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$5.00 Mathematics of Finance
- From Mathematics: General-Mathematics
- Closed, but you can still post tutorials
- Due on Jul. 05, 2009
- Asked on Jul 02, 2009 at 3:39:21PM
Q:1. Find the value.
A) 33.003
B) 40.472
C) 29.361
D) 26.019
2. Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.
$500 for 298 days; money earns 6%
A) $471.70
B) $476.73
C) $23.35
D) $476.65
3. Find the compound amount for the deposit. Round to the nearest cent.
$300 at 7% compounded quarterly for 2 years
A) $310.59
B) $343.47
C) $342.00
D) $344.66
4. Find the actual interest rate paid, to the nearest tenth, on the simple discount note.
$1000; discount rate 7.8%; length of loan 6 mo
A) 10.1%
B) 9.1%
C) 7.1%
D) 8.1%
5. Find the interest. Round to the nearest cent.
$1980 at 15% for 5 years
A) Interest = $726.00
B) Interest = $54.00
C) Interest = $163.35
D) Interest = $1633.50
6. Find the future value of the annuity due.
$1500 deposited at the beginning of each year for at 9% compounded annually
A) $32,930.08
B) $45,377.75
C) $28,711.08
D) $24,840.44
7. Find the value.
A) 53.5005
B) 12.5611
C) 13.7535
D) 13.1661
8. Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary.
$3200 at 13% for 151 days
A) $17.45
B) $172.10
C) $17.21
D) $174.49
9. Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated.
R = $900, i = 7% interest compounded semiannually for
A) $23,637.33
B) $23,721.46
C) $25,451.71
D) $51,166.00
10. Find the compound amount for the deposit. Round to the nearest cent.
$1050 at 12% compounded annually for 18 years
A) $8074.46
B) $3192.00
C) $3318.00
D) $7209.34
11. Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.
$7100 at 5% compounded quarterly for 10 yr
A) $2780.27
B) $11,669.70
C) $4319.73
D) $4358.78
12. Find the compound interest earned by the deposit. Round to the nearest cent.
$3590 at 12% compounded semiannually for 8 years
A) $5298.71
B) $3446.40
C) $2131.91
D) $5529.86
13. Find the actual interest rate paid, to the nearest tenth, on the simple discount note.
$36,000; discount rate 6.0%; length of loan 4 mo
A) 5.1%
B) 8.1%
C) 6.1%
D) 7.1%
14. Find the sum of the first five terms of the geometric sequence.
a = , r = 2
A)
B) 93
C) 5
D)
15. Find the value.
A) 31.276
B) 29.168
C) 33.465
D) 57.592
16. Find the payment necessary to amortize the loan.
$1000; 9% compounded semiannually; payments
A) $137.57
B) $126.38
C) $155.82
D) $126.24
17. Find the indicated term of the geometric sequence.
a = 2, r = 2; Find the 13th term.
A) 4096
B) 32,768
C) 8192
D) 16,384
18. Find the periodic payment that will render the sum.
S = $26,000, interest is 18% compounded monthly, payments made at the end of each month for
A) $549.96
B) $7278.02
C) $692.62
D) $576.30
19. Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.
$700 for 9 months; money earns 6%
A) $673.08
B) $669.86
C) $660.38
D) $30.14
20. Find the effective rate corresponding to the given nominal rate. Round results to the nearest 0.01 percentage points.
9% compounded monthly
A) 1.81%
B) 9.38%
C) 9.31%
D) 9.20%
21. Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary.
A loan of $76,000 at 11% made on Feb 29 and due on June 30
A) $2879.56
B) $2771.40
C) $2840.11
D) $2809.89
22. Find the proceeds. Assume 365 days in a year. Round to the nearest cent.
$3310; discount rate 14%;
length of loan 164 days
A) $2846.60
B) $3101.79
C) $208.21
D) $3103.06
23. Find the value.
A) 25.783
B) 24.297
C) 74.297
D) 22.841
24. Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.
$12,400 at 12.6% compounded continuously for 6 yr
A) $5822.31
B) $25,168.77
C) $4582.31
D) $26,408.77
25. Find the value.
A) 15.026
B) 16.627
C) 18.292
D) 41.627
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QUESTIONS.docx (145K)
