#11, 12, 13, 17, 19, 20, 21, 22, 25, 26, 29 (a, c, g, h), 31 and 32. Sorry for all the questions, I just hate paying 3 dollars per question. Thank you for the help.

arterly 10. If I = Prt and P = $49,236.45, r = 10.5%, and t = 2 years, d. monthly estimate I. A. $10,000 e. daily B. $600 C. $50,000 D. $120,000 f. every minute (N = 525,600) g. continuously 11. If I = Prt and I = $398.90, r = 1.05%, and t = 1 year, h. simple (not compounded) estimate P. A. $400 B. $40 30. If $34,500 is invested at 6.9% for 30 years, find the future C. $40,000 D. $4,000 value if the interest is compounded: a. annually 12. If t = 3.52895, then the time is about 3 years and how many b. semiannually days ? c. quarterly A. 30 B. 300 d. monthly C. 52 D. 200 e. daily 13. If a loan is held for 450 days, then t is about f. every minute (N = 525,600) A. 450 B. 3 g. continuously C. 17 D. 5 h. simple (not compounded) 14. If a loan is held for 180 days, then t is about A. 180 B. Z Level 2 C. A D. 3 Find the total amount that must be repaid on the notes described in In Problems 15-18, calculate the amount of simple interest Problems 31-32. earned. 31. $1,500 borrowed at 21% simple interest. What is the total 15. $1,000 at 8% for 5 years amount to be repaid 55 days later? 16. $5,000 at 10% for 3 years 32. $8,553 borrowed at 16.5% simple interest. What is the total amount to be repaid

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Problem Set 11.1 Level 1 1. IN YOUR OWN WORDS 2. IN YOUR OWN WORDS interest rate. What is interest? Contrast amount of interest and 3. IN YOUR OWN WORDS Compare and contrast simple and compound interest. 4. IN YOUR OWN WORDS Compare and contrast present value and future value. Use estimation to select the best response in Problems 5-14. Do not calculate. 5. If you deposit $100 in a bank account for a year, then the amount of interest is likely to be A. $1 C. $101 B. $5 D. impossible to estimate 6. If you deposit $100 in a bank account for a year, then the future value is likely to be A. $1 C. $101 B. $5 D. impossible to estimate 7. If you purchase a new automobile and finance it for four years, the amount of interest you might pay is A. $400 C. $4,000 B. $100 D. impossible to estimate 8. What is a reasonable monthly income when you retire? A. $300 C. $1,000,000 B. $10,000 D. impossible to estimate 9. In order to retire and live on the interest only, what is a reason- able amount to have in the bank? A. $300 C. $1,000,000 B. $10,000 D. impossible to estimate 10. If I Prt and P = $49,236.45, r = 10.5%, and t = 2 years, = estimate I. A. $10,000 C. $50,000 B. $600 D. $120,000 11. If I = Prt and I = $398.90, r = 1.05%, and t = 1 year, estimate P. A. $400 C. $40,000 B. $40 D. $4,000 12. If t = 3.52895, then the time is about 3 years and how many days? A. 30 B. 300 D. 200 C. 52 13. If a loan is held for 450 days, then t is about A. 450 C. 1 B. 3 D. 5 14. If a loan is held for 180 days, then t is about A. 180 C. // B. D. 3 In Problems 15-18, calculate the amount of simple interest earned. 15. $1,000 at 8% for 5 years 16. $5,000 at 10% for 3 years 17. $2,000 at 12% for 5 years 18. $1,000 at 14% for 30 years In Problems 19-24, find the future value, using the future value formula and a calculator. 19. $350 at 4% simple interest for 2 years 20. $835 at 3.5% compounded semiannually for 6 years 21. $575 at 5.5% compounded quarterly for 5 years 22. $9,730.50 at 7.6% compounded monthly for 7 years 23. $45.67 at 3.5% compounded daily for 3 years 24. $119,400 at 7.5% compounded continuously for 30 years In Problems 25-28, find the present value, using the present value formula and a calculator. 25. Achieve $5,000 in three years at 3.5% simple interest. 26. Achieve $420,000 in 30 years at 6% interest compounded monthly. 27. Achieve a million dollars in 30 years at 6% interest com- pounded continuously. 