A) B) Answer C) D) 1. What is the simple interest for a principal of $620 invested at a rate of 7% for 3 years? $173.60 $130.20 $172.60 $129.20 A) B) C) Answer D) E) 2. If you borrow $1100 for 5 years at 14% annual simple interest‚ how much must you repay at the end of the 5 years? $770.00 $2215.13 $2117.96 $77‚000 $1870.00 A)Answer B) C) D) 3. How much interest is earned in 5 years on $2‚900 deposited in an account paying 7.1% interest‚ compounded quarterly? $1‚223.07 $1‚186.44
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commencing at age 60 and ending at age 67 Plan 1: V0 * (1.06)42 = 3‚000‚000 V0 = 3‚000‚000/(1.06)42 V0 = $259‚582.20 Plan 2: V0 * (1.06)17 = 3‚000‚000 V0 = 3‚000‚000/(1.06)17 V0 = $1‚114‚093.26 Plan 3: C * Annuity Compound Factor (6%‚ 37) = 3‚000‚000 C * [((1.06)37 – 1)/0.06] = 3‚000‚000 C *127.27 = 3‚000‚000 C = $23‚572.28 Plan 4: C * Annuity Compounding Factor (6%‚17) = 3‚000‚000 C * 28.21 = 3‚000‚000 C = $106‚334.41 Plan 5: C * Annuity
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the subject lines. Multiple Choice: True/False (5-2) Compounding 1. F J Answer: aEASY Starting to invest early for retirement increases the benefits of compound interest. a. True b. False (5-2) Compounding 2. F J Answer: bEASY Starting to invest early for retirement reduces the benefits of compound interest. a. True b. False (5-2) Compounding 3. F J Answer: aEASY A time line is meaningful even if all cash flows do not occur annually. a. True b. False
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Chapter 5‚ 6 Review 1. You invested $1‚650 in an account that pays 5 percent simple interest. How much more could you have earned over a 20-year period if the interest had compounded annually? A. $849.22 B. $930.11 C. $982.19 D. $1‚021.15 E. $1‚077.94 2. Today‚ you earn a salary of $36‚000. What will be your annual salary twelve years from now if you earn annual raises of 3.6 percent? A. $55‚032.54 B. $57‚414.06 C. $58‚235.24 D. $59‚122.08 E. $59‚360.45 3. You hope to buy your dream
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Transformation of Sentences Simple - Complex – Compound (Rules‚ Examples and Practice) Conversion of simple sentences into complex A simple sentence may be converted into a complex sentence by expanding a word or phrase into a subordinate noun clause‚ adjective clause or adverb clause. *By expanding a noun/noun phrase /adverb etc. into a noun clause 1. He admitted his mistake -------------- He admitted that he had made a mistake. 2
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Entire Review Problems Cumulative- Practice 1. At a certain car wash‚ 40 more cars than vans go through on a typical day. If each car pays $12 and each van pays $16 and the total earned per day is $2244‚ find the number of vans that go through the wash. 2. a) In the Fine Company‚ the CEO must invest in 30% more shares than the CFO. The shares sell for $10.20 each and the total value of the shares owned by the two of them is $132 549. Find the number of shares owned by the CEO.
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There will be as much space on the graph between 0.1 inch and 1 inch as there is between 100 inches and 1000 inches‚ because log(0.1) = -1 log(1) = 0 log(100) = 2 log(1000) = 3 So the graph will be much easier to read. Logarithms are used in a lot of places to scale numbers when there’s a big range between the smallest and the largest numbers of interest‚ which makes them easier to talk about. y=yi x e^-kt where: y - different between temprature of body and the constant temp
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Differences Between Ionic and Covalent Compounds Abstract In chemistry‚ a compound is a substance formed from two or more elements‚ with a fixed ratio determining the composition. A defining characteristic of a compound is that it has a chemical formula. Formulas describe the ratio of numbers of atoms in a substance. Compounds may have a number of possible phases. For a compound to be a liquid or a gas and still be called a compound‚ atoms from the various elements must be stuck together in
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Interest groups are often described as chaotic in comparison to political parties. The major difference between both groups is that each interest group advocates for one particular cause while political parties are balancing many issues at the same time. That is the reason why political parties can be described as “coalitions of interest groups” (196). Interest groups alone are actually more focused because each member is automatically for or against a particular cause. If not‚ switching interest
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Tony Robbins introduces these chapters by continuing to talk about and develop in our minds the potential of compound interest. He gave some great examples that showcase how such a little amount of money can blossom into more money than you could have ever imagined. In the first chapter Tony Robbins really drive home the incredible value on committing to a percentage of money that you will set aside every time you receive a paycheck. He stressed the importance of setting this percentage aside
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