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mathematics
contemporary mathematics
Contemporary Mathematics 1st Edition OpenStax - Solutions
Quarterly How many periods are there if interest is compounded?
Semi-annually How many periods are there if interest is compounded?
Principal \(=\$ 15,000\), annual interest rate \(=4.25 \%\), compounded annually, for 5 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 27,500\), annual interest rate \(=3.75 \%\), compounded annually, for 10 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 13,800\), annual interest rate \(=2.55 \%\), compounded quarterly, for 18 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 150,000\), annual interest rate \(=2.95 \%\), compounded quarterly, for 30 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 3,500\), annual interest rate \(=2.9 \%\), compounded monthly, for 7 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 1,500\), annual interest rate \(=3.23 \%\), compounded monthly, for 30 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 16,000\), annual interest rate \(=3.64 \%\), compounded daily, for 13 years Compute the future value of the investment with the given conditions.
Principal \(=\$ 9,450\), annual interest rate \(=3.99 \%\), compounded daily, for 25 years Compute the future value of the investment with the given conditions.
Future value \(=\$ 250,000\), annual interest rate \(=3.45 \%\), compounded annually, for 25 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 300,000\), annual interest rate \(=3.99 \%\), compounded annually, for 15 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 1,500,000\), annual interest rate \(=4.81 \%\), compounded quarterly, for 35 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 750,000\), annual interest rate \(=3.95 \%\), compounded quarterly, for 10 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 600,000\), annual interest rate \(=3.79 \%\), compounded monthly, for 17 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 800,000\), annual interest rate \(=4.23 \%\), compounded monthly, for 35 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 890,000\), annual interest rate \(=2.77 \%\), compounded daily, for 25 years Compute the present value of the accounts with the given conditions.
Future value \(=\$ 345,000\), annual interest rate \(=2.99 \%\), compounded daily, for 19 years Compute the present value of the accounts with the given conditions.
Annual interest rate \(=2.75 \%\), compounded monthly Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Annual interest rate \(=3.44 \%\), compounded monthly Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Annual interest rate \(=5.18 \%\), compounded quarterly Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Annual interest rate \(=2.56 \%\), compounded quarterly Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Annual interest rate \(=4.11 \%\), compounded daily Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Annual interest rate \(=6.5 \%\), compounded daily Compute the effective annual yield for accounts with the given interest rate and number of compounding periods. Round to three decimal places.
Find the present value of \(\$ 500,000\) in an account that earns \(3.85 \%\) compounded quarterly for the indicated number of years.a. 40 yearsb. 35 yearsc. 30 yearsd. 25 yearse. 20 yearsf. 15 years Explore what happens when a person deposits money in an account earning compound interest.
Find the present value of \(\$ 1,000,000\) in an account that earns \(6.15 \%\) compounded monthly for the indicated number of years.a. 40 yearsb. 35 yearsc. 30 yearsd. 25 yearse. 20 yearsf. 15 years Explore what happens when a person deposits money in an account earning compound interest.
The number of years can reflect delaying depositing money. 40 years would be depositing money at the start of a 40 -year career. 35 years would be waiting 5 years before depositing the money. Thirty years would be waiting 10 years before depositing the money, and so on. What do you notice happens
For each 5 -year gap for exercise 32 , compute the difference between the present values. Do these differences remain the same for each of the 5 -year gaps, or do they differ? How do they differ? What conclusion can you draw?Explore what happens when a person deposits money in an account earning
Daria invests \(\$ 2,500\) in a CD that yields \(3.5 \%\) compounded quarterly for 5 years. How much is the CD worth after those 5 years?
Maurice deposits \(\$ 4,200\) in a CD that yields \(3.8 \%\) compounded annually for 3 years. How much is the CD worth after those 3 years?
Georgita is shopping for an account to invest her money in. She wants the account to grow to \(\$ 400,000\) in 30 years. She finds an account that earns \(4.75 \%\) compounded monthly. How much does she need to deposit to reach her goal?
Zak wants to create a nest egg for himself. He wants the account to be valued at \(\$ 600,000\) in 25 years. He finds an account that earns \(4.05 \%\) interest compounded quarterly. How much does Zak need to deposit in the account to reach his goal of \(\$ 600,000\) ?
