a. If Helen deposits $4,000 today into a new savings account with an annual interest rate of

6%, what will be the balance of the account in 7 years from today (show the factor value)?

(b) What is the present value of $3,000 to be received in 7 years from today if the annual

interest (discount) rate is 8% (show the factor value)?

(c) A3. Mrs. Smith has just borrowed $12,000 today from a local bank at a 7% annual interest

rate and the loan must be paid back through 6 equal end-of-year payments over the next 6

years. What will be the amount of the yearly payment (show the factor value)?

d) If the demand function is Q = A 2 P, where A is equal to your number for this course

according to your last name, derive the total revenue (TR) function and marginal revenue

(MR) function

remember your number, check any of your quizzes, problem sets or class exercises):