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Clayton invested $360 in a bank for 3 years at 8% simple interest each year. At the end of the 3 years, the total amount he will receive is:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
A 6-year bond pays 8.5 % p.a. simple interest. If Rhonda buys a bond worth $500, the interest she would earn would be:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
Jarrod saves $500 per month in an account that pays interest at a rate of 6% per annum, compounding monthly. If he makes regular monthly payments of $500 to the account, how much will he have in the account at the end of 10 years?
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
A scholarship of $500 per term is provided for by a perpetuity invested in a fund offering 4.8% per annum, compounded quarterly. The amount that needs to be invested is closest to:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
A loan of $5000 is taken over 5 years. The simple interest is calculated monthly. The interest bill on this loan is $1125. The simple interest rate per year on this loan is:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
A sum of $850 is invested at 8% p.a. compound interest, credited fortnightly. For the balance to grow to $1200 the investment should be left for a minimum of:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
After 4.5 years $1200 has grown to $1750 in an account where interest is compounded monthly. The annual interest rate is:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
A pearl necklace is purchased on hire-purchase for $225 deposit with equal monthly payments of $80 for 2 years. The cash price is $2000. The interest rate is:
$446.40
$81 939.67
8.4%
$255
4.5%
4 years 9 fortnights
$41 700
4%
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