Business Mathematics In Canada 10th Edition F. Ernest Jerome, Tracy Worswick - Solutions

Determine the legal due date for:a. A four-month note dated April 30, 2019.b. A 120-day note issued April 30, 2019.
What does it mean to compound interest?
Explain the difference between “compounding period” and “compounding frequency.”
The following table contains 1981 and 2018 population figures for five provinces. Calculate each province’s equivalent compound annual rate of population change during the period. Province Alberta British Columbia Newfoundland and Labrador Nova Scotia Ontario 1981 2018 Population
Why is $100 received today worth more than $100 received at a future date?
If FV is less than PV, what can you predict about the value for i?
Under what circumstance does the value calculated for n equal the number of years in the term of the loan or investment?
Calculate the effective rate of interest corresponding to 6% compounded daily.
Is FV negative if you lose money on an investment?
How much more interest would accrue on a $1000 debt in a year at 6% compounded daily than at 6% compounded monthly?
Jan and Chelsea purchased their home 15 years ago for $198,000 and it is now appraised at $430,000. What was the (equivalent) annual rate of appreciation in the value of their home during the 15-year period?
Maritime Investments pays 4.625% compounded semiannually on its three-year GICs. What quarterly compounded rate of interest will produce the same maturity value?
If the number of workers in the auto industry in Canada declined by 32% from its peak at the end of 1999 to the beginning of 2011, what was the compound annual rate of attrition in the industry during this period?
The Consumer Price Index (based on a value of 100 in 2002) rose from 93.5 in 2000 to 115.1 in 2010. What was the (equivalent) annual rate of inflation in the first decade of the 2000s?
What is meant by the “term” of an annuity?
Teddy plans on contributing $6,000 every year (the maximum allowable contribution in 2019) to his TFSA. What is the future value after 20 years if the funds earn 4.5% compounded annually?
Lacey purchased a car with $1200 down and end-of-month payments of $352 for 4 years. What is the purchase price of the car if she has financed it at 7.55% compounded semiannually?
Rebecca is trying to decide if she should make regular month-end $100 deposits to her TFSA or deposit $300 at the end of every three months instead. How much larger is the option with the higher future value after 20 years if both investments earn 4.25% compounded annually?
Amir started contributing $5500 to a TFSA at the end of every year beginning in 2017. In 2019, the maximum allowable annual contribution was increased to $6000 and Amir planned to continue to contribute the maximum amount at the end of every year for the next 15 years. How much will he have in his
What will the monthly payment be if you borrow $30,000 for 36 months through Toyota at 0.99% compounded monthly? (We will use monthly compounding for simplicity.)
If, by a remarkable coincidence, the monthly payment on the $28,000 bank loan is exactly the same amount, what interest rate is the bank charging?
What, then, should be your decision rule for whether to choose the bank loan and take the cash discount incentive, or to choose the 0.99% financing?
Now consider the other scenario, in which you have sufficient financial resources to pay cash without borrowing. Suppose you have investments that you could sell and use the proceeds to purchase the vehicle. Nevertheless, you may still choose to borrow at the below-market rate of 0.99% because your
Norman financed the $2800 purchase price of his new washer and dryer with monthly payments at 6.4% compounded monthly made over two years. What will be the amount of each payment?
Summarize your findings as a general decision criterion. (Under what circumstance should you borrow to make an RRSP contribution?)
If TFSA contributions of $10,000 at the end of every year are projected to generate a plan worth $1,000,000 in 25 years, what effective rate of return was assumed in the forecast?
In department and home entertainment stores, the Samsung 32-inch LCD HD TV mentioned above was priced in the neighbour-hood of $650. Suppose we treat the rent-to-own transaction as a purchase-on-credit transaction wherein the $650 purchase price is paid off by beginning-of-week payments of $13.66
Based on the increase in your savings rate from 4% to 10%, show how this represents a 150% increase in savings.
For an individual making $50,000 per year with a tax rate of 35%, how much would they have in an investment if they were to invest 4% of their after-tax income at the beginning of every month for the next 20 years? Assume an average rate of return of 6% compounding semiannually on their investment.
What is the future value of $100 invested at the beginning of every month for 25 years if the investments earn:a. 4% compounded monthly?b. 8% compounded monthly?
How much more will they have after 20 years by saving 10% instead of 4%? Is it 150% more?
If market interest rates rise, will it require a larger endowment to sustain a perpetuity with a particular payment size? Give a brief explanation.
Gurwinder borrowed $2800 from his brother to purchase a 2005 Subaru Impreza. He agreed to repay the loan, with 2.5% interest compounding quarterly, in four quarterly payments. Construct the full amortization schedule for the loan. Calculate the total interest paid on the loan.
