Question $2$

$2$ Points

How much can be paid in scholarships at the end of each half$-$year if $$220,000$ is deposited in a trust fund if interest is $3\mathrm{.}6\%$

compounded semi$-$annually?

Integer, decimal, or E notation allowed

Question $3$

A GIC has an effective rate of return of $6\mathrm{.}75\%.$ What is the equivalent nominal rate that compounds quarterly?

Integer, decimal, or E notation allowed

Question $4$

$1$ Point

The future value of an annuity can be found by adding together all the payments that are paid into an account.

True

False