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nature of mathematics

Questions and Answers of Nature Of Mathematics

Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Use a calculator to evaluate the amortization formula\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]for the values of the variables \(P, r\), and \(t\) (respectively) given in
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 21. $500 Frequency n annually Rate r 8% Time t 30 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 22. $500 Frequency annually Rate r 6% Time t 30 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 23. $250 Frequency n semiannually Rate r 8% Time t 30 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 24. $600 Frequency n semiannually Rate r 2% Time t 10 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 25. $300 Frequency n quarterly Rate r 6% Time t 30 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 26. $100 Frequency n monthly Rate r 4% Time t 5 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 27. $200 Frequency n quarterly Rate r 8% Time t 20 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 28. $400 Frequency n quarterly Rate r 11% Time t 20 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 29. $30 Frequency n monthly Rate r 8% Time t 5 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 30. $75 Frequency n monthly Rate r 4% Time t 10 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 31. $50 Frequency n monthly Rate r 8.5% Time t 20 yr
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 32. $100 Frequency n quarterly Rate r 3% Time t 20 yr
Find the monthly payment for the loans in Problems 33-44.\(\$ 500\) loan for 12 months at \(12 \%\)
Find the monthly payment for the loans in Problems 33-44.\(\$ 100\) loan for 18 months at \(18 \%\)
Find the monthly payment for the loans in Problems 33-44.\(\$ 4,560\) loan for 20 months at \(21 \%\)
Find the monthly payment for the loans in Problems 33-44.\(\$ 3,520\) loan for 30 months at \(19 \%\)
Find the monthly payment for the loans in Problems 33-44.Used-car financing of \(\$ 2,300\) for 24 months at \(15 \%\)
Find the monthly payment for the loans in Problems 33-44.New-car financing of \(2.9 \%\) on a 30 -month \(\$ 12,450\) loan
Find the monthly payment for the loans in Problems 33-44.Furniture financed at \(\$ 3,456\) for 36 months at \(23 \%\)
Find the monthly payment for the loans in Problems 33-44.A refrigerator financed for \(\$ 985\) at \(17 \%\) for 15 months\)
Find the monthly payment for the loans in Problems 33-44.A \(\$ 512,000\) home bought with a \(20 \%\) down payment and the balance financed for 30 years at \(5.1 \%\)
Find the monthly payment for the loans in Problems 33-44.A \(\$ 258,000\) condominium bought with a \(30 \%\) down payment and the balance financed for 30 years at 3.05%
Find the monthly payment for the loans in Problems 33-44.Finance \(\$ 450,000\) for a warehouse with a \(6.5 \%\) 30-year loan
Find the monthly payment for the loans in Problems 33-44.Finance \(\$ 859,000\) for an apartment complex with a \(3.2 \%\) 20-year loan
How much interest (to the nearest dollar) would be saved in Problem 41 if the home were financed for 15 rather than 30 years?Data from Problem 41A $512,000 home bought with a 20% down payment and
How much interest (to the nearest dollar) would be saved in Problem 42 if the condominium were financed for 15 rather than 30 years?
Melissa agrees to contribute \(\$ 500\) to the alumni fund at the end of each year for the next 5 years. Shannon wants to match Melissa's gift, but she wants to make a lump-sum contribution. If the
Arnie agrees to contribute \(\$ 2,500\) to the road fund at the end of each year for the next 10 years. Jack wants to match Arnie's contribution, but he wants to make a lump-sum contribution today.
A \(\$ 1,000,000\) lottery prize pays \(\$ 50,000\) per year for the next 20 years. If the current rate of return is \(2.25 \%\), what is the present value of this prize?