Eli wants to compare two accounts for their money. They find one account that earns \(4.26 \%\) interest compounded monthly. They find another account that earns \(4.31 \%\) interest compounded quarterly. Which account will grow to Eli's goal the fastest?
Heath is planning to retire in 40 years. He'd like his account to be worth \(\$ 250,000\) when he does retire. He wants to deposit money now. How much does he need to deposit in an account yielding \(5.71 \%\) interest compounded semi-annually to reach his goal?
Jo and Kim want to set aside some money for a down payment on a new car. They have 6 years to let the money grow. If they want to make a \(\$ 15,000\) down payment on the car, how much should they deposit now in an account that earns \(4.36 \%\) interest compounded monthly?
Paola reads the newspaper article from exercise 32.She really wants to know how different they are in terms of dollars, not effective annual yield. She decides to compute the future value for accounts at each bank based on a principal of \(\$ 100,000\) that are allowed to grow for 20 years. What is
Paola reads the newspaper article from exercise 32.She really wants to know how different they are in terms of dollars, not effective annual yield. She decides to compute the future value for accounts at each bank based on a principal of \(\$ 100,000\) that are allowed to grow for 20 years. What is
Jesse and Lila need to decide if they want to deposit money this year. If they do, they can deposit \(\$ 17,400\) and allow the money to grow for 35 years. However, they could wait 12 years before making the deposit. At that time, they'd be able to collect \(\$ 31,700\) but the money would only
Veronica and Jose are debating if they should deposit \(\$ 15,000\) now in an account or if they should wait 10 years and deposit \(\$ 25,000\). If they deposit money now, the money will grow for 35 years. If they wait 10 years, it will grow for 25 years. Their account earns \(5.25 \%\) interest
Rent Categorize each expense as a necessary expense or an expense that is a want.
Dinner at a restaurant.Categorize each expense as a necessary expense or an expense that is a want.
Car payment Categorize each expense as a necessary expense or an expense that is a want.
New game system Categorize each expense as a necessary expense or an expense that is a want.
Gym membership Categorize each expense as a necessary expense or an expense that is a want.
Electric bill Categorize each expense as a necessary expense or an expense that is a want.
Heating bill Categorize each expense as a necessary expense or an expense that is a want.
Phone bill Categorize each expense as a necessary expense or an expense that is a want.
Netflix Categorize each expense as a necessary expense or an expense that is a want.
Student Loan Payment Categorize each expense as a necessary expense or an expense that is a want.
Explain how a necessary expense for one person could be a want expense for another person.
Explain how a necessary expense may be partly a necessary expense and partially a want expense.
Per month: paychecks \(=\$ 3,680\), consulting \(=\$ 900\), Mortgage \(=\$ 1,198.00\), Utilities \(=\$ 376\), Cell phone \(=\$ 67.50\), Car payments \(=\$ 627.85\), Car insurance \(=\$ 183.50\), Student loans \(=\$ 833\), Food \(=\$ 450\), Gasoline \(=\$ 275\), Internet \(=\$ 69\), Dining out \(=\$
Per month: paychecks \(=\$ 2,750\), child support \(=\$ 500\), Mortgage \(=\$ 945.50\), Utilities \(=\$ 195\), Cell phone \(=\$ 37.50\), Car payments \(=\$ 298.23\), Car insurance \(=\$ 163.50\), Student loans \(=\$ 438\), Food \(=\$ 250\), Gasoline \(=\$ 175\), Internet \(=\$ 49\), Netflix \(=\$
Per month: paychecks \(=\$ 4,385\), Rent \(=\$ 1095\), Utilities \(=\$ 165\), Cell phone \(=\$ 67.50\), Car payments \(=\$ 467.35\), Car insurance \(=\$ 243.75\), Student loans \(=\$ 1,150\), Food \(=\$ 325\), Gasoline \(=\$ 260\), Internet \(=\$ 99\), Netflix \(=\$ 15\), Amazon \(=\$ 23\), Gym
Per month: paychecks \(=\$ 3,460\), Gig job \(=\$ 173\), Rent \(=\$ 895\), Utilities \(=\$ 165\), Car payments \(=\$ 195.80\), Car insurance \(=\$ 123.30\), Food \(=\$ 265\), Gasoline \(=\$ 185\), Internet \(=\$ 39\), Hulu \(=\$ 15\), Amazon \(=\$ 23\), Credit cards \(\$ 97.60\), Entertainment
