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.
Q1. Net return = gross - fees = 7% - 1.2% = 5.8%. Answer: B
Q2. After 10 years: term deposit $40,000(1.045)^{10} = $61,600. Managed fund $40,000(1.058)^{10} = $69,800. Difference = $8,200. 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 x 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} = $55{,}950$ [1]. Managed fund: net = 5.8%, $30{,}000(1.058)^{15} = $66{,}200$ [1]. (b) Difference = $10{,}250$ [1].
Q10 (3 marks): (a) $M = 20{,}000 x 0.01666 / [1 - (1.01666)^{-24}] = \\$998.58$/month [2]. (b) Total cost = $998.58 x 24 = \\$23{,}966$ [1].
Q11 (4 marks): (a) =PMT(0.048/12, 300, 450000) returns -$2,623.47 [1]. (b) Total interest = $2{,}623.47 x 300 - 450{,}000 = \\$337{,}041$ [2]. (c) Extending term reduces monthly payment but dramatically increases total interest [1].
Tick when you've finished all questions and reviewed your answers.