Quiz - 1 - Quiz I COMM 308 This quiz is due on Tuesday,...

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Quiz I COMM 308 This quiz is due on Tuesday, 29/10. Please bring it to the class. Each question carries one mark. 1. If the interest rate is 10% per year, how long would it take to double your money? A. 6.14% B. 6.93% C. 7.27% D. 8.34% 2. Your aunty has offered to gift you $5,000 after two years? How much is this worth today if the interest rate is 6% per year? A. $4,449.98 B. $4,531.36 C. $4,580.75 D. $4,608.62 3. If you make a deposit of $1,500 today in your bank and the bank offers you an interest rate of 5% per year, how much money would you have after 4 years? A. $1,800.73 B. $1,810.11 C. $1,823.26
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D. $1,898.88 4. You made a deposit of $2,500 five years ago and it now worth $3,500. What interest rate have you received over the past five years? A. 6.96% B. 6.28% C. 7.13% D. 7.66% 5. You are going to make 10 yearly deposits of $10,000 starting today . If the interest rate is 6.5%, how much do you expect to have in your account after 10 years? A. $135,881 B. $143,715 C. $154,618 D. $162,349 6. You have taken a $300,000 housing loan and the bank charges you an interest rate of 0.75% per month. The loan is to be repaid by making equal monthly payments for the
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This note was uploaded on 10/16/2010 for the course COMM Comm 308 taught by Professor Ravimateti during the Fall '09 term at Concordia Canada.

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Quiz - 1 - Quiz I COMM 308 This quiz is due on Tuesday,...

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