Question 1 (a) Your brother has asked you to help him with choosing an investment. He has $6,000 to invest today for a period of two years. You identify a bank term deposit that pays an interest rate...

Extracted text: Question 1 (a) Your brother has asked you to help him with choosing an investment. He has $6,000 to invest today for a period of two years. You identify a bank term deposit that pays an interest rate of 5.55% with the interest paid quarterly. Calculate the value of the investment in two years.


Extracted text: (b) Mr. Brymo can afford $650 per month of monthly repayment towards a car loan. The current lending rate is at 12% per year and the loan maturity should be for 4 years. Calculate the amount that Mr. Brymo can borrow.