Unformatted text preview: Math 210—03 ,J<
Spring 2008 j
Quiz# 4 W
Note: Show all your work to receive full credit. Score: 1'10
[5] Q1) To purchase a new computer, a woman puts $2300 on her credit card, which charges 19% interest compounded monthly. If she makes payments of $130 each month, how much time, in years, will it take her
to pay off the computer? (Show the set up, the formula to be used and round the f nal answer to 2 decimals). at Boo R: $130 rzi‘l {a ~n=12~ e: 1?
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6*; (were) ’0 W7” .:. l; we r; [5] Q2) Write out the ﬁrst two row entries for an amortization schedule for a $7300 loan at 11. 5% interest
compounded quarterly with quarterly payments for a year (Show the setup the formula to be used and round
the ﬁnal answers to 2 decimals). $12} gigv? $1300; renSZJGHS,M= L} tleJR: (.2 thﬁﬂéﬁ} n “AW <W> [l—U—rwymj [1_C;+oHS')"*J m, R: zo‘tﬁ'ﬂ” _ AMKZY—S’M 207%?5., (0158 (732‘
[10 02919)] [ru— Mogazsigwﬂ O'io'ﬂﬁ’ﬁ‘i: ; R; :1‘35803 ...
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 Winter '08
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