1 of 3 Foundations of Mathematics 110 Week 12 Assignment: Financial Basics & Purchasing Options You may use formulas or the TVM Solver for calculations. Round all answers for financial values to the nearest hundredth. Please note that an incorrect answer with no work shown will receive a mark of zero, so show all work. If using a calculator or the online TVM Solver, include a table showing your calculator input (N, I, PV, PMT, FV, P/Y, C/Y, as applicable). PART A: Vocabulary and Review of Basics 1. Match each variable on the right with what it represents in the formulas: A = P(1+rt) and A = P(1+i)" future value or amount present value or principal number of years or term in years annual interest rate number of compounding periods interest rate per compounding period 2. Working with Percent: Determine each amount. a) 2.1% of $380 c) 0.29% of $2000 a) i b) n c) t d) A e) P f) r b) 12.3% of $950 d) 1.7% of $160 (18) (6) (4 marks) 3. Simple Interest: An investment earned 3% simple interest for 8 years. At its maturity, it w? How much interest did it earn? (4 marks)

You may use formulas or the TVM Solver for calculations. Round all answers for financial values to the nearest hundredth. Please note that an incorrect answer with no work shown will receive a mark of zero, so show all work. If using a calculator or the online TVM Solver, include a table showing your calculator input (N, I, PV, PMT, FV, PN, CrY, as applicable). PART A: Vocabulary and Review of Basics 1. Match each variable on the right with what it represents in the formulas: A=P(1+rt)andA=P(1+i)n 2. Working with Percent: Determine each amount. a) 2.1% of $380 b) 12.3% of $950 (4 marks) c) 0.29% of $2000 d) 1.7% of $160 3. Simple Interest: An investment earned 3% simple interest for 8 years. At its maturity, it was worth $5400. What amount was invested? How much interest was earned? (4 marks) 4. Compound Interest Single Payment: $2000 was invested at 5.2%, compounded semi-annually, for 3 years. What was the investment worth at its maturity? How much interest did it earn? (4 marks)