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judahblumbergs judahblumbergs
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Posts: 364
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5 years ago
Multiply; round off monetary products to the nearest cent. Do not round off the non-monetary products.
 a. 5.95  0.025 b. 45.83  21.6 c. 470.028  0.0906

Q. 2

Joseph Patrik will deposit enough money today so that his account will contain 30,00 . in 15 years. The account will pay interest at 12 compounded semiannually. Compute the interest (in dollars) that Patrik will earn during the 15 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Q. 3

Multiply; round off monetary products to the nearest cent. Do not round off the non-monetary products.
 a. 31.402  6.55 b. 15.375  600 c. 16.54  3.93

Q. 4

Harold Lau will deposit enough money today so that his account will contain 20,00 . in 10 years. The account will pay interest at 8 compounded semiannually. Compute the interest (in dollars) that Harold will earn during the 10 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Q. 5

Multiply; round off monetary products to the nearest cent. Do not round off the non-monetary products.
 a. 46.82  14.1 b. 0.625  0.25 c. 427.79  8.7

Q. 6

Compute the present value in each of the following problems. Use Tables 16-1A&B or 16-2A&B or a calculator.
 a. How much must you invest today at 12 compounded monthly to have 10,00 . in 2 years?
 
  b. Compute the amount that you must deposit today into an account that pays 5 compounded quarterly to have 15,00 . in 5 years.
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bbbbkiugoufiufgbbbbkiugoufiufg
wrote...
#1
Posts: 243
Rep: 2 0
5 years ago
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Ans. #1

a. 0.14875
b. 989.93
c. 42.5845368

Ans. #2

0.12  2 = 0.06; 2  15 = 30; 30,00 .  0.17411 = 5,223.30;
30,00 . - 5,223.30= 24,776.70 interest

Ans. #3

a. 205.6831
b. 9,225
c. 65.0022

Ans. #4

0.08  2 = 0.04; 2  10 = 20; 20,00 .  0.45639 = 9,127.80;
20,00 . - 9,127.80 = 10,872.20 interest

Ans. #5

a. 660.16
b. 0.15625
c. 3,721.77

Ans. #6

a. 0.12  12 = 0.01; 12  2 = 24; 10,00 .  0.78757 = 7,875.70 invest today
b. 0.05  4 = 0.0125; 4  5 = 20; 15,00 .  0.78001= 11,700.15 deposit today
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