View the step-by-step solution to:

Find the indicated term of the geometric sequence. a = 6, r = -6; Find the 3rd term. A) 1296 B) -1296 C) 216 D) -216 2. Solve the problem. A $7150...




9. Find the proceeds. Assume 365 days in a year. Round to the nearest cent.$459; discount rate 13%;length of loan 363 days
A) $399.66B) $399.33C) $399.82D) $59.34


12. Solve the problem.A $7150 note is signed, for 160 days, at a discount rate of 15.5%Find the proceeds.
 A) $6041.75B) $6657.44C) $7150.00D) $6664.19


14. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$69,000; money earns 2.1% compounded monthly for 1 1/3 year 
A) $2167.92B) $2098.32C) $117.21D) $4256.18
15. Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.$28,500 at 9% compounded annually for 5 yr
A) $9976.96B) $18,523.04C) $43,850.78D) $20,190.12

16. Find the periodic payment that will render the sum.S = $26,000, interest is 18% compounded monthly, payments made at the end of each month for 3 years 
A) $549.96B) $7278.02C) $692.62D) $576.30

18. Find the actual interest rate paid, to the nearest tenth, on the simple discount note.$27,000; discount rate 7%; length of loan 3 mo
A) 9.1%B) 8.1%C) 7.1%D) 6.1%
19. Solve the problem.A company has ordered 4 new personal computers at a cost of 1800each.They will not be delivered for 5 months.What amount should the firm deposit in an account paying 7.32% to have enough money to pay for them?
A) $7028.50B) $3545.92C) $6945.78D) $6986.90
20. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$91,000; money earns 6% compounded quarterly for 4 years
A) $2327.26B) $5074.62C) $2236.52D) $1059.77
21. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$90,000; money earns 7% compounded semiannually for 16 1/2 years
A) $1569.74B) $1012.23C) $1418.37D) $1491.52
22. Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.$23,749 for 107 days; money earns 8.5%
A) $577.39B) $23,176.88C) $21,888.48D) $23,171.61

24. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$8200; money earns 5% compounded annually 4payments
A) $1902.50B) $2601.11C) $337.31D) $1483.99
 


 

 
 

 
 
 
 
1. Find the indicated term of the geometric sequence. a = 6, r = -6; Find the 3 rd term. A) 1296 B) -1296 C) 216 D) -216 2. Solve the problem. A $7150 note is signed, for 160 days, at a discount rate of Find the proceeds. A) $6041.75 B) $6657.44 C) $7150.00 D) $6664.19 3. Find the future value of the annuity due. Payments of $500 made at the beginning of each year for at 7% compounded annually A) $8444.23 B) $9570.32 C) $7391.80 D) $15,587.08 4. Find the compound amount for the deposit. Round to the nearest cent. $14,000 at 4% compounded semiannually for 5 years A) $16,800.00 B) $15,457.13 C) $17,065.92 D) $17,033.14 5. Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = $1000, i = 0.06, n = 11
Background image of page 1
A) $13,180.79 B) $14,971.64 C) $31,638.31 D) $2984.75 6. Find the value. A) 53.5005 B) 12.5611 C) 13.7535 D) 13.1661 7. Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary. $3200 at 13% for 151 days A) $17.45 B) $172.10 C) $17.21 D) $174.49 8. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. $85,000; money earns 3.1% compounded monthly for A) $208.00 B) $2019.84 C) $2074.35 D) $4146.64 9. Find the lump sum deposited today that will yield the same total amount as this yearly payment (made at the end of each year for 20 years at the given interest rate, compounded annually). $1500 at 6%
Background image of page 2
Show entire document

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question