Average rate of return or yield on a 6-month Government of Canada ...

[s.tung]

Question 1

You take out a demand loan on February 17th, in a non-leap year, with a local financing company. The loan is for $4500 at an interest rate of 12.15%. The interest rate rises to 12.75% on March 18th and then goes down to 12.25% on April 29th. You make partial payments of $900 on March 2nd and $1700 on May 14th. The loan is demanded in full on June 21st. What is the size of the final payment?
◦ $2043.37
◦ $2036.37
◦ $2083.37
◦ $2063.37
◦ $2116.37

Question 2

Average rate of return or yield on a 6-month Government of Canada treasury bills sold on June 18, 2013 was 1.04% (http://www.bankofcanada.ca/rates/interest-rates/t-bill-yields/). At this yield, what price was paid for a T-bill with a face value of $50 000?
◦ $49 741.35
◦ $258.65
◦ $49 740
◦ $50 260
◦ $260

[nhea]

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