Falk Enterprises borrowed $8500 at 6.25% compounded semiannually to purchase a new forklift. The loan agreement stipulates regular semiannual payments be made over the next three years. Prepare the full amortization schedule for the loan. Calculate the total interest charges.
Gurwinder borrowed $2800 from his brother to purchase a 2005 Subaru Impreza. He agreed to repay the loan, with 2.5% interest compounding quarterly, using quarterly payments of $600 (except for a smaller final payment) until the loan is paid in full. Construct the full amortization schedule for the
Falk Enterprises borrowed $8500 at 6.25% compounded semiannually to purchase a new forklift. The loan agreement stipulates regular semiannual payments of $1600 (except for a smaller final payment). Prepare the full amortization schedule for the loan. Calculate the total interest paid.
Under what circumstance can you realize a capital gain on a bond investment?
Fassbender Industries tracks the annual sales from each of its six divisions to help evaluate performance and plan budgeting for the following year. Calculate the market growth (divisional growth) for each division. Division Electrical a. b. Plumbing c. Paint d. Lumber e. Kitchen and Bath f.
Solve each of the following pairs of equations to three-figure accuracy. Verify your solution in each case.0.03 x + 0.05 y = 510.8 x – 0.7 y = 140
Solve each of the following pairs of equations to three-figure accuracy. Verify your solution in each case.68.9 n – 38.5 m = 57 45.1 n – 79.4 m = - 658
Solve each of the following pairs of equations to three-figure accuracy. Verify your solution in each case.0.33 e + 1.67 f = 292 1.2 e + 0.61 f = 377
Solve each of the following pairs of equations to three-figure accuracy. Verify your solution in each case.318 j – 451 k = 7.22 – 249 j + 193 k = - 18.79
Evaluate each of the following expressions to six-figure accuracy.1.03 3
Evaluate each of the following expressions to six-figure accuracy.1.05 6
Evaluate each of the following expressions for the given values of the variables. In calculate the result accurate to the nearest cent.7x(4y – $8) for x = $3.20, y = $1.50
Home improvement stores in Ontario had sales of $12.8B in 2019, which represents 31.5% of the Canadian home improvement and building supplies industry. 1. What were the total Canadian industry sales for 2019?2. What is the dollar value of industry sales Canada wide for 2020 if the industry is
Old Navy reported that its sales in November 2018 were up 19.7% from its sales in May 2018. What percentage were May sales of November sales?
Express each of the following ratios in its lowest terms.0.2 : 0.8
For a given dollar amount of markup, which will be the larger number: the rate of markup on cost or the rate of markup on selling price? Explain.
Does a retailer break-even if an item is sold at the cost C?
Graph each of the equations in Problems.y = 4 over the range x = −3 to x = 6
What is meant by “equivalent payments”?
Under what circumstance is $100 paid today equivalent to $110 paid one year from now?
Caleb has a $1215 loan payment due today but he would like to defer the payment for seven months. How much is the equivalent payment seven months from today if he is being charged interest on the loan at 8 1 2 % per annum?
We frequently hear a news item that goes something like: “Joe Superstar signed a five-year deal worth $25 million. Under the contract he will be paid $3 million, $4 million, $5 million, $6 million, and $7 million in successive years.” In what respect is the statement incorrect? How should the
How can you determine which of three payments on different dates has the largest economic value?
Payments of $900 due 30 days from now and $1000 due 210 days from now are to be replaced with a single equivalent payment 90 days from now. If money can be invested at 4%, what single payment made 90 days from now is equivalent to the payment stream?
Cyril can purchase a trip to Aruba for an early booking price of $2370.00 now or wait 190 days and pay $2508.79. What annual rate of return would money have to earn for the two options to be economically equivalent?
Payments of $1300 due five months ago and $1800 due three months from now are to be replaced by a single payment at a focal date one month from now. What is the size of the replacement payment that would be equivalent to the two scheduled payments if money can earn 4 1 2 % ?
April missed a payment of $2740.00 on a loan with interest being charged at 4 1 2 % . The lender now wants $2755.20 as a late payment to settle up on the missed payment. How many days late was the payment?
A $3000 payment is scheduled for six months from now. If money is worth 6.75%, calculate the payment’s equivalent values at two-month intervals beginning today and ending one year from now.
Randolph runs a home appliance repair business and charges a service call fee of $85 plus $15 per half hour for his labour. Write an equation for calculating the total charges, C, in terms of hours of labour, H. What would be the slope and C-intercept?
