Financial forcasting

Question:1Your grand-mother puts $1,000 per year in a TD Bank account for you She started doing this ten years ago to save for a big graduation trip after completion of high school and before starting university Money is worth 10% How much is sitting in the TD bank account as of now? Please round to the nearest whole number

$15,937

$25,937

$10,000

$6,147

$38,550

3Fred Flintstone is planning to retirement in the next ten years, he has estimated that he requires $200,000 on the date of retirement Bedrock Bank has a special retirement package in which if you can investment a semi-annual fixed payment for the next 10 years at 12% How much will Fred need to invest for the next 10 years so he will get $200,000 at retirement? (rounded to 2 decimal places)

$ 5,73420

$ 17,43694

$ 5,43691

None of the other alternatives are correct

$ 15,17359

6The Toronto Cancer Society needs $70,000 for the purchase of a new cancer treatment piece of equipment in four years If The Toronto Cancer Society is able to deposit $47,811 at the beginning of this year, what rate of interest – compounded annually – must The Toronto Cancer Society receive to fund the purchase of this piece of equipment in four years?

9%

10%

8%

11%

7%

Solution: