quiz04-soln - MODEL. ANYWW; NAME: Student Number: + MA 170...

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Unformatted text preview: MODEL. ANYWW; NAME: Student Number: + MA 170 QUIZ 4 Fall 2010 1. [8 marks] To buy a summer home, Mr. and Mrs. James take out a 20-year mortgage for $135 000 ath = 7%. Payments are to be made every two weeks (so there will be 26 per year). Determine the amount of the regular payment (to the nearest cent). 16’ 1 ~ - .07 r'; MUCH ft/‘L‘ gala (J +L = 6" ’2: Cl c: 1.0%.; _1=_0014M'wx.... ncaoxza=610¢ K A WW" : Mama- 6) 1 _...————-—"‘ : ,___.__——fi.———-——~ Lansimw Amt» 1* w i L9 K9 Q [oh/.A/kzv? YouranswertoQ1:_$ 1173:“) 2. [8 marks] Wilfrid Laurier University will name its soccer field after you if you donate enough money to cover maintenance. Maintenance costs are expected to be $10 000 each year from 2011 to 2014 and $15 000 per year starting in 2015. Each year’s maintenance contract will be purchased on January 1. You want to make your donation on January 1, 2011. If money in WLU’s endowment account earns j1 = 6%, how large will your donation have to be? to to to it? In; a- . km“ my“, LA a so” flu“; l “gm—7 €1.06 an! W”- “(3 “W 1”” his a",qu . I T A1 [0000 + Para/1‘ MW «()3 )awra/MG ‘42,:va 2m?) ( HY; 14PM w» 4 slavery/J)» mm, x H. 1 210mm + F iii/(5+LB‘S C C, ‘ “)4 «6.584414 Cloudu f [Ma/.6) + Z§77%3,77g§<0, 7 2 “‘ " Maw,“ @ C3; \ Your answer to Q2; _$M Note: Total mark will be recorded out of 15. . 4 New We (mm + Wiv’un) t a} - , 19m» { or Iowa + Iowa.) A + ’___ H a) ’3’)! 0‘ M 0 DE L Avvfu/ E/c’ / NAME: Student Number: 0 MA 170 QUIZ 4 Fall 2010 1. [8 marks] To buy a summer home, Mr. and Mrs. Jones take out a 15—year mortgage for $110 000 at j2 = 9%. Payments are to be made every two weeks (so there will be 26 per year). Determine the amount of the regular payment (to the nearest cent). 1 . i 24 r q "(a V“ (and 'Vke'h‘fi QAV’P (1M) 5 (1 Jr 9. Z ""4 - ovg3‘i/és"--- Q9 a C: Law; ,. m: (97‘16 2 gq‘b (U K A A, Houou : gogkcrmz.- a I ,HH’UL— ' 7,707. l 6 /fi\ (‘9 o 0 1V 0;. (on NL’V 7 Your answer to Q1: _$_;(_78°q—3_ 2. [8 marks] Wilfrid Laurier University will name its soccer field after you if you donate enough money to cover maintenance. Maintenance costs are expected to be $8 000 each year from 2011 to 2014 and $14 000 per year starting in 2015. Each year’s maintenance contract will be purchased on January 1. You want to make your donation on January 1, 2011. If money in WLU’s endowment account earns j1 = 6%, how large will your donation have to be? 3 '9 ', _ a . euvtrf-X‘DJI QLF‘C SUJXIX-RA '1 you “‘1‘ hrs 20‘“ 14/6; \L A:- 23001; i— fA/Mwi‘) “1 (good L- 9011 4' ( ‘f? (it) 1— 7V4rur7¢ujj V 50w fa‘afifiwwlfi‘k I+L A, 5 7; 5 ‘ 0': ' '4 6 1:55 W/ “9 (9 Your answer to Q2: _$ 2 2 “77‘? ‘5. 26 Note: Total mark will be recorded out of 15. . ‘~ [‘1an . ’3 A(‘K9\c7(\rt ‘0‘”)3000 Ant + (it) 30004 3700003 + ""....—,"""((M)3 1 c ...
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quiz04-soln - MODEL. ANYWW; NAME: Student Number: + MA 170...

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