An annuity is set up in order to pay out 15,000 every year for the next 20
years. Find the present value of the annuity if the annual interest rate is 3%
compounded annually.
M=1
R=.03
T=20
PMT=15,000
1 (1+ .03/1) 1*20

15,000
.03/1
.4463

15,000
.03/1
A company with manufacturing plants in Michigan and Florida
have laborhour and wage requirements for the manufacture of 2
inexpensive calculators as given in matrices M and N below:
Fabricating
M= [ 0.35 hr
[0.55 hr
LaborHours per calculator
Assembly
Pa
Evaluate the logarithm
a. log2 (220)
2y = 220
y = 20
b. log5 45
5y =45
y=
Solve the equation and round your answer to the two decimal places
1.03750.15t = 3
.15t * log (1.0375) = log (3)
 log (1.0375) log (1.0375)
.15t = 29.84226
 .15 .15
t = 198.9
Karl borrows $2,000 from his cousin to pay for an emergency dental procedure. He
promises to pay her the money back plus interest at a rate of 1.5% per year. Using simple
interest, answer the following.
a. How much interest will Karl owe his cousin after
Perform the indicted row operations on the matrix
[ 2 12 18]
[5 2
10] 1/2 R1 R1
[ 1 6 9]
[5 2
10]
[1
[3
[1
[0
3
10
4]
3]
3R1 + R2 R2
3
19
4]
9 ]
Write a system of equations for the problem. DO NOT
SOLVE.
A mining company currently operates at 2 si
Suppose that you decide to buy a new couch from a retailer offering a
payment plan (that is, a loan). The plan charges 15.99% interest per year,
compounded monthly. Currently you still owe 1,500. The minimum payment
required each month is $25.
a. Making o
Write the objective function with constraints for the following problem.
A toy company manufactures 3 types of model cars: a sports car, a police
car, and a fire engine. There are 3 aspects vital in the production of each
model car: creating plastic piece
A family buys a house for 130,000. The family can afford to make a down
payment of 3% of the purchase price. The remainder is financed using a 30
year mortgage with an interest rate of 4.2% compounded monthly.
a. How much is initially borrowed to pay for