Basic Math question and answers for January 09, 2024
- Q A new employee charged 8040 on his credit card to relocate for his first job After noticing that the interest rate for his balance was 27 compounded monthly he stopped...
- Q Suppose that an insurance agent offers you a policy that will provide you with a yearly income of 80 000 in 30 years What is the comparable salary today assuming...
- Q Suppose you see a car with an advertised price of 14 700 at 410 83 per month for 4 years What is the amount of interest paid Round your answer...
- Q Find the present value using the present value formula and a calculator Round your answer to the nearest cent Hint Use a 365 day year when compounding continuously Achieve 225...
- Q If Rita receives 44 54 interest for a deposit earning 6 simple interest for 70 days what is the amount of her deposit Round your answer to the nearest cent...
- Q How much would you have in 6 years if you purchased a 1 000 6 year savings certificate that paid 4 compounded quarterly Round your answer to the nearest cent
- Q Disposal of fixed asset Equipment acquired on January 6 at a cost of 187 700 has an estimated useful life of 8 years and an estimated residual value of 24...
- Q Dexter Industries purchased packaging equipment on January 8 for 81 900 The equipment was expected to have a useful life of 3 years or 20 000 operating hours an a...
- Q Straight line depreciation A refrigerator used by a wholesale warehouse has a cost of 83 700 an estimated residual value of 6 900 and an estimated useful life of 8...
- Q Depreciation by units of activity method A diesel powered tractor with a cost of 250 040 and an estimated residual value of 4 400 is expected to have a useful...
- Q Partial year depreciation Equipment acquired at a cost of 71 000 has an estimated residual value of 4 000 and an estimated useful life of 10 years It was placed...
- Q Equipment was acquired at the beginning of the year at a cost of 41 250 The equipment was depreciated using the double declining balance method based or estimated useful life...
- Q The price of a home is 270 000 The bank requires a 5 down payment The home is financed with a 20 year mortgage at 7 Payment 172 nxt 1...
- Q A line passes through point 4 2 and has a slope of 2 Write an equation in Ax By C form for this line Use integers for A B and...
- Q A 380 000 home mortgage with a rate of 2 5 compounded continuously is borrowed for a period of 30 years Find the amount K that is needed to be...
- Q 17 Find the savings plan balance after 10 months with an APR of 3 and monthly payments of 390
- Q 20 Calculate the monthly payment for a student loan of 20 934 at a fixed APR of 8 for 12 years
- Q 14 6000 deposit at an APR of 3 with daily compounding for 7 years
- Q 19 You intend to create a college fund for your baby If you can get an APR of 3 0 and want the fund to have a value of 119...
- Q Answer the following compound interest questions Show your work algebraically and use correct rounding and units for your answers A The amount of money in a savings account is modeled...
- Q 12 1620 is invested at an APR of 3 for 15 years
- Q Suppose Maria invests 25 000 in an account bearing 5 7 interest compounded monthly How long will it take for the deposit to triple in value Do not round your...
- Q 3 points An amount of 1500 is deposited semi annually for two years into a fund that pays 10 5 per year compounded semi annually Determine the future value of...
- Q 2 points Henry can save 15 of his net earnings The amount of four of his paycheques is shown What is the amount that Henry saves in total to the...
- Q Suppose you want 25 000 in 14 years to purchase a car Find the amount of money you should deposit today at each A P R annual percentage rate below...
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