Divide; round off monetary quotients to the nearest cent; round non-monetary quotients to four decimal places.
a. 4.4868 2.53 b. 7.52 0.45 c. 154.75 75
Q. 2Two-and-one-half years from now, Melanie Olson wants to have 8,500 in the bank. She can earn interest of 12 compounded monthly. Compute the amount that Melanie must deposit today. (Use Tables 16-1A&B or 16-2A&B or a calculator.)
Q. 3Divide; round off monetary quotients to the nearest cent; round non-monetary quotients to four decimal places.
a. 17.55 7 b. 13.115 3.28 c. 1.32 0.16
Q. 4Newton Kress plans to give his son 12,500 when his son turns 21, which will be 5 years from now. If Newton finds an investment that will pay 8 compounded semiannually, compute the amount that he must invest today to achieve his goal. (Use Tables 16-1A&B or 16-2A&B or a calculator.)
Q. 5Multiply; round off monetary products to the nearest cent. Do not round off the non-monetary products.
a. 0.625 8,000 b. 4.7807 1.309 c. 27.35 16.75
Q. 6Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided that it would be reasonable to save 50,00 . of the inheritance for wedding expenses in the event that both daughters should decide to get married in the same year. How much money will Beverly have in 4 years if she can invest the 50,00 . and get a return of 8 compounded quarterly? (Use Tables 16-1A&B or 16-2A&B or a calculator.)
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