F3T Mathematics Assessment (30 mins) Total Marks: 13

Topic: Savings and Investments, Credit and Debt Date: 13/07/23

1. Jian invests $34 000 in a fund which accumulates interest at 8.4% per annum, compounded twice a
year. If the money is left in the fund for a 6-year period, what will be its maturing value?
[2
marks]

2. What is the return on investment for the following situations?

Date Transaction units price per unit

12/2/2023 buy 3000 RM 0.25
15/3/2023 sell 2000 RM 0.29
31/12/2023 dividend 5%
27/1/2024 sell 1000 RM 0.22

[5
marks]

1
3. Madam Choo received her credit card statement for January 2018 and her outstanding balance was
RM7800. Find
(a) the minimum payment to be made.
(b) the balance shown in her February statement if she missed her payment for January after 20 days.
[4
marks]

4. Joseph obtained a car loan of RM80 000 from Hong Leong Bank with an interest rate of 4.5% on the
balance. Each month he will pay RM 1 200 and he planned to settle the loan in 9 years. Calculate the
balance of the debt after he made the fifth payment.
[5
marks]