Referring to Exercise 13: Monthly income \(=\$ 4,580.00\)Determine the amount of money that should be allocated to each of the three categories of the 50-30-20 budget philosophy guidelines.Data from Exercises 13Per month: paychecks \(=\$ 3,680\), consulting \(=\$ 900\), Mortgage \(=\$ 1,198.00\),
Referring to Exercise 14: Monthly income \(=\$ 3,250.00\)Determine the amount of money that should be allocated to each of the three categories of the 50-30-20 budget philosophy guidelines.Data from Exercises 14Per month: paychecks \(=\$ 2,750\), child support \(=\$ 500\), Mortgage \(=\$ 945.50\),
Referring to Exercise 15: Monthly income \(=\$ 4,385.00\)Determine the amount of money that should be allocated to each of the three categories of the 50-30-20 budget philosophy guidelines.Data from Exercises 15Per month: paychecks \(=\$ 4,385\), Rent \(=\$ 1095\), Utilities \(=\$ 165\), Cell phone
Referring to Exercise 16: Monthly income \(=\$ 3,633.00\)Determine the amount of money that should be allocated to each of the three categories of the 50-30-20 budget philosophy guidelines.Data from Exercises 16Per month: paychecks \(=\$ 3,460\), Gig job \(=\$ 173\), Rent \(=\$ 895\), Utilities
The budget and 50-30-20 rule from exercises 13 and 17.Evaluate the given budget with respect to the 50-30-20 budget philosophy guidelines.Data from Exercises 17Referring to Exercise 13: Monthly income \(=\$ 4,580.00\)Determine the amount of money that should be allocated to each of the three
The budget and 50-30-20 rule from exercises 14 and 18 .Evaluate the given budget with respect to the 50-30-20 budget philosophy guidelines.Data from Exercises 18Referring to Exercise 14: Monthly income \(=\$ 3,250.00\)Determine the amount of money that should be allocated to each of the three
The budget and 50-30-20 rule from exercises 15 and 19.Evaluate the given budget with respect to the 50-30-20 budget philosophy guidelines.Data from Exercises 19Referring to Exercise 15: Monthly income \(=\$ 4,385.00\)Determine the amount of money that should be allocated to each of the three
The budget and 50-30-20 rule from exercises 16 and 20 .Evaluate the given budget with respect to the 50-30-20 budget philosophy guidelines.Data from Exercises 20Referring to Exercise 16: Monthly income \(=\$ 3,633.00\)Determine the amount of money that should be allocated to each of the three
Determine how much income Kiera and Logan have per month.Kiera and Logan sit down to make their budget. Kiera works full time as a mental health counselor and sells kids toys on her own. Logan works as a branch manager at a local bank and works part-time at the nearby bar. They collect their
Apply the 50-30-20 budget philosophy to their income.Kiera and Logan sit down to make their budget. Kiera works full time as a mental health counselor and sells kids toys on her own. Logan works as a branch manager at a local bank and works part-time at the nearby bar. They collect their financial
Create their budget, using the income from Exercise 25.Kiera and Logan gather their bills from the last 6 months. Their fixed expenses, with costs, are rent for \(\$ 1,350\), Kiera's car payment for \(\$ 275\), Logan's car payment of \(\$ 380\), student loans (they each have students loans) for
Categorize each expense as a need or a want. Find the total for each, along with remaining income.Kiera and Logan gather their bills from the last 6 months. Their fixed expenses, with costs, are rent for \(\$ 1,350\), Kiera's car payment for \(\$ 275\), Logan's car payment of \(\$ 380\), student
Compare their budget to the guidelines from the 50-30-20 budget from Exercise 27.Kiera and Logan gather their bills from the last 6 months. Their fixed expenses, with costs, are rent for \(\$ 1,350\), Kiera's car payment for \(\$ 275\), Logan's car payment of \(\$ 380\), student loans (they each
Determine if Kiera and Logan can afford to buy a new computer, which would cost \(\$ 330\) per month for the next 6 months.Kiera and Logan gather their bills from the last 6 months. Their fixed expenses, with costs, are rent for \(\$ 1,350\), Kiera's car payment for \(\$ 275\), Logan's car payment
Annual salary: \(\$ 30,000\). Monthly take home: \(\$ 1,938\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is
Annual salary: \(\$ 40,000.00\). Monthly take home: \(\$ 2,564\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is
