Lessons 16–20 cover investment comparison, consumer finance, savings goals, technology, and module synthesis. This final checkpoint tests your ability to integrate knowledge across the entire module. Aim for 85%+ before attempting the Module Quiz.
Its question set has not been written, so there is nothing here to attempt. Nothing you have done is lost, and the lessons either side of it are unaffected.
To test yourself on this material now, use the module quiz, which covers the same content.
Q1. Net return = gross - fees = 7% - 1.2% = 5.8%. Answer: B
Q2. After 10 years: term deposit $40{,}000(1.045)^{10} = \$62{,}119$. Managed fund $40{,}000(1.058)^{10} = \$70{,}294$. Difference $\approx \$8{,}175$. Answer: C
Q3. The hidden cost of 0% finance is the inflated purchase price. Answer: A
Q4. =PMT(0.052/12, 360, 500000) returns the monthly repayment. Answer: D
Q5. Credit cards typically have the highest interest rates (15–20%). Answer: C
Q6. $a = 50{,}000 \times 0.00333 / [(1.00333)^{60} - 1] = \$754$/month. Answer: B
Q7. Technology is for verification; HSC requires formula working. Answer: B
Q8. Offset reduces the balance on which interest is calculated. Answer: A
Q9 (3 marks): (a) Term deposit: $30{,}000(1.045)^{15} = \$58{,}058$ [1]. Managed fund: net = 5.8%, $30{,}000(1.058)^{15} = \$69{,}889$ [1]. (b) Difference $= \$11{,}830$ [1].
Q10 (3 marks): (a) $M = 20{,}000 \times 0.01666 / [1 - (1.01666)^{-24}] = \$1{,}017.84$/month [2]. (b) Total cost $= 1{,}017.84 \times 24 = \$24{,}428$ [1].
Q11 (4 marks): (a) =PMT(0.048/12, 300, 450000) returns $-\$2{,}578.49$ [1]. (b) Total interest $= 2{,}578.49 \times 300 - 450{,}000 = \$323{,}546$ [2]. (c) Extending term reduces monthly payment but dramatically increases total interest [1].
Tick when you've finished all questions and reviewed your answers.