Question 4 0 / 1 point Steven has deposited $5,491 in 8.1% p.a. simple interest rate for 1 months. How much is his outstanding balance at the end of 1 months? Answer: :1 (5,528.06) Question 5 0 / 1 point You want to buy a house in four years and expect to need $250,000 for a down payment. If you have $195,000 to invest, how much is nominal interest rate (compounded quarterly) p.a. to reach your goal? Hint: if your answer is 10.14%, please input as 10.14, rather than 0.1014, or 10.14%, or 10.14 per cent. Answer: x (6.26) Question 6 0 / 1 point You are planning your retirement and you come to the conclusion that you need to have saved $1.43 million in 29 years. You can invest into a superannuation that guarantees you a 4.12% return compounded monthly. To reach your retirement saving goal, how much is monthly contribution if it is made at the beginning of each month? Answer: R (2,130.91) Question 7 0 / 1 point William expects to live for another 23 years after retirement. During those 23 years, William plans to withdraw $4,000 living expense from his superannuation fund at the beginning of each month. How much is the minimum superannuation balance William needs when he retires? Assume his superannuation fund delivers 5.8% p.a. rate of return, compounded monthly. Answer: X (611,823.48) Question 8 0 / 1 point Jack will receive $50,094 at the end of each year until infinity. If the interest rate is 7% p.a, how much is the present value of this income stream? Answer: X (715,628.57) Question 9 0 / 1 point You set up a saving plan in which you deposit 603 at the end of each year. How much money will you accumulate at the end of year 14, if the account pays 5.44% pa. compounded annually? Answer: x (12,185.31) Question 10 0 / 1 point What is the future value of the mixed cash flow pattern as below, at the end of year 8, assuming a 2.3% interest rate (compounded annually)? End of year Cash Flow 3 1,963 5 2,237 8 3,507 Answer: 2 (8,101.30)