Use the graphical method to solve each of the following pairs of equations.x − 3y = 3y = −2
Use the graphical method to solve each of the following pairs of equations.6x = 3y 4x - y = 1
Use the graphical method to solve each of the following pairs of equations.7p − 3q = 23 −2p − 3q = 5
Bricks and Mortar Building Inc. has retail locations in five provinces. a. Calculate the market shares for each province for 2018 and 2019.b. Calculate the year-on-year market growth for each location.Location2018 sales in $M2019 sales in $MBritish
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).88 : 17 = a : 45
Express each of the following ratios as an equivalent ratio whose smallest term is 1.3/2 : 1/4
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).d : 13.2 = 16 : 31
Set up a ratio in each of Problem and express the ratio in lowest terms.A recipe for macaroni and cheese calls for 3 cups of macaroni and 1.5 cups of cheese for 6 servings. Write the ratio for servings to cheese to macaroni.
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).1.89 : 0.31 = 175 : k
Set up a ratio in each of Problem and express the ratio in lowest terms.Lalita owns a 4-kg Chihuahua, a 28-kg Poodle, and a 48-kg German Shepherd. What is the ratio for the weights of the Poodle to the Chihuahua to the German Shepherd?
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).1.56 : h = 56.2 : 31.7
Express each of the following ratios in its lowest terms.12 : 64
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).0.043 : y = 550 : 198
Express each of the following ratios in its lowest terms.56 : 21
Solve the following proportions for the unknown quantities (maintain three-figure accuracy in problems where rounding is needed).0.057 : 0.149 = z : 0.05
Express each of the following ratios in its lowest terms.45 : 15 : 30
Express each of the following ratios in its lowest terms.26 : 130 : 65
Express each of the following ratios in its lowest terms.0.08 : 0.12
Express each of the following ratios in its lowest terms.2.5 : 3.5 : 3
Express each of the following ratios in its lowest terms.0.84 : 1.4 : 1.96
Express each of the following ratios in its lowest terms.11.7 : 7.8 : 3.9
Express each of the following ratios in its lowest terms.0.24 : 0.39 : 0.15
Express each of the following ratios in its lowest terms.0.091 : 0.021 : 0.042
Express each of the following ratios in its lowest terms.4/3 : 3/2
Express each of the following ratios in its lowest terms.4 1/8 : 2 1/5
Express each of the following ratios in its lowest terms.10 1/2 : 7 : 4 1/5
Express each of the following ratios as an equivalent ratio whose smallest term is 1. Maintain three-figure accuracy.7.6 : 3
Express each of the following ratios as an equivalent ratio whose smallest term is 1. Maintain three-figure accuracy.0.0131 : 0.0086
Express each of the following ratios as an equivalent ratio whose smallest term is 1. Maintain three-figure accuracy.3.5 : 5.4 : 8
Express each of the following ratios as an equivalent ratio whose smallest term is 1. Maintain three-figure accuracy.0.47 : 0.15 : 0.26
Set up a ratio in each of Problems. If the ratio cannot be reduced to an equivalent ratio in terms of small integers, then express it as a ratio of decimal equivalents with the smallest term set at 1. Maintain three-figure accuracy.An online catalogue business sent out 12,000 emails to
Set up a ratio in each of Problems. If the ratio cannot be reduced to an equivalent ratio in terms of small integers, then express it as a ratio of decimal equivalents with the smallest term set at 1. Maintain three-figure accuracy.Shaheed has budgeted 12% of his monthly spending to cell
Set up a ratio in each of Problems. If the ratio cannot be reduced to an equivalent ratio in terms of small integers, then express it as a ratio of decimal equivalents with the smallest term set at 1. Maintain three-figure accuracy.The brine used in an industrial process is 12.5% salt by
Jenn spends 1 hour and 45 minutes a day playing online games. Her sister Amanda spends 3 hours and 30 minutes a day gaming online, and their brother Steve spends 6 hours and 15 minutes a day playing online games. Write the ratio for the number of hours Jenn, Amanda, and Steve play online games.
The bounce rate measures the percentage of visitors who leave a Web site after viewing only one page. If a Web page has a bounce rate of 62.5% what is the ratio of bounces to visitors?
Is it possible for the rate of markup on cost to exceed 100%? Explain.
Evaluate each of the following, accurate to the nearest cent or two decimal places.$ 950.75 / (1 − 0.095 / 4) 2
Simplify each of the following.a2 × a3

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Business Mathematics In Canada 10th Edition F. Ernest Jerome, Tracy Worswick - Solutions

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