Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that your father is now 55 years old and plans to retire after 5 years from now. He is expected to live for another

Assume that your father is now 55 years old and plans to retire after 5 years from now.

He is expected to live for another 15 years after retirement. He wants a fixed retirement

income of Rs. 1,00,000 per annum. His retirement income will begin the day he retires,

5 years from today, and then he will get 14 additional payments annually. He expects to

earn a return on his savings @ 10% p.a., annually compounding. How much (to the

nearest of rupee) must your father save today to meet his retirement goal?

2.If an object moves along the y-axis (marked in feet) so that its position at time x (in seconds) is given by f(x)=182x14x2, find the following.

(A) The instantaneous velocity function v=f(x)

(B) The velocity when x=0 and x=2 sec

(C) The time(s) when v=0

3.The total cost(in dollars) of producing x food processors is C(x)=2200+60x0.4x^2.

(A) Find the exact cost of producing the 51st food processor.

(B) Use the marginal cost to approximate the cost of producing the 51st food processor.

4.Recently, a certain bank offered a 10-year CD that earns 14.15% compounded continuously.

(a) If $50,000 is invested in this CD, how much will it be worth in 10 years?

5.Recently, a certain bank offered a 10-year CD that earns 11.1% compounded continuously.

Use the given information to answer the questions.

(a) If $20,000 is invested in this CD, how much will it be worth in 10 years?

approximately $

6.The total cost (in dollars) of producing x food processors is C(x)=2500+70x0.1x^2.

(A) Find the exact cost of producing the 71st food processor.

(B) Use the marginal cost to approximate the cost of producing the 71st food processor.

7.A loan of $1000 at an annual rate of 5.5% compounded monthly is being paid in installments of $52.44 every month.

How many payments will be required to pay the loan completely?

8.A good friend of yours received $4000 from his Grandparents when he finished grade 10. He wants to invest it for two years and then use it to travel when he finishes grade 12.

If he invests his money at 3.75% compounded weekly, how much money will he have for his travels?

9.Calculate how much interest you would earn if you invested $15 000 in a GIC that paid 3.1% compounded

10.calculate how many months it would take an investment to double if the interest rate paid was 8%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Performance, Risk And Firm Financing

Authors: P. Molyneux

1st Edition

0230313353, 9780230313354

More Books

Students also viewed these Accounting questions

Question

In bargaining, does it really matter who makes the first offer?

Answered: 1 week ago