Reference no: EM132273043

1.Payments of $200 at the end of each month for the next 6 year(s) are equivalent to a single payment of $X now (t=0). If interest is 10.7% p.a. compounding monthly, then $X is (to the nearest cent, do not show dollar sign or commas eg $2,185.6323 is shown 2185.63) :

2.Jillie wants to buy a new car but can't afford it right away. She decides to put away $2743 today, $4000 at the end of year two and $5200 at the end of year three. If the interest rate is 4.4% per annum, compounded annually, then the amount she will have in exactly 3 years is closest to:

Select one:

a. $12497.24

b. $12680.99

c. $12909.79

d. $13019.79

3.Payments of $300 at the beginning of each month for 1 year are equivalent to a single payment of $X at the start of the year. If interest is 9.6% p.a. compounding monthly, then $X is closest to:

Select one:

A. $3,419.58

B. $3,446.94

C. $3,945.60

D. $3,330.00

4.You lend Darren $5,000 and he agrees to repay you in equal year-end amounts over 5 years. If the interest rate is 6% per annum compounded quarterly, the annual repayment will be closest to:

Select one:

A. $1,186.98

B. $1,122.51

C. $1,191.39

D. $1,119.79