You look at your budget and decide that you can afford \(\$ 250\) per month for a car. What is the maximum loan you can afford if the interest rate is \(3 \%\) and you want to repay the loan in 4
Suppose you have an annuity from an insurance policy and you have the option of being paid \(\$ 250\) per month for 20 years or having a lump-sum payment of \(\$ 25,000\). Which has more value if the
An insurance policy offers you the option of being paid \(\$ 750\) per month for 20 years or a lump sum of \(\$ 100,000\). Which has more value if the current rate of return is \(5.5 \%\), compounded
I recently found a real-life advertisement in the newspaper:(Only the phone number has been changed.) Suppose that you have won a \(\$ 20,000,000\) lottery, paid in 20 annual installments. How much
The bottom notice (not circled) in the advertisement in Problem 53 states that \(\$ 6,000\) is needed for 90 days, and that the advertiser is willing to pay \(20 \%\) interest. How much would you
Suppose your gross monthly income is \(\$ 5,500\) and your current monthly payments are \(\$ 625\). If the bank will allow you to pay up to \(36 \%\) of your gross monthly income (less current
Suppose your gross monthly income is \(\$ 9,500\) and your current monthly payments are \(\$ 2,625\). If the bank will allow you to pay up to \(36 \%\) of your gross monthly income (less current
As the interest rate increases, determine whether each of the given amounts increases or decreases. Assume that all other variables remain constant.a. future valueb. present value decreasesc. annuity
As the interest rate increases, determine whether each of the given amounts increases or decreases. Assume that all other variables remain constant.a. monthly value for a sinking fundb. monthly value
Suppose your gross monthly income is \(\$ 4,550\) and your spouse's gross monthly salary is \(\$ 3,980\). Your monthly bills are \(\$ 1,235\). The home you wish to purchase costs \(\$ 535,000\) and
Suppose you want to purchase a home for \(\$ 425,000\) with a 30 -year mortgage at \(5.24 \%\) interest. Suppose also that you can put down \(25 \%\). What are the monthly payments? What is the total
What are a reasonable down payment and monthly payment for a home in your area?
What are a reasonable down payment and monthly payment for a new automobile?
Outline a procedure for identifying the type of financial formula for a given applied problem.
What is the formula for the present value of an annuity? What is the unknown?
What is the amortization formula? What is the unknown?
Classify the type of financial formula for the information given in Problems 6-11. Lump-Sum Problems P 6. known A unknown
Classify the type of financial formula for the information given in Problems 6-11. Lump-Sum Problems P A 7. unknown known
Classify the type of financial formula for the information given in Problems 6-11. Periodic Payment Problems A m known P 8. unknown
Classify the type of financial formula for the information given in Problems 6-11. 9. Periodic Payment Problems A m P unknown known
Classify the type of financial formula for the information given in Problems 6-11. 10. Periodic Payment Problems A m P known unknown
Classify the type of financial formula for the information given in Problems 6-11. Periodic Payment Problems A P 11. known m unknown
In Problems 12-15, match each formula in Column A with the type of financial problem in Column B. Column A 12. A m (1 + )". r n - Column B Annuity
In Problems 12-15, match each formula in Column A with the type of financial problem in Column B. Column A 13. P m - (1+) r 11 Column B Amortization
In Problems 12-15, match each formula in Column A with the type of financial problem in Column B. Column A 14. m = A() (1+) - 1 Column B Present value of an annuity
In Problems 12-15, match each formula in Column A with the type of financial problem in Column B. Column A 15. m = 1 P() - (1 + 2) -nt Column B Sinking fund
Classify the financial problems in Problems 16-19, and then answer each question by assuming a \(12 \%\) interest rate compounded annually.Find the value of a \(\$ 1,000\) certificate in 3 years.
