Y12 Financial Maths Quiz
1 An arithmetic sequence is given by 4, 13, 22, 31, ….
a) Find the 25th term of the sequence.
b) Find the sum to the 25th term of the sequence.
2 Given that 4, 𝑥, 𝑦,
32
are four consecutive terms of a geometric series. Solve for 𝑥 and 𝑦.
27
3 76
By writing as a geometric series, use the limiting sum formula to show that = 99
4 Kim invests $500 at the beginning of each year in a superannuation fund. The money earns 12% interest
per annum. If she starts the fund at the beginning of 1996, what will the fund be worth at the end of 2025?
5 Kate earns $24 600 p.a. In the following year she received a pay increase of $800. Each year after that,
she receives a pay increase of $800.
a) What percentage increase did Kate receive in the first year?
b) What will be Kate’s salary after 12 years?
c) What will Kate’s total earnings be over the 12 years?
6 In 1976, 500 students entered for a particular examination. This number increased each year by 20
percent of the number who entered the previous year. Calculate
a) The number who entered in 1981
b) The total number who entered between 1976 and 1981 inclusive.
7 The value of a motor car when new is $8000. Its value depreciates each year by 15 percent of its value at
the beginning of that year. After how many years will its value be $4000?
8 A man contributes towards providing a pension a sum of $500 annually on each of his 44 birthdays from
his 21st to his 64th inclusive. Find the accumulated value of these 44 contributions on his 65th birthday,
assuming that the money is invested at 10 percent per annum compound interest.
9 Find a number which, when added to 2, 6, 13 gives three numbers in geometric sequence.
10 The sum of the first 4 terms of a geometric series is 30, and the sum of the infinite series is 32. Find the
first three terms.
11 The sum of the first 8 terms of a geometric series is 17 times the sum of its first 4 terms. Find the
common ratio.
12 The first term of an arithmetic sequence is 5. The ratio of the sum of the first four terms to the sum of the
first ten terms is 8:35. Find the common difference.
13 For a potato race, points A, B, C, D, … are marked along a straight line such that the space between
each consecutive point is 2 metres. A basket is placed at the start point A, and a potato at each point
after (B, C, D, …). A runner has to start from A and bring each potato by a separate journey back to a
basket at A. Find the number of potatoes so that the total distance run during the race will be 480 metres.
14 A married couple borrows $50000 in order to purchase a house. They agree to repay the loan in equal
quarterly instalments for 12 years. What is the amount of each instalment, if interest is charged at the rate
of 10 percent per annum on any money owing?
15 The table gives the contribution per period for an annuity with a future value of $1 at different interest
rates and different periods of time.
Use the table to answer the following questions.
15 a) Barbie and Ken need to save $100000 over 3 years for a deposit on a new house. They make
regular quarterly contributions into an investment account which pays interest at 4% p.a. How
much do they need to contribute each quarter to reach this savings goal?
b) Danh is starting a superannuation fund. He wishes to have $1,000,000 in the account after 12
years. Interest is 3% p.a. If he makes a deposit to this account every six months, how much
should he deposit, rounded to the next dollar, to be sure he reaches the goal?
16 The lengths of the sides of a right-angled triangle form the terms of an arithmetic sequence. If the
hypotenuse is 15 cm in length, what is the length of the other two sides?
17 Find the sum of all integers between 200 and 400 that are divisible by 6.
18 Kim borrows $10000 over 3 years at a rate of 1% compounded each month. If she pays off the loan in
three equal annual instalments, find
a) The amount Kim owes after one month.
b) The amount she owes after the first year, just before she pays the first instalment.
c) The amount of each instalment.
d) The total amount of interest Kim pays.