Annual salary: \(\$ 50,000\). Monthly take home: \(\$ 3,144\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is
Annual salary: \(\$ 70,000\). Monthly take home: \(\$ 4,229\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is
Annual salary: \(\$ 100,000\). Monthly take home: \(\$ 5,840\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is
Annual salary: 150,000 . Monthly take home: \(\$ 8,506\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The annual salary, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Hourly pay: \(\$ 12.15\) (minimum wage in Tempe, Arizona as of September 2022). Monthly take home: \(\$ 1,698\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly
Hourly pay: \(\$ 15.00\). Monthly take home: \(\$ 2,083\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Hourly pay: \(\$ 17.50\). Monthly take home: \(\$ 2,421\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Hourly pay: \(\$ 19.75\). Monthly take home: \(\$ 2,725\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Hourly pay: \(\$ 25.00\). Monthly take home: \(\$ 3,369\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Hourly pay: \(\$ 35.00\). Monthly take home: \(\$ 4,547\)The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given
Rewrite the following as fractions:1. \(18 \%\)2. \(84 \%\)3. \(38.7 \%\)4. \(213 \%\)
Convert the following percents to decimal form:1. \(17 \%\)2. \(7 \%\)3. \(18.45 \%\)
Convert each of the following to percent:1. 0.34 2. 4.15 3. 0.0391
1. Determine \(70 \%\) of 3,500 2. Determine \(156 \%\) of 720
1. What is the total if \(35 \%\) of the total is 70 ?2. What is the total if \(10 \%\) of the total is 4,000 ?
1. What percent of 500 is 175 ?2. What percent of 228 is 155 ?
Justine applies to a medium size university outside her hometown and finds out that the retention rate (percent of students who return for their sophomore year) for the 2021 academic year at the university was \(84 \%\). During a visit to the registrar's office, she finds out that 1,350 people had
Cameron enrolls in a calculus class. In this class of 45 students, there are 18 chemistry majors. What percent of the class are chemistry majors?
Mariel makes a \(20 \%\) commission on every sale she makes. One week, her commission check is for \(\$ 153.00\). What were her total sales that week?
Calculate the discount for the given price and discount percentage. Then calculate the sale price.1. Original price \(=\$ 75.80\); percent discount is \(25 \%\)2. Original price \(=\$ 168.90\); percent discount is \(30 \%\)
Determine the percent discount based on the given original and sale prices.1. Original price \(=\$ 1,200.00\); sale price \(=\$ 900.00\)2. Original price \(=\$ 36.70\); sale price \(=\$ 29.52\)
Determine the original price based on the percent discount and sale price.1. Percent discount \(10 \%\); sale price \(=\$ 450.00\)2. Percent discount \(75 \%\), sale price \(=\$ 90.00\)
The sale rack at a clothing store is marked "All Items \(30 \%\) off." Ian finds a shirt that had an original price of \(\$ 80.00\). What is the discount on the shirt? What is the sale price of the shirt?
An annual pass on the city bus is priced at \(\$ 240\). The student price, though, is \(\$ 168\). What is the percent discount for students for the bus pass?
Kendra's car developed a flat, and the tire store told her that two tires had to be replaced. She got a \(10 \%\) discount on the pair of tires, and the sale price came to \(\$ 189.00\). What was the original price of the tires?
Calculate the markup for the given cost and markup percentage. Then calculate the retail price.1. Cost \(=\$ 62.00\); percent markup is \(15 \%\)2. Cost \(=\$ 750.00\); percent markup is \(45 \%\)
Determine the percent markup based on the given cost and retail price. Round percentages to two decimal places.1. Cost \(=\$ 90.00\); retail price \(=\$ 103.50\)2. Cost \(=\$ 5.20\); retail price \(=\$ 9.90\)
Determine the cost based on the percent markup and retail price.1. Percent markup \(20 \%\); retail price \(=\$ 10.62\)2. Percent markup \(125 \%\); retail price \(=\$ 26.55\)
Janice works at a convenience store near campus. It sells protein bars at a \(60 \%\) markup. If a bar costs the store \(\$ 1.30\), how much is the retail price at the convenience store?
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