Financial Mathematics

An investment of $4500 earns compound interest at a rate of 6.4% p.a. and is made for 5 years. The balance in the account at the end of the investment period, if interest is compounded quarterly, is:

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:

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:

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:

After 4.5 years $1200 has grown to $1750 in an account where interest is compounded monthly. The annual interest rate is:

A reducing balance loan of $56 000 is repaid by quarterly instalments of $1332.24 over 15 years at an interest rate of 5% p.a. (adjusted quarterly). If, instead, repayments of $1500/quarter were made throughout the loan, the term of the loan would

A reducing balance loan of $24 000 attracting interest at 6.5% p.a. can be repaid over 5 years by either quarterly repayments of $1415.18 or fortnightly repayments. The fortnightly repayment value is between:

A loan of $10 000 is taken over 10 years. The total interest bill on this loan is $2000. The simple interest rate per year on this loan is:

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