Further Maths practice exam questions help

[Travishobo]

Could anyone please help me with these two finance questions, I want to double-check with someone else to see if I am wrong or if the exam report answer is wrong. Thanks

Sarah invested $8000 at 4.6% per annum with interest compounding quarterly. After interest is paid at the end of each quarter, Rebecca adds $500 to her investment. The value of her investment at the end of the third quarter, after the $500 has been added is closest to:
a. $9776.00 (I got this answer)
b. $15571.00 (exam report answer)
c. $21500.39
d. $15071.00
e. $11119.90

A loan of $500000 is taken out to purchase a house. The loan is to be repaid fully over twenty years with monthly payments of $3727.87. Interest is calculated monthly on the reducing balance. The annual interest rate for this loan is closest to:
a. 13.8%
b. 24.2% (exam report answer)
c. 0.5%
d. 6.5% (my answer)
e.7.0%

[Lear]

I got the same for both. I don’t know where we are going wrong either

[MAGGOT]

Me too

[Lear]

May be wrong answer or we are all missing something. Practice exams are known to at times be erroneous.

[MAGGOT]

Op which exam is it and what year is it btw?

[PopcornTime]

Could anyone please help me with these two finance questions, I want to double-check with someone else to see if I am wrong or if the exam report answer is wrong. Thanks

Sarah invested $8000 at 4.6% per annum with interest compounding quarterly. After interest is paid at the end of each quarter, Rebecca adds $500 to her investment. The value of her investment at the end of the third quarter, after the $500 has been added is closest to:
a. $9776.00 (I got this answer)
b. $15571.00 (exam report answer)
c. $21500.39
d. $15071.00
e. $11119.90

A loan of $500000 is taken out to purchase a house. The loan is to be repaid fully over twenty years with monthly payments of $3727.87. Interest is calculated monthly on the reducing balance. The annual interest rate for this loan is closest to:
a. 13.8%
b. 24.2% (exam report answer)
c. 0.5%
d. 6.5% (my answer)
e.7.0%

Part 1
N=12
I=4.6
Pv = -8000
Pmt=-500
Fv = 15571
Ppy/cpy=4

This is what the method must have been to get b) as the answer. So they might have assumed it was 3rd year/12th quarter. So your answer is all g.

[Travishobo]

These questions are from Engage B Practice Exam 1. Thanks to everyone who checked the answers!