MAT112 Chapter 4 Quick Review

What does RM250 indicate?

"At the end of every three months, Zul deposited RM250 in an account that pays interest at the rate of 6% compounded quarterly."

• P

• S

• A

• R

What is the value of t?

"Nurin has to pay RM150.27 at the end of each month for five and a half years to settle a loan. If the interest rate is 9% compounded monthly, find the value of the loan."

• 5

• 5.5

• 9

• 12

What is the value of m?

"RM2,000 was deposited at the end of every three months. If interest rate is at 8% compounded quarterly, find the value of this investment at the end of 4 years."

• 3

• 4

• 8

• 0.08

What is the value of t?

"Jack invested RM5,000 in an account that earned interest at the rate of 9% compounded monthly. Four years later, he started his 3 years Diploma program at a college. Find the accumulated amount in his account when he started his Diploma programme."

• 3

• 4

• 7

• 9

What does the question wants?

"An equal payment of RM150 is deposited at the end of each quarter for one year at an interest rate of 4% compounded quarterly. What is the future value of this annuity at the end of the investment period?"

• R

• A

• S

• t

What does the question wants?

"Ali agree to pay RM200 every month for 15 years to settle a loan that charged interest at 3% compounded monthly. Find the initial amount of the loan."

• R

• A

• S

• P

What is the value of A?

"Rashid bought a brand new car for RM100,000. He paid RM20,000 down payment and the balance was borrowed from a bank that charged interest at the rate of 6% compounded monthly."

• RM 20,000

• RM 80,000

• RM 100,000

• RM 120,000

What is the value of t?

"Hani deposited RM357 at the end of every 6 months for 10 years in a savings account that paid interest at the rate of 8% compounded semi-annually."

• 2

• 5

• 6

• 10

What is the value of m?

"Duan took a loan from BIZ finance that charged interest of 4% compounded every two months. He has to pay RM1000 every two months for 8 years to settle the loan."

• 2

• 4

• 6

• 8

What is the value of t?

"Arif made a loan of RM50,000 from a bank that charged 9% compounded monthly to pay for a house. He paid RM800 monthly for 8 years to settle the loan. He wished to settle the balance of the loan immediately after paying the last payment on the fifth year."

• 3

• 5

• 8

• 9