Question: You can solve the questions on this exam using TVM solver or by formula. 1. Find the future value of $200 deposits made at the
You can solve the questions on this exam using TVM solver or by formula. 1. Find the future value of $200 deposits made at the end of every quarter for six years if interest is 5% compounded quarterly. (4 marks) 2. If Melanie made payments of $258.45 at the beginning of each month for five years, how much was her car loan originally for? Interest is 4.3% compounded monthly. ( 4 marks) 3. If Shalane borrows $27,000 at 6.9% compounded quarterly, how much will her payments be each month if she wishes to pay off her loan in 8 years? ( 4 marks)
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