Waldo invested $250 in a TFSA at the end of each month for 3 years. At the end of the 3 years, Waldo's investment totals $10,000. Assuming monthly compounding, what approximate nominal annual return did Waldo's investment earn? (Disregard taxes) A) 6.74% B) 7.12% C) 7.58% D) 8.74% Page 1 of 15 Calculate the approximate investment required, at the end of each year, to generate $100,000 at the end of 10 years assuming an annual nominal return of 6.5% compounded annually. (Disregard taxes) A) $6,106.48 B) c$6,503.40 C) $6,958.19 D) $7,410.47 Dage 2 of 19 Electric Corp. knows it will need $2,500,000 in exactly 3 years, when it begins construction on a new production facility. It believes it can save sufficient money from cash flow. Approximately how much does the company need to save at the end of each quarter if it is going to meet its savings target? Assume the company can earn an annual nominal return of 12.6%, compounded quarterly. (Disregard taxes) A) $56,906.51 B) $57,504.03 C) $169,326.60 D) $174,659.36 Page 30 Mahood has been offered $100,000 for the purchase of his cottage; however, the payment will be made as $60,000 immediately with the remaining $40,000 to be paid at the end of 9 months from now. Assuming an annual nominal interest rate of 5.5%, what is the approximate present value of the $40,000 future payment? (Disregard taxes) A) $37,914.69 B) $38,387.19 C) $38,425.60 D) $40,000.00 Page