Question 1

Find S :   . Round your answer to the nearest dollar. ​

Accepted Answer

A)  S = $1,666,521 
B)  S = $104,158 
C)  ​S = $8,333 
D)  S = $416,630 
E)  S = $599,280 
A)  S = $1,666,521 
B)  S = $104,158 
C)  ​S = $8,333 
D)  S = $416,630 
E)  S = $599,280

Question 2

Suppose an individual wants to have $160,000 available for her child's education. Find the amount that would have to be invested at annual rate 7%, compounded continuously, if the number of years until college is 10 years. Round your answer to the nearest cent. ​

Accepted Answer

A)  $73,508.13 
B)  $66,697.92 
C)  $79,453.65 
D)  $58,860.71 
E)  $89,285.62 
A)  $73,508.13 
B)  $66,697.92 
C)  $79,453.65 
D)  $58,860.71 
E)  $89,285.62

Question 3

How long (in years) would $700 have to be invested at an annual rate of 11%, compounded continuously, to amount to $1,376? Round your answer to two decimal places. ​

Accepted Answer

A)  7.37 years 
B)  6.76 years 
C)  7.99 year 
D)  3.69 years 
E)  6.14 years 
A)  7.37 years 
B)  6.76 years 
C)  7.99 year 
D)  3.69 years 
E)  6.14 years

Question 4

What are the next three terms in the arithmetic sequence 7, 0, -7,...? ​

Accepted Answer

A)  -14, -21, -28 
B)  14, 21, 28 
C)  -7, -14, -21 
D)  -7, 21, -28 
E)  7, 14, 28 
A)  -14, -21, -28 
B)  14, 21, 28 
C)  -7, -14, -21 
D)  -7, 21, -28 
E)  7, 14, 28

Question 5

What are d and a1 in the following arithmetic sequence? ​
5, 10, 15,...
​

Accepted Answer

A)    
B)    
C)    
D)    
E)    
A)    
B)    
C)    
D)    
E)

Question 6

A sinking fund is established to discharge a debt of $70,000 in 8 years. If deposits are made at the end of each 6-month period and interest is paid at the annual rate of 6%, compounded semiannually, what is the amount of each deposit? Round your answer to the nearest cent. ​

Accepted Answer

A)  $806.23 
B)  $1,308.65 
C)  $3,472.76 
D)  $582.57 
E)  $374.69 
A)  $806.23 
B)  $1,308.65 
C)  $3,472.76 
D)  $582.57 
E)  $374.69

Question 7

Suppose that Craig Nordstrom deposits his $11,500 bonus in an account that earns an annual rate of 7.5%, compounded quarterly, and makes additional deposits of $800 at the end of each quarter for the next 24.5 years, until he retires. How much is in the account after the last deposit is made? Round your answer to the nearest cent. ​

Accepted Answer

A)  $362,815.63 
B)  $220,793.91 
C)  $71,010.86 
D)  $149,783.06 
E)  $291,804.77 
A)  $362,815.63 
B)  $220,793.91 
C)  $71,010.86 
D)  $149,783.06 
E)  $291,804.77

Question 8

Time-share sales provide an opportunity for vacationers to own a resort condo for 1 week (or more) each year forever. The owners may use their week at their own condo or trade the week and vacation elsewhere. Timeshare vacation sales usually require payment in full or financing through the time-share company, and interest rates are usually in the 13% to 18% range. Suppose the cost to buy a 1-week time share in a 3-bedroom condo is $22,400. Also suppose a 10% down payment is required, with the balance financed for 19 years at an annual rate of 15.3%, compounded monthly. Find the monthly payment. Round your answer to the nearest cent. ​

Accepted Answer

A)  $90.73 
B)  $393.16 
C)  $151.22 
D)  $272.19 
E)  $332.67 
A)  $90.73 
B)  $393.16 
C)  $151.22 
D)  $272.19 
E)  $332.67

Question 9

A family wants to have a $160,000 college fund for their children at the end of 16 years. What contribution must be made at the end of each quarter if their investment pays an annual rate of 6.6%, compounded quarterly? Round your answer to the nearest cent. ​

Accepted Answer

A)  $976.58 
B)  $8,819.82 
C)  $3,835.83 
D)  $1,426.89 
E)  $2,211.82 
A)  $976.58 
B)  $8,819.82 
C)  $3,835.83 
D)  $1,426.89 
E)  $2,211.82

Question 10

Which table shows a correct amortization schedule for the loan described? ​
$47,000 for   years at an annual rate of 10% compounded semiannually

Accepted Answer

A)    
B)    
C)    
D)    
E)    
A)    
B)    
C)    
D)    
E)

Question 11

Decide whether the problem relates to an ordinary annuity or an annuity due. A trust will provide $11,000 to a county library at the beginning of each 3-month period for the next 3.5 years. If the money is worth an annual rate of 6.1%, compounded quarterly, find the amount in the trust when it begins. ​

Accepted Answer

A)  ordinary annuity 
B)  annuity due 
A)  ordinary annuity 
B)  annuity due

Find S : . Round your answer to the nearest dollar.

