You are the Finance Manager for Andy & Co and have received the approval to borrow $200,000 with interest rate settled @5% p.a.
Assessment Details
Qualification Code/Title
Assessment Type Assessment -1 ( Project) Time allowed
Due Date Location AHIC Term / Year
Unit of Competency
National Code/Title FNSACC303-Perform Financial Calculation
Student Details
Student Name Student ID
Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Signature: ____________________________
Date: _____/______/__________
Assessor Details
Assessor’s Name
RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I am also aware of my appeal rights.
Signature: _______________________________
Date: ______/_______/___________
Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Signature: ________________________________________
Date: ______/_______/___________
Instructions to the Candidates
? This assessment is to be completed according to the instructions given below in this document.
? Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
? If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
? Please refer to the College re-submission and re-sit policy for more information.
? If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately.
? Please read the Project carefully then complete all tasks.
? To be deemed competent for this unit you must achieve a satisfactory result with tasks of this project along with a satisfactory result for the another Assessment (Short Answer Questions)
? Answer all the questions using MS Excel Spreadsheet.
? This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor.
? This is Individual Assessments. Once you have completed the assessment, please provide the Hard copy of the Assessments to your Trainer/ Assessor and also upload copy of your Excel Spreadsheet into AHIC Moodle.
? Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark of Zero.
ASSESSMENT 1 – STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements.
Answer all the questions using MS Excel Spreadsheet. You must print the assessment for submission and also upload copy of your Excel Spreadsheet into AHIC Moodle.
Q1.
You are the Finance Manager for Andy & Co and have received the approval to borrow $200,000 with interest rate settled @5% p.a. The loan is for a period of 5 years. And to be repaid monthly. Calculate the repayment amount and total interest amount for the loan.
Q2.
Andy & Co has also got a car loan of $25,000 for 3 years with interest rate settled @8% p.a. to be compounded quarterly. Calculate the accrued amount for the loan.
Q3
As on 31st May, 2016, Andy & Co’s loan account shows a balance of $5,100. The company made the minimum monthly payment of $100 for the month of June on 1st June. Calculate the interest amount accrued for June by considering the interest rate of 6% p.a.
Q4
Using the following information of Andy & Co, calculate the Annual Break Even Point (BEP).
• Capacity of manufacturing is 2000 units per month
• Fixed Cost per month is $50,000
• Selling price per unit is $100
• Variable cost per unit is $50
Q5.
Using the information below calculate the depreciation amount per year for an equipment.
• Purchase price was $40,000.
• Salvage value is $10,000.
• Expected useful life is 5 years.
Q6.
Using simple interest method, how much interest will you pay if you borrow $20,000 for 2 years at an interest rate of 5% p.a.
Qualification Code/Title
Assessment Type Assessment -1 ( Project) Time allowed
Due Date Location AHIC Term / Year
Unit of Competency
National Code/Title FNSACC303-Perform Financial Calculation
Student Details
Student Name Student ID
Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Signature: ____________________________
Date: _____/______/__________
Assessor Details
Assessor’s Name
RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I am also aware of my appeal rights.
Signature: _______________________________
Date: ______/_______/___________
Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Signature: ________________________________________
Date: ______/_______/___________
Instructions to the Candidates
? This assessment is to be completed according to the instructions given below in this document.
? Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
? If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
? Please refer to the College re-submission and re-sit policy for more information.
? If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately.
? Please read the Project carefully then complete all tasks.
? To be deemed competent for this unit you must achieve a satisfactory result with tasks of this project along with a satisfactory result for the another Assessment (Short Answer Questions)
? Answer all the questions using MS Excel Spreadsheet.
? This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor.
? This is Individual Assessments. Once you have completed the assessment, please provide the Hard copy of the Assessments to your Trainer/ Assessor and also upload copy of your Excel Spreadsheet into AHIC Moodle.
? Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark of Zero.
ASSESSMENT 1 – STUDENT INFORMATION
This information is to be handed to each student to outline the assessment requirements.
Answer all the questions using MS Excel Spreadsheet. You must print the assessment for submission and also upload copy of your Excel Spreadsheet into AHIC Moodle.
Q1.
You are the Finance Manager for Andy & Co and have received the approval to borrow $200,000 with interest rate settled @5% p.a. The loan is for a period of 5 years. And to be repaid monthly. Calculate the repayment amount and total interest amount for the loan.
Q2.
Andy & Co has also got a car loan of $25,000 for 3 years with interest rate settled @8% p.a. to be compounded quarterly. Calculate the accrued amount for the loan.
Q3
As on 31st May, 2016, Andy & Co’s loan account shows a balance of $5,100. The company made the minimum monthly payment of $100 for the month of June on 1st June. Calculate the interest amount accrued for June by considering the interest rate of 6% p.a.
Q4
Using the following information of Andy & Co, calculate the Annual Break Even Point (BEP).
• Capacity of manufacturing is 2000 units per month
• Fixed Cost per month is $50,000
• Selling price per unit is $100
• Variable cost per unit is $50
Q5.
Using the information below calculate the depreciation amount per year for an equipment.
• Purchase price was $40,000.
• Salvage value is $10,000.
• Expected useful life is 5 years.
Q6.
Using simple interest method, how much interest will you pay if you borrow $20,000 for 2 years at an interest rate of 5% p.a.
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