Core Maths Personal Finance and Normal Distribution

An account has an annual interest rate of 3.5%. Interest is paid every 6 months. What is the value of n in the formula for AER?

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An account has an annual interest rate of 3.5%. Interest is paid every 6 months. What is the value of i in the formula for AER?

• 3.5

• 0.035

• 0.07

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An account has an interest rate of 3.5% paid every 3 months. What is the value of n in the formula for AER?

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An account has an interest rate of 3.5% paid every 3 months. What is the value of i in the formula for AER?

• 0.035

• 0.105

• 0.14

• 0.35

 $Z\sim N\left(0,1\right)$  
What is  $p\left(z<0.85\right)$  ?

• 0.80234

• 0.19766

• 0.78814

• 0.21186

 $Z\sim N\left(0,1\right)$  
What is  $p\left(z>0.32\right)$  ?

• 0.78230

• 0.38209

• 0.62552

• 0.37448

 $Z\sim N\left(0,1\right)$  
What is  $p\left(z>-1.59\right)$  ?

• 0.05592

• 0.94408

• 0.72240

• 0.27760

A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of t?

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A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of i?

• 0.9

• 0.27

• 0.09

• 0.009

A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of A?

• £3885.09

• £3027

• £3081.73

• £5700