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What is the total amount of interest you would earn

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Question 1 - If Tata Motors were to invest $649 in a term deposit account, paying 8.1% p.a., simple interest, at the end of the 2-year fixed term, how much cash would Tata Motors earn at the end of the fixed term?

Question 2 - You are planning a holiday in 8 years time, which will cost you $10023. How much would you need to deposit into a savings account which pays 2.0% p.a. compounding quarterly, in order that you will have sufficient in your bank account to afford the trip?

Question 3 - You are planning a holiday in 1 years time, which will cost you $12872. How much would you need to deposit into a savings account which pays 4.8% p.a. compounding annually, in order that you will have sufficient in your bank account to afford the trip?

Question 4 - Which of the following statements is correct?

a. The more frequently interest payments are compounded, the higher the present value of the investment.

b. The lower the discount rate, the lower the present value.

c. The higher the discount rate the higher the present value.

d. The lower the discount rate, the higher the present value.

Question 5 - If you were to invest $150 for two years and earn 9% compound interest, what is the total amount of interest you would earn?

Reference no: EM133101817

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