Downsizing a big home requirement is considered a way for retirement management. Which of the followings are reasons for downsizing?

Select one: a. All of the above. b. Grown-up children with their own homes. c. Retiree and spouse need additional cash for chosen lifestyle. d. Depending on affordability, chosen lifestyle includes in-house entertaining.

The nominal annual rate for a 5-year hire-purchase loan with a flat rate of 3% per annum is:

Select one:

a. 5.79%

b. 5.64%

c. 3%

d. 3.34%