Investing Your Money
Investment guidelines and restrictions for term deposits, savings accounts and share market (task 1 and task 2) are:
1) The term of your investment is to be 2 years.
2) The amount of money invested must be $6000
3) You must provide calculations for:
i) Westpac Bank Account,
ii) Westpac Bank term account interest, and
iii) Share investment growth, using National Australia Bank shares.
iv) Westpac Bank loan interest rates and values.
A - What is the Westpac reward saver bank account interest rate for a deposit of $6000 using the printout provided?
B – What is the current bank account using this website?
2) How much would you have at the end of 2 years in a term deposit account offered by Westpac for a deposit of $6000?
3) Using the graph provided estimate the value of the National Australia Bank (NAB) shares in;
A- July 2007: $37.00
B- July 2009: $23.70
1. You deposit $6,000 into a Westpac reward saver account and don’t withdraw any money for two years. What will the balance of the account be after two years using simple interest?
- 4.60 ÷ 100 x 6000 = $6276
2. A) Using your answer from task 1 Q3a, how many NAB shares could you have bought for $6000 (round to the nearest share) in 2007?
- 6000 ÷ 37 = 162 shares
B) What was the total value of those shares at 13 July 2012 prices?
3. A) state fees associated with investment
|Fees for Reward Savers account |Amount |
|Online banking withdrawal |$2.50 |...