Exam 3: The Mathematics of Finance

$10,000 is deposited in a money market account when interest is compounded every month at an annual rate of 6%. Find the total amount accumulated at the end of 5 years. Round your answer to the nearest cent.

(Multiple Choice)

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Question 81

Find the simple interest on a $2,000 investment made for 5 years at an interest rate of 5% per year. What is the future value ?

(Multiple Choice)

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Question 82

Did Apple's stock undergo simple interest increase in the period December, 1997, through March, 2000 (Give a reason for your answer.) Month Dec. 1997 Aug. 1999 Mar. 2000 May 2000 Aug. 2000 Dec. 2000 Monthly Price 3.27 16.31 33.95 21 30.37 7.44 Month Jan. 2002 Mar. 2003 Oct. 2003 Nov. 2004 Feb. 2005 Aug. 2005 Monthly Price 12.36 7.07 11.44 33.53 44.86 45.74 $Did Apple's stock undergo simple interest increase in the period December, 1997, through March, 2000 (Give a reason for your answer.) \begin{array} { | l | l | l | l | l | l | l | } \hline \text { Month } & \text { Dec. } 1997 & \text { Aug. } 1999 & \text { Mar. } 2000 & \text { May 2000 } & \text { Aug. } 2000 & \text { Dec. } 2000 \\ \hline \begin{array} { l } \text { Monthly } \\ \text { Price } \end{array} & 3.27 & 16.31 & 33.95 & 21 & 30.37 & 7.44 \\ \hline \text { Month } & \text { Jan. } 2002 & \text { Mar. } 2003 & \text { Oct. } 2003 & \text { Nov. 2004 } & \text { Feb. 2005 } & \text { Aug. } 2005 \\ \hline \begin{array} { l } \text { Monthly } \\ \text { Price } \end{array} & 12.36 & 7.07 & 11.44 & 33.53 & 44.86 & 45.74 \\ \hline \end{array} A = 3.27 , B = 33.95$ $A = 3.27$ , $B = 33.95$

(Essay)

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Question 83

Determine the amount of money, to the nearest dollar, you must invest now at 5% per year compounded annually, so that you will be a millionaire in 50 years.

(Multiple Choice)

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Question 84

Calculate, to the nearest cent, the future value of an investment of $22,000 at 6% per year, compounded monthly, after 12 years. FV = $__________

(Short Answer)

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Question 85

Find the amount accumulated in the increasing annuity of $100 deposited monthly for 10 years at 8% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

(Short Answer)

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Question 86

Find the amount accumulated in the increasing annuity in which $150 is deposited monthly for 20 years at 4% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

(Short Answer)

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Question 87

Determine the periodic payment for a loan of $25,000 borrowed at 8% for 5 years, with monthly payments. Round your answer to the nearest cent. $__________

(Short Answer)

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Question 88

Find the periodic withdrawal for an annuity of $140,000 at 5%, paid out monthly for 17 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

(Multiple Choice)

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Question 89

Inflation has been running 3% per year. A car now costs $29,000. How much would it have cost 9 years ago Round your answer to the nearest cent. The car will have cost __________ 9 years ago.

(Short Answer)

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Question 90

Calculate, to the nearest cent, the future value of an investment of $28,000 at 10.45% per year, compounded monthly, after 14 years.

(Multiple Choice)

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Question 91

Find the effective annual interest rate of 17% compounded monthly.

(Multiple Choice)

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Question 92

A $8,200 loan, taken now, with a simple interest rate of 5% per year, will require a total payment of $10,660. When will the loan mature ?

(Multiple Choice)

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Question 93

Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.

(Multiple Choice)

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Question 94

Find the amount accumulated in the increasing annuity of $150 deposited monthly for 15 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

(Multiple Choice)

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Question 95

Calculate the future value of an investment of $5,000 at 0.8% per year, compounded monthly, after 8 years. Round your answer to the nearest cent.

(Multiple Choice)

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Question 96

During a prolonged recession, property values on Long Island depreciated by 8% every six months. If my house cost $200,000 originally, how much was it worth 5 years later Round your answer to the nearest cent. ?

(Multiple Choice)

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Question 97

Find the amount accumulated in the increasing annuity of $2,500 deposited quarterly for 10 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

(Multiple Choice)

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Question 98

Find the effective annual interest rate of 10% per year compounded annually, semiannually, quarterly, and monthly. Round the answers to 0.01%. nominal rate compound annually $r _ { \text {eff } } =$ __________ % per year nominal rate compound semiannually $r _ { \text {eff } } =$ __________ % per year nominal rate compound quarterly $r _ { \text {eff } } =$ __________ % per year nominal rate compound monthly $r _ { \text {eff } } =$ __________ % per year

(Short Answer)

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Question 99

Determine the selling price, per $1,000 maturity value, of a 10-year, 4.885% bond, with a yield of 4.890%. (Assume twice-yearly interest payments.) Round your answer to the nearest cent.

(Multiple Choice)

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Question 100

Showing 81 - 100 of 137

$10,000 is deposited in a money market account when interest is compounded every month at an annual rate of 6%. Find the total amount accumulated at the end of 5 years. Round your answer to the nearest cent.

Find the simple interest on a $2,000 investment made for 5 years at an interest rate of 5% per year. What is the future value ?

Determine the amount of money, to the nearest dollar, you must invest now at 5% per year compounded annually, so that you will be a millionaire in 50 years.

