HSC Standard 2 Investments and Loans 2

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Betty invests $16 000 at an interest rate of 3.6% p.a., compounded monthly. What is the future value of the investment after 2 years?

1 point

$16115.41

$17 048.69

$17172.74

$17192.63

Clear selection

Betty borrows $18 000 to buy a boat and is charged 8% p.a. flat-rate interest over 10 years. Which of these will be her monthly repayment?

1 point

$260

$270

$280

$290

Clear selection

The daily interest rate for the outstanding balance on a credit card was 0.037%. The simple interest charged for 29 days was $9.12. How much was the outstanding balance? Answer to the nearest dollar.

1 point

$246

$850

$971

$24649

Clear selection

Betty invests $4 200 at 4% p.a. compounding annually. What will be the value of the investment at the end of three years?

1 point

$504.00

$524.43

$4 704.00

$4 724.43

Clear selection

1 point

$800

$880

$1000

$1100

Clear selection

Which of these shares has the best dividend yield?

1 point

share price = $4.20, dividend per share = $0.28

share price = $13.90, dividend per share = $0.85

share price = $63.80, dividend per share = $4.09

share price = $147.20, dividend per share = $8.53

Clear selection

Betty used her credit card to purchase a washing machine for $1250 on 18 April. Simple interest is charged at a rate of 16.2% p.a. for purchases on her credit card. There were no other purchases on the credit card account and there was no interest-free period. The period for which interest is charged includes the date of purchase and the date of payment. The account was paid in full on 3 May. Which of these is closest to the amount paid?

1 point

$1258.19

$1258.22

$1258.88

$1452.50

Clear selection

In July, Ms Alott received a statement for her credit card account. The account has no interest-free period. Simple interest is calculated and charged to her account on the statement date. What is the minimum payment due on this account?

1 point

$22.42

$25.00

$86.08

$87.20

Clear selection

A car is purchased but over time its value drops. Which graph best represents the salvage value of the car using the declining-balance method of depreciation over 12 years?

1 point

Clear selection

The graphs show the future values over time of $P, invested at three different rates of compound interest. Which of the following correctly identifies each graph?

1 point

Clear selection

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