Mock-Ma170-Fin-F10

# Mock-Ma170-Fin-F10 - MA170 Mock Final Exam Name Time Allowed 120 minutes Total Value 100 marks Number of Pages 8 Instructions Non-programmable

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MA170 Mock Final Exam Name: Time Allowed: 120 minutes Total Value: 100 marks Number of Pages: 8 Instructions: Non-programmable, non-graphing calculators are permitted. No other aids allowed. Check that your test paper has no missing, blank, or illegible pages. Note that test questions appear on both sides of the paper. Answer in the spaces provided. 1. [6 marks ] You are investigating some options in order to have a car for your remaining three years of university. One option is to purchase a car for \$18 000 and trade it in at the end of the three years for \$5600. A second option is to lease a car at \$395 a month for the three years. If money is worth j 1 = 3 3 4 % , which option is better? 2. [5 marks ] You borrow \$1600 from a licensed small loan company and agree to pay \$160 a month for 12 months. Use linear interpolation to determine the nominal rate j 12 that the company is charging. 1

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3. [5 marks ] that is required in a fund earning j 12 = 8%
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## This note was uploaded on 03/03/2012 for the course MATH 170 taught by Professor F.vinette during the Fall '11 term at Wilfred Laurier University .

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Mock-Ma170-Fin-F10 - MA170 Mock Final Exam Name Time Allowed 120 minutes Total Value 100 marks Number of Pages 8 Instructions Non-programmable

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