CHECKPOINT

4: WEEK 7

DEADLINE: 3 MAY 2023, 12 NOON

1. How long will it take for a sum of money to

quadruple at 10% compounded semi-annually?

2. At what rate compounded monthly will RM2000

become RM4000 in 4 years?

3. How long did it take to have RM5,500 in the

account after 4 years? Assuming you invested
RM500 today at 3.6% compounded semi-annually.

4. At what interest rate compounded quarterly will
RM15,000 become RM19,500 in 2 years 3 months?

5. A debt of RM4400 due in two years and another

RM7700 due in seven years will be settled by
making a single payment four years from today.
Using the fifth year as the focal date, find the
settlement amount is money is worth 5%
compounded quarterly.

6. Siti borrows RM30,000 today at an interest rate of

8% compounded quarterly. She will pay RM8000 a
year from today, RM12,000 two years from today,
and the balance X, 3 years from today. Find X.