This page must be completed and submitted with your Substantive Assignment. Incomplete or missing information WILL NOT be processed.

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1 Welcome to Math 12 Foundations This page must be completed and submitted with your Substantive Assignment. Incomplete or missing information WILL NOT be processed. NOTE: Registration forms with attached, completed Substantive Assignments and attached Residency and Citizenship documents will be processed faster! Attach the completed Substantive Assignment to your registration form. Student Information (Please print or type) LEGAL LAST NAME LEGAL FIRST NAME LEGAL MIDDLE NAME (if applicable) DATE OF BIRTH (yyyy/mm/dd) GENDER (M or F) EXPECTED COURSE COMPLETION DATE (yyyy/mm/dd) STUDENT S HOME PHONE NUMBER CELL PHONE NUMBER Are you attending another Secondary School? Yes or No (please circle) If yes, what school? Parent/Guardian Information (not applicable for a learner over 19 years of age) PARENT/GUARDIAN S LEGAL NAME PARENT/GUARDIAN S CELL PHONE NUMBER WORK PHONE NUMBER GOOD LUCK ON YOUR SUBSTANTIVE ASSIGNMENT! OFFICE USE ONLY MARK: / Instructional Feedback TEACHER: Date: Teacher Signature:

2 Instructions for Completion 1- Go to the Online Unit 1 Course Materials website (below) for an explanation on how to do these Substantive Assignment questions correctly Take notes on the video Lessons 1 & 2 using the note taking supplements. 3- Complete the practice assignments from Lessons 1 & Check the practice assignment with the answers provided. 5- Check the video solutions to the questions you did not do correctly. 6- Seek help with questions the video solutions do not fully explain to you. 7- Complete these Substantive Assignment summative questions showing all work to earn full marks for each question. 8- Seek help if you are confused with any questions. 9- When you are happy with your final product please scan and submit your Substantive Assignment with your registration package. 10-While you are waiting for your registration to be processed, please complete all the Online Unit 1 Course Materials Lessons in preparation for your Unit 1 Exam. Total = 47 % Page 2 of 10

3 Part I Definitions (9 marks Please use words from our video lessons to describe these terms or fill in the blanks) Simple Interest: Compound Interest: Principal: Interest Earned: Term: Rate: Future Value: Rate of Return: Page 3 of 10

4 Rule of 72: The greater the number of periods the greater the amount of earned. The power of compound interest is the larger the the greater the return. For compounding periods: Annually: Semi-Annually: Quarterly: Monthly: Weekly: Daily: Page 4 of 10

5 Part II Formulas (4 marks Please use the formulas found in our video lessons to describe these terms) Simple Interest: Simple Interest (same formula as above but please isolate a different variable): Compound Interest: Compound Interest (a second formula for the same term): Future Value (simple interest): Future Value (simple interest a second formula for the same term, Hint: factored form): Rate of Return: Rule of 72: Page 5 of 10

6 Part III Show all work leading to your answer. 1) Calculate how much simple interest you would earn on a $ investment if the interest rate paid was 3.2% for 3 years (2 marks) 1) 2) How many days would it take for $ to grow into $ at a simple interest rate of 15% (4 marks) 2) Page 6 of 10

7 3) Find the rate of interest if an initial 8 year investment of $ earned $ in simple interest (3 marks please round this question to two decimal places) 3) 4) How much would you have to invest to earn $ in simple interest at a rate of 4.25% for 84 months (4 marks) 4) Page 7 of 10

8 5) Calculate the rate of return on an investment where you earned $35, total on a bond that had a four year term that paid 7.85% simple interest annually (4 marks) 5) 6) Calculate the future value of an investment if you invested $ at a rate of 2.1% per year compounded annually for 15 years (3 marks) 6) Page 8 of 10

9 7) Calculate the future value of an investment if you invested $ at a rate of 6.6%per year compounded quarterly for 7 years (4 marks) 7) 8) Calculate how much interest was earned on a $ GIC paying 4.05% compounded monthly for 66 months (5 marks) 8) Page 9 of 10

10 9) Calculate how many days (to the nearest whole day) it would take for an investment to double using the rule of 72 if the interest rate was 7.5% (2 marks) 9) 10) Use the rule of 72 to determine what annual rate of interest compounded annually you would need to earn in order for an investment to double in 22 years (3 marks) 10) Page 10 of 10