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# quiz key 4 - Math 210—03,J< Spring 2008 j Quiz 4 W Note...

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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? 5.3L» :th M J “z. o W<05m8fmg 1+” 7:. M P: R ”/L] , 12\$ 117006933) “‘3 131.; :— [idmaf‘t] a 11;;er rm - mr (”Tyne ‘ 3:7; f2 ,5 ((05332) 7 ’75 "’- ‘” “MR ~ "It '23°°*°" i“ , W a; (HP—.12 - “(ii—537%) .. 41 0-006322% «€2.13 05 >‘ “2 (3 05833): 5—0 28012???— W; i: ,5 Ir743\$ﬂm5 42.4515 ' 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} gig-v? \$1300; ren-SZ-JGHS,M= L} tleJR: (.2 thﬁﬂéﬁ} n “AW <W> [l—U—rwymj -[1_C;+o-HS')"*J m, R: zo‘tﬁ'ﬂ” _ AMKZY—S’M 207%?5., (-0158 (732‘ [1-0 02919)] [ru— Mogazsigwﬂ O'io'ﬂﬁ’ﬁ‘i: ; R; :1‘358-03 ...
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