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Posted on Aug 26, 2024

PLEASE HELP ME WITH ALL OF THESE ILL greatley appreicate. 1) $4000 deposited at 12% interest compounded monthly will grow to $43.57022 in 20 years.

PLEASE HELP ME WITH ALL OF THESE ILL greatley appreicate. image text in transcribed

1) $4000 deposited at 12% interest compounded monthly will grow to $43.57022 in 20 years. What is 1) the I, n, P, and F for this situation? A) 12%=20;$4000;$43,570.22 B) 0.15;240:$43,570:22;$4000 C) 0.01:20;$4000:$43,570.22 D) 0.01: 240; $4000;$43,570.22 E) none of these 2) What is the compound amount after two years of $100 deposited at 10% interest compounded 2) annually? A) $121.55 B) $121 C) $112 D) $120 E) none of these 3) What is the present value of $2000 payable in five years at 6% interest compounded annually? 3) A) $1775.94 B) $1584.19 C) $1488.19 D) $1494.52 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Express percents as decimals. Round dollar amounts to the nearest cent. 4) Which would be the better investment: 10.6% interest compounded annually or 10% 4) compounded daily? MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5) Is it more profitable to receive $9000 now or $23,000 in 12 years? Assume that money can earn 8% interest compounded quarterly. 5) A) $23,000 in 12 years B) 59000 now 6) Calculate the amount after flive years if $2000 is deposited at 13% simple interest. b) A) $3754.27 B) $3684.87 C) $3300.00 D) $3791.68 E) nane of these 7) How many months are required for $1500 to grow to 51770 at 12% simple interest? 7) A) 20 B) 15 C) 18 D) 17 E) none of these 8) How many months are required for $2500 to grow to $3300 at 16% simple interest? 8) A) 22 B) 24 C) 18 D) 20 E) nane of these 9) Calculate the effective rate for 20% interest compounded semiannualty. A) 21% B) 21.5% C) 20.5% D) 20% E) none of these 10) Calculate the effective rate for 4.4% interest compounded monthly. Round to the neareat 9) hundredin of a percent. A) 4.30% B) 4,1% C) 4.49% D) 4.6% E) none of these 11) Bill needs $B000 to buy a new car in five years. How much should he deposit at the end of every 10) quarter into an account that earns 8% interest compouinded quarterly? A) $489.25 B) 5666.33 C) 5329.25 D) 3345.97 E) none of these 11) 12) Jane needs $9000 to buy a new car in four years. How much should she deposit at the end of each 12] month into an account that earns 6% interest compounded monthily? A) 516637 B) $147.00 C) $211.37 D) 5129.38 E) none of these 13) Jane needs 530,000 to buy another new car in eight years. How much should she deposit at the end 13) of each half year into an account that earns 4% interest compounded semiannually? A) $1263.36 B) $166337 C) $1609.50 D) $160.95 E) none of there? SHORT ANSWER. Write the word or phrase that best completes each statement of answers the question. Solve the problem. 14) Calculate the rent of an annuity at 4% compounded semiannually if payments are made 14) every half year and the future value after 12 years is $30,000 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 15) How much maney must you deposit now at 6% interest compounded quarterly in order to be able to withdraw 16000 at the end of each quarter for tive years? A) {68,819.53 B) $103.011.83 C) $154.517.75 D) 5138,74200 E) none of these 16) If you deposit $2000 into a fund paying 18% interest compounded manthly. how much can you 15) withdraw at the end of each month for one year? A) 5183.36 B) $153.36 C) $189.12 D) $170.48 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Solve the problem. 17) Specify i, n,R, and P for the following annuity. $36,029.38 is deposited inte an account paying 6% interest compounded monthly. At the end of each month, 5400 is withdrawn from the account for 10 years MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 18) A losn of $9000 is to be repaid with monthly payments for four years at 12% interest compounded 18) monthly. Calculate the monthly payment. A) $211.37 B) $264.38 C) $237.00 D) $147.00 E) none of these 19) A loan of $5000 is to be repaid with monthly payments for three years at 12% interest compounded 19) monthly. Calculate the monthly payment. A) $211.37 B) $265.71 C) $264.38 D) $237.00 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Solve the problem. 20) A lean of 58000 is to be repaid with monthly payments for five years at 12% interest 20) compounded monthly. Calculate the monthly payments. 21) A loan of $10,000 is to be repaid with monthly payments for five years at 6% interest 21) compounded monthly. Cakulate the monthly payment 22) A loan of $6000 is to be repaid with monthly psyments for three yoars at 12% interest 22) compounded monthly. Calculate the total amount paid. MULTIPLE CHOICE. Choose the one altemative that best completes the statement of answers the question. 23) Find the APR for a 30-year, $250.000 mortgage at 6% interest compounded monthly and two 23) discount points. A) 5.87% B) 6.25% c) 6.16% D) 6.12% 24) Find the effective mortgage rate for a 30-year, $100,000 mortgage at 6% interest compounded monthly with 2 discount points that is expecied to be kept for 5 years. A) 5.98% B) 6.48% C) 6.55% D) 6.24% Solve the problem. 25) Assume the cost of a gallon of milk is 52.50. With continuous compounding find the time it would take the cost to be 2 times as much (to the nearest tenth of a year). at an annual inflation rate of 6%. A) 11.6 years B) 0.2 years C) 4.2 years D) 0.1 years 26) In the formula N=1ek1,N is the number of items in terms of an initiat population I at a given time t and k is a growth constant equal to the percent of growth per unit time. How long will it take for the population of a cortain country to double if its annual growth rate is 5.6%7 Round to the nearest year. A) 1 year B) 5 years C) 36 years D) 12 years 27 Assume the cost of a car is $22,000. With continuous compounding in effect, find the number of years it would take to double the cost of the car at an annual inflation rate of 8.9%. Round the answer to the nearest hundreth. 20) A) 120.13 years B) 1.12 years C) 7.79 years 25) 26) 27) D) 112.35 years Find i (the rate per period) and n (the number of periods) for the annuity. 28) Semiannual deposits of $400 are made for 10 years into an annuity that pays 7% compounded semiannually. A) i=0.035;=20 B) I I=0.35; n=10 C) i=0.0175n=40 2B) D) i=0.07:=10 4 Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. 29) PMT =$7,500,i=7% interest compounded semiannually for 5 years A) $302,271,16 B) $87,985.45 C) $77.763.72 D) $140,442.43 29) Find the periodic payment that will render the sum. 30) FV=$44,000, interest is 8% compounded monthly, payments made at the end of each month for 3 30) years A) $3534.16 B) $13.025.61 C) $2318.58 D) $1085.47 Solve the problem. 31) Sammy borrowed $10,000 to purchase a new car at an annual interest rate of 11%. She is to pay it back in equal monthly payments over a 5-year period. How much total interest will be paid over the period of the loan? Round to the nearest dollar. A) $92 B) $1435 C) $3630 D) $3045 31) Find the payment necessary to amortize the loan. 32) \$12,700: 12% compounded monthly; 48 monthly payments A) $334.68 B) $329.12 C) $1530.64 D) $334.44 32) 1) $4000 deposited at 12% interest compounded monthly will grow to $43.57022 in 20 years. What is 1) the I, n, P, and F for this situation? A) 12%=20;$4000;$43,570.22 B) 0.15;240:$43,570:22;$4000 C) 0.01:20;$4000:$43,570.22 D) 0.01: 240; $4000;$43,570.22 E) none of these 2) What is the compound amount after two years of $100 deposited at 10% interest compounded 2) annually? A) $121.55 B) $121 C) $112 D) $120 E) none of these 3) What is the present value of $2000 payable in five years at 6% interest compounded annually? 3) A) $1775.94 B) $1584.19 C) $1488.19 D) $1494.52 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Express percents as decimals. Round dollar amounts to the nearest cent. 4) Which would be the better investment: 10.6% interest compounded annually or 10% 4) compounded daily? MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5) Is it more profitable to receive $9000 now or $23,000 in 12 years? Assume that money can earn 8% interest compounded quarterly. 5) A) $23,000 in 12 years B) 59000 now 6) Calculate the amount after flive years if $2000 is deposited at 13% simple interest. b) A) $3754.27 B) $3684.87 C) $3300.00 D) $3791.68 E) nane of these 7) How many months are required for $1500 to grow to 51770 at 12% simple interest? 7) A) 20 B) 15 C) 18 D) 17 E) none of these 8) How many months are required for $2500 to grow to $3300 at 16% simple interest? 8) A) 22 B) 24 C) 18 D) 20 E) nane of these 9) Calculate the effective rate for 20% interest compounded semiannualty. A) 21% B) 21.5% C) 20.5% D) 20% E) none of these 10) Calculate the effective rate for 4.4% interest compounded monthly. Round to the neareat 9) hundredin of a percent. A) 4.30% B) 4,1% C) 4.49% D) 4.6% E) none of these 11) Bill needs $B000 to buy a new car in five years. How much should he deposit at the end of every 10) quarter into an account that earns 8% interest compouinded quarterly? A) $489.25 B) 5666.33 C) 5329.25 D) 3345.97 E) none of these 11) 12) Jane needs $9000 to buy a new car in four years. How much should she deposit at the end of each 12] month into an account that earns 6% interest compounded monthily? A) 516637 B) $147.00 C) $211.37 D) 5129.38 E) none of these 13) Jane needs 530,000 to buy another new car in eight years. How much should she deposit at the end 13) of each half year into an account that earns 4% interest compounded semiannually? A) $1263.36 B) $166337 C) $1609.50 D) $160.95 E) none of there? SHORT ANSWER. Write the word or phrase that best completes each statement of answers the question. Solve the problem. 