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Key Quiz 9.2
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1
Ben invested $5000 in a mutual fund that averaged 8.67% growth each year. If the fund has a 2.25% management fee, what was the value of Ben’s investment after ten years?
A)$5032.19
B)$9315.42
C)$9485.14
D)$11 483.30
2
Sebastien invested $75 000 in a mutual fund which had average 1.24% growth per year. If the fund has a 2.8% management fee, how much has the value of Sebastien’s investment fallen after 6 years?
A)$5755.87
B)$6705.64
C)$6751.85
D)$68248.15
3
Alex starts an RRSP at age 21, depositing $100 every month into an account paying 5% compounded monthly. How much will the RRSP have when he retires at age 65?
A)$4818.18
B)$19161.26
C)$53 383.96
D)$191 612.58
4
Bobbi and Daniel start an RESP for their baby boy. They deposit $20 per week into the plan, which pays 4.15% interest compounded annually. The government contributes an additional 20% to the couple’s annual contribution up to a maximum of $400 per year. How much will be in Bobbi and Daniel’s RESP after a year?
A)$1273.22
B)$1269.02
C)$1228.61
D)$1061.02
5
Amanda is 18 years old. Use the Age Balance Indicator to calculate what percentage of her investments should be in moderate- to high-risk investments.
A)72%
B)54%
C)36%
D)18%





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