Q1:

The following are the first two terms of a geometric sequence
2, 10
The next term is:

A. 18
B. 28
C. 12
D. 50

Answer 1:


Q2:

8 and 12 are the first term and the sum of the first two terms in a geometric series. The sum of the first three terms is: 
A. 16
B. 14
C. 18
D. 20

Answer 2:


Q3:

An investement of $1000 is in an account with an annual interest rate of 8% which is applied every 3 month (i.e. quarterly)
The formula for calculating the worth of the investment after 2 years is A = 1000(1 + k)^{n}
The value of n is

A. 3
B. 2
C. 8
D. 24

Answer 3:


Q4:

In question 3 the value of k is: 
A. 0.02
B. 0.08
C. 2/3
D. 1/150

Answer 4:


Q5:

In calculating a repayment schedule for a 25 year mortgage the calculation 1.0075^{300} appeared.
From this what annual interest rate was likely to apply to the mortgage?

A. 7.5%
B. 0.75%
C. 9%
D. 2.25%

Answer 5:

