SUBJECT: Quantitative Methods for Business and Finance. Course Symbol: MAT 128

Please answer the questions below.

NOTE: I SUBMITTED THESE QUESTIONS YESTERDAY. HOWEVER, SOME OF THE ANSWERS PROVIDED TO THESE QUESTIONS ARE WRONG/INCORRECT. PLEASE REWORK THESE PROBLEMS AND PROVIDE THE CORRECT ANSWERS. THANK YOU

Incorrect Question 3 0 / 1 pts Swampscott has a meals tax of 7%. If the total charge for a meal (including tax) is $14.99, what did the meal itself cost? Be sure to include the units and type your answer accurate to two decimal places. $14.00Question 4 1 / 1 pts Suppose that you invested $4,000 in a CD on January 1, 2015 maturing in 5 years that pays interest of 3% per year compounded monthly and credited at the end of each month. You don't withdraw any money from the CD during its term. (a) How much money was in the CD account on February 1, 2015? $4010 Incorrect Question 5 0 / 1 pts 4 (b) How much money was in the CD account on March 1, 2015? $4020.025Question 6 1 / 1 pts 4 (c) How much money will be in the CD account on January 1, 2020? $4646.46 Incorrect Question 7 0 / 1 pts 4 (d) What is the total amount of interest paid on the CD during these 5 years? 646.47Incorrect Question 8 0 / 1 pts 4 (e) What is the effective annual rate of interest on this CD? Your answer should be accurate to four significant figures, and expressed as a percentage. This means that if you obtain 0.045678, you should type 4.568% 3.0415% Incorrect Question 9 0 / 1 pts 4 (f) After how many months will the amount of money in the CD account first be $4,400 or greater? This means that if you think the money in the CD account will first be $4,400 or greater on March 1, 2015, you should type 2 2 W PIncorrect Question 10 0 / 1 pts Carbon-14 decays continuously at a rate of 12.1% per 1000 years. An artifact had 20 grams of carbon-14 when it was made on January 1, 2018. 5 (a) How many grams of carbon-14 will the artifact have left on January 1. 2518? 18.751grams Question 11 1 / 1 pts 5 (b) In what year will the artifact have 15 grams of carbon-14 left? 4,396Incorrect Question 12 0 / 2 pts Suppose the population of a town was 40,000 on January 1, 2010 and was 50,000 on January 1, 2015. Let P(t) be the population of the town in thousands of people t years after January 1, 2010. 6 (a) Build an exponential model (in the form P(t) = a bt ) that relates P(t) and t. Round the value of b to 5 significant figures. a = 40000 b= 1.04564Question 13 1 / 1 pts 6 (b) Write the exponential model in the form P(t) = a ekt. According to this model, what is the growth rate of the population? Your answer should be accurate to four significant figures, and expressed as a percentage. This means that if you obtain k=0.045678, you should type 4.568% 4.463% Question 14 1 / 1 pts 6 (c) Use the model to estimate the town's population (to the nearest integer) on January 1, 2040. 152,588Incorrect Question 15 0 / 1 pts 6 (d) Estimate the year when the town's population first exceeds 120,000. 2,035 Incorrect Question 16 0 / 1 pts What would the value of an asset have to be now in order that it will grow to a value of $50,000 in 10 years if the value of the asset grows at 8% compounded continuously? 22466.45