Hw10 - d. Accumulated amount with simple interest e....

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Math 1313 Homework 10 Section 5.1 1 Answer questions 1 and 2 for problem number 4 from the book. 1. What is the value of t? a. 8 b. 10 c. 4/5 d. 2/3 e. 12 f. None of the above. 2. What is the accumulated amount? a. $9,264 b. $1,256 c. $1,150 d. $1,872 e. $2,000 f. None of the above. 3. The choices for problem number 6 from the book are given below a. $4,650 b. $3,229 c. $2,976 d. $2,067 e. $517 f. None of the above 4. The choices for problem number 10 from the book are given below a. 8% b. 12% c. 6.25% d. 3% e. 1% f. None of the above. Answer questions 5 – 8 for following problem. The parents of a child have just come into a large inheritance and wish to establish a trust fund for her college education. If they estimate that they will need $100,000 in 13 years, how much should they set aside in the trust now if they can invest the money at 8.5%/year compounded annually? 5. Identify the type problem. a. Present Value with compound interest b. Future Value with compound interest c. Simple Interest
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Unformatted text preview: d. Accumulated amount with simple interest e. Present Value with simple interest f. None of the above. Math 1313 Homework 10 Section 5.1 2 6. How much money will he receive if the interest is compounded annually? a. $34,626.88 b. $55,982.22 c. $45,000.00 d. $60,214.66 e. $50,338.34 f. None of the above. 7. How much money will he receive if the interest is compounded semiannually? a. $55,789.33 b. $52,773.32 c. $33,886.16 d. $60,000.00 e. $59,308.30 f. None of the above. 8. How much money will he receive if the interest is compounded quarterly? a. $53,357.25 b. $33,506.76 c. $44,000.00 d. $62,000.00 e. $57,800.30 f. None of the above. Answer questions 9 and 10 for problem number 42 from the book. 9. Find the effective rate semiannually. a. 9.3807% b. 9.0000% c. 9.3083% d. 9.2025% e. 9.1506% f. None of the above 10. Find the effective rate monthly. a. 9.3807% b. 9.0000% c. 9.3083% d. 9.2025% e. 9.1506% f. None of the above...
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This note was uploaded on 09/15/2010 for the course MATH Math 1313 taught by Professor Abdelnourahmed-zaid during the Fall '10 term at University of Houston.

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Hw10 - d. Accumulated amount with simple interest e....

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