Classify the financial problems in Problems 16-19, and then answer each question by assuming a \(12 \%\) interest rate compounded annually.Deposit \(\$ 300\) at the end of each year. What is the
Classify the financial problems in Problems 16-19, and then answer each question by assuming a \(12 \%\) interest rate compounded annually.An insurance policy pays \(\$ 10,000\) in 5 years. What
Classify the financial problems in Problems 16-19, and then answer each question by assuming a \(12 \%\) interest rate compounded annually.What annual deposit is necessary to give \(\$ 10,000\) in 5
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Find the value of a \(\$ 1,000\) certificate in \(2 \frac{1}{2}\) years if the interest rate is \(2 \%\) compounded
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.You deposit \(\$ 300\) at the end of each year into an account paying \(2 \%\) compounded annually. How much is in the
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.A 5-year term insurance policy has an annual premium of \(\$ 300\), and at the end of 5 years, all payments and interest
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What annual deposit is necessary to have \(\$ 10,000\) in 5 years if all the money is deposited at \(1.5 \%\) interest
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.A \(\$ 5,000,000\) apartment complex loan is to be paid off in 10 years by making 10 equal annual payments. How much is
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.The price of automobiles has increased at \(6.25 \%\) per year. How much would you expect a \(\$ 20,000\) automobile to
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.The amount to be financed on a new car is \(\$ 9,500\). The terms are \(7 \%\) for 4 years. What is the monthly payment?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What deposit today is equal to 33 annual deposits of \(\$ 500\) into an account paying \(2 \%\) compounded annually?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.If you can afford \(\$ 1,875\) for your house payments, what is the loan you can afford if the interest rate is \(4.5 \%\)
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What is the monthly payment for a home costing \(\$ 425,000\) with a \(20 \%\) down payment and the balance financed for
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Ricon Bowling Alley will need \(\$ 80,000\) in 4 years to resurface the lanes. What lump sum would be necessary today if
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Rita wants to save for a trip to Tahiti, so she puts \(\$ 200\) per day into a jar. After 1 year, she has saved \(\$ 730\)
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Karen receives a \(\$ 12,500\) inheritance that she wants to save until she retires in 20 years. If she deposits the money
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.You want to give your child a million dollars when he retires at age 65 . How much money do you need to deposit into a
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.An accounting firm agrees to purchase a computer for \(\$ 150,000\) (cash on delivery), and the delivery date is in 270
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.For 5 years, Thompson Cleaners deposits \(\$ 900\) at the end of each quarter into an account paying \(0.95 \%\)
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What is the necessary amount of monthly payments to an account paying \(1.8 \%\) compounded monthly in order to have \(\$
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Mark's Grocery Store is going to be remodeled in 5 years, and the remodeling will cost \(\$ 3,000,000\). How much should
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.If an apartment complex will need painting in \(3 \frac{1}{2}\) years and the job will cost \(\$ 145,000\), what amount
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Teal and Associates needs to borrow \(\$ 45,000\). The best loan they can find is one at \(12 \%\) that must be repaid in
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Certain Concrete Company deposits \(\$ 4,000\) at the end of each quarter into an account paying \(10 \%\) interest
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Major Magic Corporation deposits \(\$ 1,000\) at the end of each month into an account paying \(1.8 \%\) interest
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What is the future value of \(\$ 112,000\) invested for 5 years at \(14 \%\) compounded monthly?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What is the future value of \(\$ 800\) invested for 1 year at \(10 \%\) compounded daily?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.What is the future value of \(\$ 9,000\) invested for 4 years at \(20 \%\) compounded monthly?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.If \(\$ 5,000\) is compounded annually at \(5.5 \%\) for 12 years, what is the future value?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.If \(\$ 10,000\) is compounded annually at \(8 \%\) for 18 years, what is the future value?
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.You owe \(\$ 5,000\) due in 3 years, but you would like to pay the debt today. If the present interest rate is compounded
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.Sebastopol Movie Theater will need \(\$ 120,000\) in 5 years to replace the seats. What deposit should be made today in an
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.The Fair View Market must be remodeled in 3 years. It is estimated that remodeling will cost \(\$ 200,000\). How much
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.A laundromat will need seven new washing machines in \(2 \frac{1}{2}\) years for a total cost of \(\$ 2,900\). How much
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.A computerized checkout system is planned for Able's Grocery Store. The system will be delivered in 18 months at a cost of
In Problems 20-52:a. State the type; and \(\mathbf{b}\). Answer the question.A lottery offers you a choice of \(\$ 1,000,000\) per year for 20 years or a lump-sum payment. What lump-sum payment
Problems 53-55 are based on a 30-year fixed-rate home loan of \(\$ 585,500\) with an interest rate of \(3.75 \%\).What is the monthly payment?

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