MATH 193-Fall 2018 Graded Assignment Three -15 Points Due: Tuesday, October 9 (beginning of class . You may complete this assignmens indivisdually or in groups of two to four people, In is expected that the work subwaitted will represent the best thinking of all of the group's members and that each person in the comelusions . Submit one eover sheet and one projeet for the group. Staple pages together . This sheet is the sover sheet and will not be graded. Do your work on separate papers. Work submitsed for grading must be neat, thorough, and well organized; folded comers and grading rubric on ID2I. for details ragged edges are not acceptable. See I am a member of this group and have shared equally in the work of this assignment. Sign name: Print name (S pts) You are short of cash and have a credit card bill of $1000 due on November first. The APR on your credit card is l 5% compounded daily. November for a $15.00 fee. Your ament friend offers to lend you sooo to the month of a) How much will you have to pay on your credit card if you carry the $1000 balance through the month of November? b) What is the APR on the loan that your friend is offering? o Would you choose to carry the $1000 balance on your credit card or get the loan from your friend? Why? 2 a) b) (5 pts) Youareborrowing $32.500 with an APRo 3.9% compounded annually for a period of four years. Calculate the total amount you will have to pay back. Calculate your total interest. If your payback plan means that you pay 48 equal payments, calculate your monthly payment. 3. (5 pts) Suppose youinvestSPina CDpaying 1.7% interest compounded continuously for a term of three years. At the end of the term you get $2630.81 from the bank. Find the value of the original principal P a) b) Find the annual percentage yield (APY) for the CD. Answer to the nearest ten-thousandths of a percent. MATH 193-Fall 2018 Graded Assignment Three -15 Points Due: Tuesday, October 9 (beginning of class . You may complete this assignmens indivisdually or in groups of two to four people, In is expected that the work subwaitted will represent the best thinking of all of the group's members and that each person in the comelusions . Submit one eover sheet and one projeet for the group. Staple pages together . This sheet is the sover sheet and will not be graded. Do your work on separate papers. Work submitsed for grading must be neat, thorough, and well organized; folded comers and grading rubric on ID2I. for details ragged edges are not acceptable. See I am a member of this group and have shared equally in the work of this assignment. Sign name: Print name (S pts) You are short of cash and have a credit card bill of $1000 due on November first. The APR on your credit card is l 5% compounded daily. November for a $15.00 fee. Your ament friend offers to lend you sooo to the month of a) How much will you have to pay on your credit card if you carry the $1000 balance through the month of November? b) What is the APR on the loan that your friend is offering? o Would you choose to carry the $1000 balance on your credit card or get the loan from your friend? Why? 2 a) b) (5 pts) Youareborrowing $32.500 with an APRo 3.9% compounded annually for a period of four years. Calculate the total amount you will have to pay back. Calculate your total interest. If your payback plan means that you pay 48 equal payments, calculate your monthly payment. 3. (5 pts) Suppose youinvestSPina CDpaying 1.7% interest compounded continuously for a term of three years. At the end of the term you get $2630.81 from the bank. Find the value of the original principal P a) b) Find the annual percentage yield (APY) for the CD. Answer to the nearest ten-thousandths of a percent