Calculate, to the nearest cent, the future value of an investment of $22,000 at 6% per year, compounded monthly, after 12 years. FV = $__________

Find the amount accumulated in the increasing annuity of $100 deposited monthly for 10 years at 8% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

Find the amount accumulated in the increasing annuity in which $150 is deposited monthly for 20 years at 4% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

Determine the periodic payment for a loan of $25,000 borrowed at 8% for 5 years, with monthly payments. Round your answer to the nearest cent. $__________

Find the periodic withdrawal for an annuity of $140,000 at 5%, paid out monthly for 17 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Inflation has been running 3% per year. A car now costs $29,000. How much would it have cost 9 years ago Round your answer to the nearest cent. The car will have cost __________ 9 years ago.

Calculate, to the nearest cent, the future value of an investment of $28,000 at 10.45% per year, compounded monthly, after 14 years.

Find the effective annual interest rate of 17% compounded monthly.

A $8,200 loan, taken now, with a simple interest rate of 5% per year, will require a total payment of $10,660. When will the loan mature ?

Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.

Find the amount accumulated in the increasing annuity of $150 deposited monthly for 15 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Calculate the future value of an investment of $5,000 at 0.8% per year, compounded monthly, after 8 years. Round your answer to the nearest cent.

During a prolonged recession, property values on Long Island depreciated by 8% every six months. If my house cost $200,000 originally, how much was it worth 5 years later Round your answer to the nearest cent. ?

Find the amount accumulated in the increasing annuity of $2,500 deposited quarterly for 10 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Determine the selling price, per $1,000 maturity value, of a 10-year, 4.885% bond, with a yield of 4.890%. (Assume twice-yearly interest payments.) Round your answer to the nearest cent.

Functions and Applications

Nonlinear Functions and Models

Systems of Linear Equations and Matrices

Matrix Algebra and Applications

Linear Programming

Sets and Counting

Probability

Random Variables and Statistics

Introduction to the Derivative

Techniques of Differentiation

Applications of the Derivative

The Integral

Further Integration Techniques and Applications of the Integral

Functions of Several Variables

Trigonometric Models

Filters

Exam 3: The Mathematics of Finance

$10,000 is deposited in a money market account when interest is compounded every month at an annual rate of 6%. Find the total amount accumulated at the end of 5 years. Round your answer to the nearest cent. ​

Find the simple interest on a $2,000 investment made for 5 years at an interest rate of 5% per year. What is the future value ?

Determine the amount of money, to the nearest dollar, you must invest now at 5% per year compounded annually, so that you will be a millionaire in 50 years.

Calculate, to the nearest cent, the future value of an investment of $22,000 at 6% per year, compounded monthly, after 12 years. ​ ​FV​ = $__________

Find the amount accumulated in the increasing annuity of $100 deposited monthly for 10 years at 8% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​ $__________

Find the amount accumulated in the increasing annuity in which $150 is deposited monthly for 20 years at 4% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​ $__________

Determine the periodic payment for a loan of $25,000 borrowed at 8% for 5 years, with monthly payments. Round your answer to the nearest cent. ​ $__________

Find the periodic withdrawal for an annuity of $140,000 at 5%, paid out monthly for 17 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Inflation has been running 3% per year. A car now costs $29,000. How much would it have cost 9 years ago Round your answer to the nearest cent. The car will have cost __________ 9 years ago.

Calculate, to the nearest cent, the future value of an investment of $28,000 at 10.45% per year, compounded monthly, after 14 years.

Find the effective annual interest rate of 17% compounded monthly. ​

A $8,200 loan, taken now, with a simple interest rate of 5% per year, will require a total payment of $10,660. When will the loan mature ?

Calculate, to the nearest cent, the present value of an investment that will be worth $16,000 after 7 years, at 7.4% compounded quarterly.

Find the amount accumulated in the increasing annuity of $150 deposited monthly for 15 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​

Calculate the future value of an investment of $5,000 at 0.8% per year, compounded monthly, after 8 years. Round your answer to the nearest cent. ​

During a prolonged recession, property values on Long Island depreciated by 8% every six months. If my house cost $200,000 originally, how much was it worth 5 years later Round your answer to the nearest cent. ?

Find the amount accumulated in the increasing annuity of $2,500 deposited quarterly for 10 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​

Determine the selling price, per $1,000 maturity value, of a 10-year, 4.885% bond, with a yield of 4.890%. (Assume twice-yearly interest payments.) Round your answer to the nearest cent. ​

Functions and Applications

Nonlinear Functions and Models

Systems of Linear Equations and Matrices

Matrix Algebra and Applications

Linear Programming

Sets and Counting

Probability

Random Variables and Statistics

Introduction to the Derivative

Techniques of Differentiation

Applications of the Derivative

The Integral

Further Integration Techniques and Applications of the Integral

Functions of Several Variables

Trigonometric Models

Filters

$10,000 is deposited in a money market account when interest is compounded every month at an annual rate of 6%. Find the total amount accumulated at the end of 5 years. Round your answer to the nearest cent.

Calculate, to the nearest cent, the future value of an investment of $22,000 at 6% per year, compounded monthly, after 12 years. FV = $__________

Find the amount accumulated in the increasing annuity of $100 deposited monthly for 10 years at 8% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

Find the amount accumulated in the increasing annuity in which $150 is deposited monthly for 20 years at 4% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. $__________

Determine the periodic payment for a loan of $25,000 borrowed at 8% for 5 years, with monthly payments. Round your answer to the nearest cent. $__________

Find the effective annual interest rate of 17% compounded monthly.

Find the amount accumulated in the increasing annuity of $150 deposited monthly for 15 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Calculate the future value of an investment of $5,000 at 0.8% per year, compounded monthly, after 8 years. Round your answer to the nearest cent.

Find the amount accumulated in the increasing annuity of $2,500 deposited quarterly for 10 years at 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

Determine the selling price, per $1,000 maturity value, of a 10-year, 4.885% bond, with a yield of 4.890%. (Assume twice-yearly interest payments.) Round your answer to the nearest cent.