded semiannually?