MA 373 F10 Quiz 1

MA 373 F10 Quiz 1 - rate of 5%. Calculate the year in which...

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Quiz 1 Math 373 September 2, 2010 1. Ryan invests 1200 at a simple interest rate of 5%. Lena invests X at a compound interest rate of 10%. At the end of 10 years, Ryan and Lena each have the same amount. Calculate X.
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2. Candace grandfather has promised to pay her 10,000 at the end of 5 years. How much must her grandfather invest now at 8.5% compound interest in order to make the payment in 5 years?
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3. Robin is earning a simple interest rate of 10% per year. Anne is earning a compound interest
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Unformatted text preview: rate of 5%. Calculate the year in which Robin and Anne will earning the same effective interest rate. Remember that the symbol for the effective interest rate is n i . 4. Dan had 1000 in an account at the end of 2005. During 2006 and 2007, Dan earned an annual effective interest rate of 8%. During 2008, Dan earned an annual effective interest rate of 4%. During 2009, Dan earned an annual effective interest rate of i . At the end of 2009, Dan had 1280 in his account. Calculate i ....
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MA 373 F10 Quiz 1 - rate of 5%. Calculate the year in which...

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