Reference no: EM133042929
Questions -
Q1. What is the accumulated value of periodic deposits of $4,500 made into an investment fund at the beginning of every six months, for 5 years, if the interest rate is 3.75% compounded semi-annually?
Q2. Courtney invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 3.70% compounded semi-annually and for the next 3 years it earned interest at a rate of 6.30% compounded semi-annually.
a. Calculate the accumulated value of his investment at the end of the first 8 years.
b. Calculate the accumulated value of her investment at the end of 11 years.
c. Calculate the amount of interest earned from the investment.
Q3. Ariel invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned interest at a rate of 3.80% compounded semi-annually and for the next 4 years it earned interest at a rate of 6.70% compounded semi-annually.
a. Calculate the accumulated value of his investment after the first 7 years.
b. Calculate the accumulated value of his investment at the end of 11 years.
c. Calculate the amount of interest earned from the investment.
Q4. For 22 years, Janet saved $1,150 at the beginning of every month in a fund that earned 5.25% compounded annually.
a. What was the balance in the fund at the end of the period?
b. What was the amount of interest earned over the period?
Q5. A contract requires lease payments of $800 at the beginning of every month for 6 years.
a. What is the present value of the contract if the lease rate is 4.25% compounded annually?
b. What is the present value of the contract if the lease rate is 4.25% compounded monthly?
Q6. Lisa secured a 4-year car lease at 6.20% compounded annually that required him to make payments of $881.07 at the beginning of each month. Calculate the cost of the car if he made a downpayment of $3,000.
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