Sum You were released from your current job and received a settlement of $54,000. The Canada Revenue Agency allows you to place the settlement in an RRSP. Fifteen years from now, you intends to transfer the money from the RRSP 10a Registered Retirement Income Fund (RIP). Thereafter, you will make equal withdrawals at the end of each quarter for tiheen years. It both the RSSP and the RRIF earn 6% compounded quarterly, what will be the amount of each withdrawal? Multiple Choice $3,350.25 $3,550.25 $3,380.25 . An Investment of $10,000 on January 1, 1970 grew to $300,000 on January 1, 2010. What average only compounded of return was earned? Multiple Choice 300% O 10.025% 8.778% R87594 wut Paula is unable to make a $4500 payment due today. She proposes to settle the obligation by making two equal payments-onen four months and a second in nine months. What must each payment be to make the proposed payment stram equivalent to the scheduled payment if money can earn 3.2% compounded monthly? Multiple Choice $2,452.80 O $2,852.80 $2,492.80 $1.452.80 3 You have savings of $2.000 on June 1. Since you may need some of the money during the next three months. you are considereg two options at your bank (1) An investment Builder account earns a 125% rate of interest. The interest is called on the day closing balance and paid on the first day of the following month. A 90-10 179 Chable term depostens rute of 18% paid at maturity. If interest rates do not change and Joan does not withdraw any of the funds, how much more will she en from the term deposit option up to September 1? (Keep in mind that savings account interest paid on the first day of the month wise earn interest during the subsequent month.) Multiple Choice $3.55 $2.81 $5.62 3 You borrowed $1.000, $2,500, and $3,000 from your parents on September of three successive years at conege. You agree that interest would accumulate on each amount at the rate of 3% compounded semiannually. You wish to repay the loan one year wher the last loan. What consolidated amount will he owe at that time? os Multiple Choice $6,237.53 $6,83753 $6,873.53 102752 Me Hari finished her education at Hampton College on the Green on June 3 with Canada Student Loans totalling 56000. She decided to capitalize the interest that accrued (at prime plus 2.5%) during the grace period. In addition to regular end-of-month payments of $200, she made an extra $500 lump payment on March 25 that was applied entirely to principal. The prime rate dropped from 6% to 5.75% effective September 22, and declined another 0.5% effective March 2. Calculate the interest accrued during the grace period the interest portion of the first payment 2 Multiple Choice $286.67 Interest $48.05 interest portion of first payment $268.87 interest $48.05 interest portion of first payment $286.67 interest first payment