THINKING & COMMUNICATION 4. Without calculating, explain which investment is better and why for a principal investment of $100: an investment offering a 5% simple interest rate vs. a 5% rate that is compounded monthly. 1T/1C 5. The chart below demonstrates the growth of an investment fund over 50 years. Answer the following questions by studying the data in the chart. Year Beginning Balance 5% Interest Ending Balance $100.00 0.05 * $100.00 = $5.00 $105.00 2 $105.00 0.05 * $105.00 = $5.25 $110.25 3 $110.25 0.05 * $110.25 = $5.51 $115.76 4 $115.76 0.05 x $115.76 = $5.79 $121.55 5 $121.55 0.05 x $121.55 = $6.08 $127.63 50 $1,092.13 0.05 x $1,092. 13 = $54.61 $1, 146.74 This chart represents interest. simple / compound Provide one reason to support your choice: 1T/1C MBF 3C1 - Personal Finance AssignmentName: Unit 4 Assignment: Personal Finance /14 FULL SOLUTIONS: Show calculations and work for full marks. Where appropriate, write full sentence responses. KNOWLEDGE 1. Determine the amount earned on $11 800 at 8.4% per year, compounded quarterly, for 14 years. P = i = n = 3K 2. It is Jerry's 14th birthday and his parents plan to invest some money so that they will have $17 000 on Jerry's 18th birthday for his post-secondary education. They invest in an RESP that pays 8.6% per year, compounded quarterly. How much money must Jerry's parents invest now to reach their goal? 3K APPLICATION 3. Mona needs a loan of $7500 for 6 years. a. How much interest will each plan charge? Plan A: 10% per year, compounded semi-annually Plan B: 8.1% per year, compounded quarterly Plan A Plan B 4A b. Calculate the difference in the amount of interest between the two plans. Which plan will require her to pay the least amount of interest? : Mona should select: O Plan A O Plan B because it charges $_ less interest. MBF 3C1 - Personal Finance AssignmentName: Unit 7 Assignment: Measurement 17 Your school's Environmental Group has realized the importance of recycling. They have noticed that not a lot of students are recycling at school. The group conducted a survey and discovered that many students are uncertain about things that can be recycled. To solve this problem, the Environmental Group would like to design a recycling bin that would clearly define the three items that can be recycled (1. plastic/glass bottles, 2. aluminum cans and 3. paper). The group would like to divide the recycling bin into these three components. For this assignment, you must design a recycling bin that satisfies the given constraints. You may design by hand, on a Google Jamboard or with the Geometer's Sketchpad software. . The bin must have a designated area for plastic and glass bottles; . The bin must have a designated area for aluminium cans (such as fruit drinks or pop cans); The bin must have a designated area for paper, and the paper must not be crumpled into a ball (think of possible ways the paper section can be designed to avoid this problem); The bin must be easy to transport and easy to unload; . . . The bin must be properly labelled; The bin must be a realistic size for a hallway or a cafeteria; 1. Draw an isometric perspective drawing of your design. Include features like the openings, doors, wheels, etc. Define a suitable scale. 2K MBF 3C1 - Measurement Assignment2. Draw a set of orthographic drawings for your design, including the front view, side view and top view. Include key features like openings, doors, etc. Define a suitable scale 1K/1A 3. Draw a net for your design. If your design is modular, you must include 1 net for each compartment. Select a suitable scale. 1A/1T 4. Include a brief rationale for your design, identifying why the school should pick your design. Be sure to discuss how you have addressed the given constraints of this design problem. 1C MBF 3C1 - Measurement Assignment