Suppose an individual wants to have $160,000 available for her child's education. Find the amount that would have to be invested at annual rate 7%, compounded continuously, if the number of years until college is 10 years. Round your answer to the nearest cent.

How long (in years) would $700 have to be invested at an annual rate of 11%, compounded continuously, to amount to $1,376? Round your answer to two decimal places.

What are the next three terms in the arithmetic sequence 7, 0, -7,...?

What are d and a₁ in the following arithmetic sequence? 5, 10, 15,...

A sinking fund is established to discharge a debt of $70,000 in 8 years. If deposits are made at the end of each 6-month period and interest is paid at the annual rate of 6%, compounded semiannually, what is the amount of each deposit? Round your answer to the nearest cent.

A family wants to have a $160,000 college fund for their children at the end of 16 years. What contribution must be made at the end of each quarter if their investment pays an annual rate of 6.6%, compounded quarterly? Round your answer to the nearest cent.

Which table shows a correct amortization schedule for the loan described? $47,000 for years at an annual rate of 10% compounded semiannually

Linear Equations and Functions

Quadratic and Other Special Functions

Matrices

Inequalities and Linear Programming

Exponential and Logarithmic Functions

Introduction to Probability

Further Topics in Probability and Data Description

Derivatives

Derivatives

Derivatives Continued

Indefinite Integrals

Definite Integrals - Techniques

A: Definite Integrals - Techniques

Functions of Two or More Variables

Algebraic Concepts 2

Algebraic Concepts 3

Algebraic Concepts 4

Algebraic Concepts 5

Filters

Exam 6: Mathematics of Finance

Find S : . Round your answer to the nearest dollar. ​

Suppose an individual wants to have $160,000 available for her child's education. Find the amount that would have to be invested at annual rate 7%, compounded continuously, if the number of years until college is 10 years. Round your answer to the nearest cent. ​

How long (in years) would $700 have to be invested at an annual rate of 11%, compounded continuously, to amount to $1,376? Round your answer to two decimal places. ​

What are the next three terms in the arithmetic sequence 7, 0, -7,...? ​

What are d and a1 in the following arithmetic sequence? ​ 5, 10, 15,... ​

A sinking fund is established to discharge a debt of $70,000 in 8 years. If deposits are made at the end of each 6-month period and interest is paid at the annual rate of 6%, compounded semiannually, what is the amount of each deposit? Round your answer to the nearest cent. ​

A family wants to have a $160,000 college fund for their children at the end of 16 years. What contribution must be made at the end of each quarter if their investment pays an annual rate of 6.6%, compounded quarterly? Round your answer to the nearest cent. ​

Which table shows a correct amortization schedule for the loan described? ​ $47,000 for years at an annual rate of 10% compounded semiannually

Linear Equations and Functions

Quadratic and Other Special Functions

Matrices

Inequalities and Linear Programming

Exponential and Logarithmic Functions

Introduction to Probability

Further Topics in Probability and Data Description

Derivatives

Derivatives

Derivatives Continued

Indefinite Integrals

Definite Integrals - Techniques

A: Definite Integrals - Techniques

Functions of Two or More Variables

Algebraic Concepts 2

Algebraic Concepts 3

Algebraic Concepts 4

Algebraic Concepts 5

Filters

Find S : . Round your answer to the nearest dollar.

Suppose an individual wants to have $160,000 available for her child's education. Find the amount that would have to be invested at annual rate 7%, compounded continuously, if the number of years until college is 10 years. Round your answer to the nearest cent.

How long (in years) would $700 have to be invested at an annual rate of 11%, compounded continuously, to amount to $1,376? Round your answer to two decimal places.

What are the next three terms in the arithmetic sequence 7, 0, -7,...?

What are d and a₁ in the following arithmetic sequence? 5, 10, 15,...

A sinking fund is established to discharge a debt of $70,000 in 8 years. If deposits are made at the end of each 6-month period and interest is paid at the annual rate of 6%, compounded semiannually, what is the amount of each deposit? Round your answer to the nearest cent.

A family wants to have a $160,000 college fund for their children at the end of 16 years. What contribution must be made at the end of each quarter if their investment pays an annual rate of 6.6%, compounded quarterly? Round your answer to the nearest cent.

Which table shows a correct amortization schedule for the loan described? $47,000 for years at an annual rate of 10% compounded semiannually