14) Calculate the rent of an annuity at 4% compounded semiannually if payments are made 14) every half year and the future value after 12 years is $30,000 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 15) How much maney must you deposit now at 6% interest compounded quarterly in order to be able to withdraw 16000 at the end of each quarter for tive years? A) {68,819.53 B) $103.011.83 C) $154.517.75 D) 5138,74200 E) none of these 16) If you deposit $2000 into a fund paying 18% interest compounded manthly. how much can you 15) withdraw at the end of each month for one year? A) 5183.36 B) $153.36 C) $189.12 D) $170.48 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Solve the problem. 17) Specify i, n,R, and P for the following annuity. $36,029.38 is deposited inte an account paying 6% interest compounded monthly. At the end of each month, 5400 is withdrawn from the account for 10 years MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 18) A losn of $9000 is to be repaid with monthly payments for four years at 12% interest compounded 18) monthly. Calculate the monthly payment. A) $211.37 B) $264.38 C) $237.00 D) $147.00 E) none of these 19) A loan of $5000 is to be repaid with monthly payments for three years at 12% interest compounded 19) monthly. Calculate the monthly payment. A) $211.37 B) $265.71 C) $264.38 D) $237.00 E) none of these SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Solve the problem. 20) A lean of 58000 is to be repaid with monthly payments for five years at 12% interest 20) compounded monthly. Calculate the monthly payments. 21) A loan of $10,000 is to be repaid with monthly payments for five years at 6% interest 21) compounded monthly. Cakulate the monthly payment 22) A loan of $6000 is to be repaid with monthly psyments for three yoars at 12% interest 22) compounded monthly. Calculate the total amount paid. MULTIPLE CHOICE. Choose the one altemative that best completes the statement of answers the question. 23) Find the APR for a 30-year, $250.000 mortgage at 6% interest compounded monthly and two 23) discount points. A) 5.87% B) 6.25% c) 6.16% D) 6.12% 24) Find the effective mortgage rate for a 30-year, $100,000 mortgage at 6% interest compounded monthly with 2 discount points that is expecied to be kept for 5 years. A) 5.98% B) 6.48% C) 6.55% D) 6.24% Solve the problem. 25) Assume the cost of a gallon of milk is 52.50. With continuous compounding find the time it would take the cost to be 2 times as much (to the nearest tenth of a year). at an annual inflation rate of 6%. A) 11.6 years B) 0.2 years C) 4.2 years D) 0.1 years 26) In the formula N=1ek1,N is the number of items in terms of an initiat population I at a given time t and k is a growth constant equal to the percent of growth per unit time. How long will it take for the population of a cortain country to double if its annual growth rate is 5.6%7 Round to the nearest year. A) 1 year B) 5 years C) 36 years D) 12 years 27 Assume the cost of a car is $22,000. With continuous compounding in effect, find the number of years it would take to double the cost of the car at an annual inflation rate of 8.9%. Round the answer to the nearest hundreth. 20) A) 120.13 years B) 1.12 years C) 7.79 years 25) 26) 27) D) 112.35 years Find i (the rate per period) and n (the number of periods) for the annuity. 28) Semiannual deposits of $400 are made for 10 years into an annuity that pays 7% compounded semiannually. A) i=0.035;=20 B) I I=0.35; n=10 C) i=0.0175n=40 2B) D) i=0.07:=10 4 Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. 29) PMT =$7,500,i=7% interest compounded semiannually for 5 years A) $302,271,16 B) $87,985.45 C) $77.763.72 D) $140,442.43 29) Find the periodic payment that will render the sum. 30) FV=$44,000, interest is 8% compounded monthly, payments made at the end of each month for 3 30) years A) $3534.16 B) $13.025.61 C) $2318.58 D) $1085.47 Solve the problem. 31) Sammy borrowed $10,000 to purchase a new car at an annual interest rate of 11%. She is to pay it back in equal monthly payments over a 5-year period. How much total interest will be paid over the period of the loan? Round to the nearest dollar. A) $92 B) $1435 C) $3630 D) $3045 31) Find the payment necessary to amortize the loan. 32) \$12,700: 12% compounded monthly; 48 monthly payments A) $334.68 B) $329.12 C) $1530.64 D) $334.44 32)