Q1.

A variable rate demand loan showed an initial balance of $11,000.00, payments of $5000.00 after sixmonths, $5000.00 after 21months, and a final payment after six years. Interest was 8% compounded quarterly for the first 21 months and 7.5% compounded monthly for the remaining time. What was the size of the finalpayment?

The final payment is $ 11770.50(incorrect)

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q2.

What is the principal that will grow to $5900 in five years, one month at 6.9% compounded quarterly?

The principal is $_____

(Round to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Q3.

How long will it take $750.00 to accumulate to $902.00 at 8% p.a. compounded quarterly? State your answer in years and months(from 0 to 11months).

The investment will take year(s) and ______months to mature.

Q4.

If you borrow $3000.00 on May1, 2019, at 10% compounded semi-annually, and interest on the loan amounts to $140.24, on what date is the loandue?

The due date is(INCLUDE THE MONTH AND YEAR ALSO)

Q5

Graham purchased a business by agreeing to make three payments of $11,000.00 each in 2 months, 7 months, and 13 months. Because of cash flowdifficulties, he renegotiated the payment schedule so that he would pay $13,100.00 in 5 months, $11,000.00 in 16 months, and a third payment of $10,000.00. In how many years should he make the third payment if interest is 9% compounded monthly? State your answer in years and months(from 0 to 11months).

The payment of $10,000.00 can be fulfilled in year(s) and month(s).

(Round down to the nearestmonth.).

Q6.

Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months(from 0 to 11months).

Original Payments -$1340.00 due today and $1755.00 due in 3 years

Interest Rate- 9%

Frequency of Conversion -monthly

Single Payment-$3508.75

In _____year(s) and _____ month(s) the single payment will be equivalent to the original payments.

Q7.

a) How many years will it take for$7500 to accumulate to$9517.39 at3% compoundedsemi-annually?

(b) Over what period of time will money triple at9% compoundedquarterly?

(c) How many years will it take for a loan of $10,000 to amount to $13,684 at10.5% compoundedmonthly?

It will take____ years.

(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places asneeded.)

Q8.

What is the nominal annual rate of interest compounded semi-annually at which $957.00 will accumulate to $2858.67 in seven years and six months?

The nominal annual rate of interest is _____%.

(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places asneeded.)

Q9

YinLi deposited $200.00 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $563.80 in eight years?

The nominal annual rate of interest is ____% per annum compounded monthly.

Q10.

A debt of $511.03 was to be repaid in 12 months. If $951.26 wasrepaid, what was the nominal rate compounded semi-annually that wascharged?

The nominal rate compounded semi-annually is _____%.

(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places asneeded)

Q11.

At what nominal rate of interest compounded quarterly will$300 earn$80 interest in sixyears?

The nominal rate of interest is _____%.

(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places asneeded.)

Q12.

What is the nominal rate of interest compounded semi-annually if the effective rate of interest on an investment is 11.6%?

The nominal rate of interest is _____% compounded semi-annually.

(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places asneeded.)