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- Is it always possible for the cash borrowed (released) from a project tobe reinvested to yield a rate of return equal to that received from the project?The maximum amount an individual can contribute to her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the Regulations of the Income Tax Act. For the year 2020, the maximum contribution is the lesser of $27,230 or 18% of the individual’s “earned income” during 2019. What is the maximum RRSP amount that can be contributed in 2020 based on an income of $128,500 in 2019?Student Emergency Financial Services, Inc.,which makes small loans to college students, offersto lend $550. The borrower is required to pay $42 atthe end of each week for 16 weeks. Find the interestrate per week. What is the nominal interest rate peryear? What is the effective interest rate per year?
- A certain investment opportunity available to you will double your money in the next six years. You have $2,000.00 to invest, how much will you have in 12 years-assuming the interest rate is guaranteed for the time period?A college has been willed $100,000 to establish a permanent scholarship. If funds are invested at 6% and all funds earned are disbursed yearly, what will be the value of the scholarship in the sixth year of operation?A young engineer borrowed $12,000 at 10% interest and paid $3,000 per annumfor the last 4 years. What does he have to pay at the end of the fifth year in order to payoff his loan? $3.689$3,758$3,982$4.001$4.011
- Use economic equivalence to determine the amount of money or value of i that makes the following statements correct. (a) $5000 today is equivalent to $4275 exactly 1 year ago at i = ___% per year. (b) A car that costs $28,000 today will cost $____ a year from now at i = 4% per year. (c) At i = 4% per year, a car that costs $28,000 now, would have cost $____ one year ago. (d) Last year, Jackson borrowed $20,000 to buy a preowned boat. He repaid the principal of the loan plus $2750 interest after only 1 year. This year, his brother Henri borrowed $15,000 to buy a car and expects to pay it off in only 1 year plus interest of $2295. The rate that each brother paid for his loan is ___ % for Jackson and ___ % per year for Henri. (e) Last year, Sheila turned down a job that paid $75,000 per year. This year, she accepted one that pays $81,000 per year. The salaries are equivalent at i = ____% per year.8. A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment. a. 3% b. 4% c. 5% d. 8%What should be the price of a share with a constant dividend of $2.50, if the growth rate is zero and the required rate of return is 8 per cent per annum?