6.

Calculate the amount of moneyyou'll have at the end of the indicated timeperiod, assuming that you earn simple interest.

You deposit $3900 in an account with an annual interest of 3.1% for 20 years.

The amount of moneyyou'll have at the end of 20 years is $_____

(Type an integer or adecimal.)

7.Use the compound interest formula to compute the balance in the following account after the stated period oftime, assuming interest is compounded annually.

$15,000 invested at an APR of 4.2% for 24 years.

The balance in the account after 24 years is $____

(Round to the nearest cent asneeded.)

8.Use the appropriate compound interest formula to compute the balance in the account after the stated period of time

$10,000 is invested for 5 years with an APR of 4% and quarterly compounding.

The balance in the account after 5 years is $____

.(Round to the nearest cent asneeded.)

9.Use the appropriate compound interest formula to compute the balance in the account after the stated period of time

$15,000 is invested for 2 years with an APR of 6% and daily compounding.

The balance in the account after 2 years is $____

.

(Round to the nearest cent asneeded.)

10.Use the formula for continuous compounding to compute the balance in the account after1, 5, and 20 years.Also, find the APY for the account.

A $14,000 deposit in an account with an APR of 3.75%.

The balance in the account after 1 year is approximately $___

.(Round to the nearest cent asneeded.)

The balance in the account after 5 years is approximately $____

(Round to the nearest cent asneeded.)

The balance in the account after 20 years is approximately $__

(Round to the nearest cent asneeded.)

The APY for the account is approximately ___%

(Round to two decimal places asneeded.)

11.How long will it take money to triple at an APR of 7.3% compoundedannually?

It will take ____years to triple an amount of money earning 7.3% compounded annually.

(Round up to the nearestyear.)

12.What islogic? Briefly explain how logic can be useful.

Choose the correct answer below.

A.

Logic is a set of facts or assumptions used to support a premise. It is useful in quarrels.

B.

Logic is a deceptive argument. It is useful in marketing products and creating advertisements.

C.

Logic is the study of the methods and principles of reasoning. It can be useful in providing strong support forconclusions, and to help identify errors inreasoning, or fallacies.

D.

Logic is a common fallacy. It is useful in creating other common fallacies.

13.Consider the following example of the logical fallacy of appeal to popularity. Complete parts(a) and(b) below.

Apple's iPhone outsells all other smartphones, so it must be the best smart phone on the market.

a. What is thepremise? Choose the correct answer below.

A.

Apple's iPhone.

B.

Apple's iPhone outsells all other smart phones.

C.

Apple's iPhone is the best smart phone on the market.

D.

All other smart phones.

What is theconclusion? Choose the correct answer below.

A.

Apple's iPhone.

B.

It is the best smart phone on the market.

C.

All other smart phones.

D.

It outsells all other smart phones.

b. Briefly explain how appeal to popularity occurs in the argument. Choose the correct answer below.

A.

If you readcarefully, you'll recognize that the premise and the conclusion both say essentially the same thing.

B.

We cannot conclude that the popularity of the iPhone caused it to be the best smart phone on the market.

C.

This conclusion was drawn from an inadequate number of cases that have not been sufficiently analyzed.

D.

The fact that many people buy the iPhone does not necessarily mean it is the best smart phone on the market.

14.A woman earned wages of $36,900, received $2500 in interest from a savingsaccount, and contributed $4000 to atax-deferred retirement plan. She was entitled to a personal exemption of $3400 and had deductions totaling $5060. Find her grossincome, adjusted grossincome, and taxable income.

Her gross income was $___

. (Simplify youranswer.)

Her adjusted gross income was $____

. (Simplify youranswer.)

Her taxable income was $___

. (Simplify youranswer.)