Question
For an investment of $6000.00 at 2% interest for 3 years find the amount of compound interest you would earn if the interest is calculated
For an investment of $6000.00 at 2% interest for 3 years find the amount of compound interest you would earn if the interest is calculated quarterly.
2. A group of students in MATH 105 start a walking program. The chart below shows each members self-reported walking time in minutes during May 2022.
X - 300 | C - 400 | F 60 |
A - 325 | D - 900 | G 600 |
B - 550 | E - 150 | H - 250 |
By what percent did X exceed or fall below the mean?
3. In a survey of 200 high school students, 86 use Facebook, 68 use Instagram, and 29 use both. How many of the students surveyed use neither Facebook nor Instagram?
4. At a local animal shelter there are 3 Siamese cats, 3 German Shepherds, 9 Labrador Retrievers, and 2 mixed-breed dogs. If you choose 2 animals randomly, what is the probability that both will be labs?
5. A store is offering 2 fixed installment loan options for purchases over $3000.00:
Option 1: 20% down payment and financing at 6% simple interest per year for 3 years.
Option 2: no down payment and financing at 6.35% simple interest for 4 years.
If your purchase amounts to $4400.00 -
a. Which option will result in smaller total finance charge? What will that total finance charge be?
b. Which option will result in the smaller monthly payment? What will that monthly payment be?
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