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Unformatted text preview: llutant. (ii) Is it possible, according to this function, to remove all the pollutant? (iii) Graph the function. 31. Graph y = 2x . Choose the correct graph. 32. Graph the function f (x) = 6 − 4−x . 33. Solve for x: e − 3x = ( e 8 ) 2− x . x is
(A) less than 2 (B) between 2 and 3 (D) between 4 and 5 (C) between 3 and 4 (E) more than 5 34. Leigh Jacks plans to invest $500 into a money market account. Find the interest rate that is needed
for the money to grow to $1200 in 14 years if the interest is compounded quarterly.
The interest rate is
(A) less than 2% (B) between 2% and 3% (D) between 4% and 5% (E) more than 5% (C) between 3% and 4% 35. Find the interest earned on $25,000 invested for 3 years at 4% interest compounded as follows.
(i) Annually: (ii) Monthly: (iii) Continuously: 36. Use natural logarithms to evaluate log6 50 to the nearest thousandth. 37. Solve for x:
3x = 26.
x is
(A) less than 2 (B) between 2 and 3 (D) between 4 and 5 (C) between 3 and 4 (E) more than 5 38. May Klingman invests $15,000 in an account paying 3% per year, compounded quarterly. How many
years are required for the compound amount to at least double?
(A) less than 5 years (B) between 5 and 10 years (D) between 15 and 20 years (E) more than 20 years (C) between 10 and 15 years 39. What is the diﬀerence between stated interest rate and eﬀective rate? Choose the correct answer below.
(A) The stated interest rate is the rate used to calculate future value based on the present value. The
eﬀective interest rate is the rate used to calculate present value based on future value.
(B) The stated interest rate is the percentage per compounding period. The eﬀective interest rate is
the stated interest rate multiplied by the number of compounding periods.
(C) The stated interest rate is the annual interest rate before adjusting for compounding. The eﬀective
interest rate is the actual percentage increase after compounding.
(D) The stated interest rate is the annual yield. The eﬀective interest rate is the yield from continuous
compounding. 40. Find the eﬀective rate corresponding to a nominal rate of 9% compounded continuously.
The eﬀective rate is
(A) less than 8.9% (B) between 8.9% and 9.1% (D) between 9.3% and 9.5% (E) more than 9.5% (C) between 9.1% and 9.3% 41. Find the eﬀective rate corresponding to a nominal rate of 5.3% compounded quarterly.
The eﬀective rate is
(A) less than 5.3% (B) between 5.3% and 5.5% (D) between 5.7% and 5.9% (C) between 5.5% and 5.7% (E) more than 5.9% 42. Frank Steek must make a balloon payment of $20,000 in 4 years. Find the present value of the payment
if it includes annual interest of 6.5% compounded monthly.
The present value is
(A) less than $10,000 (B) between $10,000 and $15,000 (C) between $15,000 and $20,000 (D) between $20,000 and $25,000 (E) more than $25,000 43. Southwest Dry Cleaners believes that it will need new equipment in 9 years. The equipment will cost
$26,000. What lump sum should be invested today at 8% compounded continuously, to yield $26,000?
The lump sum is
(A) less than $10,000 (B) between $10,000 and $15,000 (C) between...
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This note was uploaded on 01/14/2014 for the course MATH 116 taught by Professor Jess during the Fall '09 term at University of Arizona Tucson.
 Fall '09
 JESS
 Calculus, Slope

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