{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

MA 373 F10 Quiz 1

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

This preview shows pages 1–4. Sign up to view the full content.

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.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
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?
3. Robin is earning a simple interest rate of 10% per year. Anne is earning a compound interest

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

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 ....
View Full Document

{[ snackBarMessage ]}