Question 1
An investor deposits $8,500 into a fixed deposit account earning 4.2% per annum simple interest for 3.5 years. Calculate the total interest earned.
Correct Answer:
$$1,249.50
Question 2
A principal of $12,000 is invested at an interest rate of 6.0% p.a. compounded quarterly for 2 years. What is the final value of the investment rounded to the nearest cent?
Correct Answer:
$$13,517.91
Question 3
A bank offers a nominal interest rate of 7.2% per annum compounded monthly. What is the effective annual interest rate (EAR) rounded to two decimal places?
Correct Answer:
7.44%
Question 4
A delivery van purchased for $45,000 depreciates by $4,200 each year using flat rate (prime cost) depreciation. What is its book value after 6 years?
Correct Answer:
$$19,800
Question 5
Industrial machinery costing $80,000 depreciates at a reducing balance rate of 15% per annum. Calculate the value of the machinery at the end of 4 years, rounded to the nearest dollar.
Correct Answer:
$$41,760
Question 1
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About this Exam

Prepare with the TASC General Mathematics Level 3 Practice Questions - Tasmanian Assessment, Standards and Certification General Mathematics Level 3 (MTG315123) Exam practice quiz. This question bank includes 100 questions covering calculate, interest, rate, years, and rounded. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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TASC General Mathematics Level 3 Practice Questions - Tasmanian Assessment, Standards and Certification General Mathematics Level 3 (MTG315123) Exam

This practice set contains 100 questions from the matching question bank and focuses on calculate, interest, rate, years, and rounded. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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