1.	A 5.8% discounted loan is to be repaid in monthly installments over two years. The total amount borrowed was $1200. How much is the monthly payment? 	

2.	A 5.8% add-on loan is to be repaid in monthly installments over two years. The total amount borrowed was $1200. How much is the monthly payment? 	

3.	A 6.2% discounted loan is to be repaid in monthly installments over two years. The total amount borrowed was $600. How much is the monthly payment? 	

4.	A 6.2% add-on loan is to be repaid in monthly installments over two years. The total amount borrowed was $600. How much is the monthly payment? 	

5.	A 7% add-on loan is to be repaid in monthly installments over ten years. The total amount borrowed was $5000. How much is the monthly payment? 	

6.	A 10.4% discounted loan is to be repaid in monthly installments over ten years. The total amount borrowed was $29,000. How much is the monthly payment? 	

7.	A 10.4% add-on loan is to be repaid in monthly installments over ten years. The total amount borrowed was $29,000. How much is the monthly payment? 	

8.	A 7.6% discounted loan is to be repaid in monthly installments over eight years. The total amount borrowed was $23,000. How much is the monthly payment? 	

9.	A 7.6% add-on loan is to be repaid in monthly installments over eight years. The total amount borrowed was $23,000. How much is the monthly payment? 	

10.	An 11.2% discounted loan is to be repaid in monthly installments over five years. The total amount borrowed was $1000. How much is the monthly payment? 	

11.	An 11.2% add-on loan is to be repaid in monthly installments over five years. The total amount borrowed was $1000. How much is the monthly payment? 	

12.	Mitch wants to borrow $12,000 to start a small business. He has found a bank that offers a 5% discounted loan is to be repaid in monthly installments over ten years. How much should he borrow to get $12,000 at the start of the loan? 	

13.	Bill takes out a conventional loan to purchase a car. The interest rate is 5.2% compounded monthly and Bill has ten years to repay the $15,000 he borrowed. What are Bill's monthly payments? 	

14.	David takes out a conventional loan to purchase a car. The interest rate is 4.8% compounded quarterly and David has four years to repay the $8000 he borrowed. What are David's quarterly payments? 	

15.	Seshu wants to borrow $28,000 to start a small business. He has found a bank that offers a 9.2% discounted loan is to be repaid in monthly installments over eight years. How much should he borrow to get $28,000 at the start of the loan? 	

16.	Yvette takes out a conventional loan to purchase a car. The interest rate is 6.2% compounded monthly and Yvette has five years to repay the $9600 she borrowed. What are Yvette's monthly payments? 	

17.	How much would you have to invest each month in an annuity earning 6% monthly to earn $50,000 at the end of 30 years? 	

18.	How much would you have to invest each quarter in an annuity earning 5% quarterly to earn $5000 at the end of five years? 	

19.	Find the future value of an annuity with weekly deposits of $12, made over a period of five years, with 3.8% interest compounded weekly. 	

20.	You invest $325 each quarter into an annuity earning 9% each quarter. How much do you have at the end of ten years? 	

21.	How much would you have to invest each month in an annuity earning 4.9% monthly to earn $35,000 at the end of 20 years? 	

22.	How much would you have to invest each quarter in an annuity earning 5.4% quarterly to earn $8000 at the end of ten years? 	

23.	Find the future value of an annuity with weekly deposits of $50, made over a period of four years, with 6.8% interest compounded weekly. 	

24.	You invest $100 each quarter into an annuity earning 8% each quarter. How much do you have at the end of 30 years? 	

25.	You invest $20 each month into an annuity earning 9.2% each month. How much do you have at the end of 15 years?	

26.	Which is a more favorable savings rate:  4.5% compounded monthly or 4.6% compounded annually?	

27.	Which is a more favorable savings rate:  3.5% compounded monthly or 3.6% compounded annually?	

28.	Which is a more favorable savings rate:  3.5% compounded monthly or 3.55% compounded quarterly?	

29.	Which is a more favorable savings rate:  4.5% compounded monthly or 4.52% compounded quarterly?	

30.	Which is a more favorable savings rate:  6% compounded monthly or 6.05% compounded quarterly?	

Answer Key

1.	$50.00	
2.	$55.80	
3.	$25.00	
4.	$28.10	
5.	$70.83	
6.	$241.67	
7.	$493.00	
8.	$239.58	
9.	$385.25	
10.	$16.67	
11.	$26.00	
12.	$24,000	
13.	$160.57	
14.	$552.52	
15.	$106,060.60	
16.	$186.49	
17.	$49.78	
18.	$221.60	
19.	$3434.72	
20.	$20,730.51	
21.	$35,000	
22.	$152.15	
23.	$11,942.94	
24.	$48,825.82	
25.	$7706.18	
26.	4.6% compounded annually.  4.5% compounded monthly is equivalent to 4.594% compounded annually.	
27.	3.6% compounded annually.  3.5% compounded monthly is equivalent to 3.5567% compounded annually.	
28.	3.55% compounded quarterly	
29.	4.52% compounded quarterly	
30.	6.05% compounded quarterly