Reference no: EM13512158
Choose the best answer for the questions below. Answers are rounded to nearest whole dollar amount.
1. What is the simple interest earned over 6 years on a principal of $55,000 at 12% interest?
a. $39,600
b. $94,600
c. $61,600
d. $58,960
2. What is the value after 4 years if $8,700 is invested in an account that pays 9% interest compounded monthly?
a. $3,300 b.$12,453 c. $9,519
d. $279,979
3. Which of the following choices of investment yields the greatest for a deposit of $20,000 over 20 years?
a. 12% simple interest
b. 10.5% compounded quarterly
c. 11.5% compounded weekly
d. 11% compounded daily
4. What is the effectiverateofinterest for a one year loan of $3,000 given at 15% interest if the interest is compounded quarterly?
a. 15.24%
b. 15.27%
c. 15.87%
d. 15.94%
5. How much is the discount on a loan for which you agree to pay the lender $6,000 in one year at 8% interest?
a. $480
b. $5,520
c. $6,480
d. $960
6. You are due to receive 3 payments (one per year) which you can invest in an account that earns 9% interest per year. Which sequence of payments yields the greatest amount?
a. $200, $300, $250
b. $250, $100, $300
c. $400, $100, $100
d. $300, $200, $250
7. Compute the monthly loan payment required to pay off $150,000 dollars at 7% interest over 15 years. (Note: a monthly payment means the interest is compounded monthly)
a. $1,348.24
b. $427,342.01
c. $2,374.12
d. $16,084.35
Finite Math
8.How much money should be invested in an account that earns 9% interest, compounded monthly, if you want to have $500,000 after 20 years?
a.$45,600.00
b.$83,206.42
c.$41,603.21
d.$430,594.93
9.What is the value of an annuity if $250 dollars is deposited monthly for 7 years at 12% interest?
a.$1,803.38
b.$32,668.07
c.$113,527.42
d.$52,098.73
10.How much would you need to deposit if you wanted to withdrawal $750 a month for 3 years if a bank will pay 8% interest?
a.$25,000.00
b.$18,781.22
c.$23,933.85
d.$31,060.74
|
Explain the concentration of c is 0.0410 m and calculate k
: Consider the equation A(aq) + 2B(aq) ? ? 3C(aq) + 2D (aq) In one experiment, 45.0 mL of 0.050 M A is mixed with 25.0mL of 0.100 M B. At equilibrium, the concentration of C is 0.0410 M . Calculate K.
|
|
Find replacement of a minor broken part on a machine.
: Improvement to a machine that increased its fair market value and its production capacity by 30% without extending the machine's useful life.
|
|
What is the balance in prepaid insurance at year-end
: Process Company began the year with $6,500 prepaid insurance. During the year, Precare prepaid additional insurance premiums amounting to $8,000.T he company"s insurance expense for the year was $10,000. What is the balance in prepaid insurance at..
|
|
State a crystalline and a crosslinked polymer
: How would you distinguish experimentally between an amphourous, a crystalline and a crosslinked polymer
|
|
What is the simple interest earned
: What is the simple interest earned over 6 years on a principal of $55,000 at 12% interest and what is the value after 4 years if $8,700 is invested in an account that pays 9% interest compounded monthly?
|
|
Determine a solution formed by mixing 67.0 ml
: Consider a solution formed by mixing 67.0 mL of 0.100 M H2SO4, 32.0 mL of 0.100 M HOCl, 25.0 mL of 0.200 M NaOH, 25.0 mL of 0.100 M Ca(OH)2, and 10.0 mL of 0.150 M KOH. Calculate the pH of this solution.
|
|
Systematic examination of cultural artifacts
: A systematic examination of cultural artifacts or written documents to extract thematic data and draw conclusions about some aspect of social life is called ____________. According to Durkheim, periods of rapid social change produce _____, a loss o..
|
|
State the ph of the resulting hydrochloric acid
: 0.30 g of hydrogen chloride (HCl) is dissolved in water to make 4.5 L of solution. What is the ph of the resulting hydrochloric acid solution
|
|
Indicate how each of these transactions would be recorded
: Analysis of Subsequent Expenditures Accardo Resources Group has been in its plant facility for 15 years. Although the plant is quite functional, numerous repair costs are incurred to maintain it in sound working order.
|