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
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)
None of the other alternatives are correct
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?
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