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. 2Joseph 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. 3Multiply; 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. 4Harold 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. 5Multiply; 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. 6Compute 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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