28. Achieve $225,500 at 8.65% compounded continuously for 8 years, 135 days. 29. If $12,000 is invested at 4.5% for 20 years, find the future value if the interest is compounded: a. annually b. semiannually c. quarterly d. monthly e. daily f. every minute (N = 525,600) g. continuously h. simple (not compounded) 30. If $34,500 is invested at 6.9% for 30 years, find the future value if the interest is compounded: a. annually b. semiannually c. quarterly d. monthly e. daily f. every minute (N = 525,600) g. continuously h. simple (not compounded) Level 2 Find the total amount that must be repaid on the notes described in Problems 31-32. 31. $1,500 borrowed at 21% simple interest. What is the total amount to be repaid 55 days later? 32. $8,553 borrowed at 16.5% simple interest. What is the total amount to be repaid 3 years 125 days later? Problem Set 11.1 Level 1 1. IN YOUR OWN WORDS 2. IN YOUR OWN WORDS interest rate. What is interest? Contrast amount of interest and 3. IN YOUR OWN WORDS Compare and contrast simple and compound interest. 4. IN YOUR OWN WORDS Compare and contrast present value and future value. Use estimation to select the best response in Problems 5-14. Do not calculate. 5. If you deposit $100 in a bank account for a year, then the amount of interest is likely to be A. $1 C. $101 B. $5 D. impossible to estimate 6. If you deposit $100 in a bank account for a year, then the future value is likely to be A. $1 C. $101 B. $5 D. impossible to estimate 7. If you purchase a new automobile and finance it for four years, the amount of interest you might pay is A. $400 C. $4,000 B. $100 D. impossible to estimate 8. What is a reasonable monthly income when you retire? A. $300 C. $1,000,000 B. $10,000 D. impossible to estimate 9. In order to retire and live on the interest only, what is a reason- able amount to have in the bank? A. $300 C. $1,000,000 B. $10,000 D. impossible to estimate 10. If I Prt and P = $49,236.45, r = 10.5%, and t = 2 years, = estimate I. A. $10,000 C. $50,000 B. $600 D. $120,000 11. If I = Prt and I = $398.90, r = 1.05%, and t = 1 year, estimate P. A. $400 C. $40,000 B. $40 D. $4,000 12. If t = 3.52895, then the time is about 3 years and how many days? A. 30 B. 300 D. 200 C. 52 13. If a loan is held for 450 days, then t is about A. 450 C. 1 B. 3 D. 5 14. If a loan is held for 180 days, then t is about A. 180 C. // B. D. 3 In Problems 15-18, calculate the amount of simple interest earned. 15. $1,000 at 8% for 5 years 16. $5,000 at 10% for 3 years 17. $2,000 at 12% for 5 years 18. $1,000 at 14% for 30 years In Problems 19-24, find the future value, using the future value formula and a calculator. 19. $350 at 4% simple interest for 2 years 20. $835 at 3.5% compounded semiannually for 6 years 21. $575 at 5.5% compounded quarterly for 5 years 22. $9,730.50 at 7.6% compounded monthly for 7 years 23. $45.67 at 3.5% compounded daily for 3 years 24. $119,400 at 7.5% compounded continuously for 30 years In Problems 25-28, find the present value, using the present value formula and a calculator. 25. Achieve $5,000 in three years at 3.5% simple interest. 26. Achieve $420,000 in 30 years at 6% interest compounded monthly. 27. Achieve a million dollars in 30 years at 6% interest com- pounded continuously. 28. Achieve $225,500 at 8.65% compounded continuously for 8 years, 135 days. 29. If $12,000 is invested at 4.5% for 20 years, find the future value if the interest is compounded: a. annually b. semiannually c. quarterly d. monthly e. daily f. every minute (N = 525,600) g. continuously h. simple (not compounded) 30. If $34,500 is invested at 6.9% for 30 years, find the future value if the interest is compounded: a. annually b. semiannually c. quarterly d. monthly e. daily f. every minute (N = 525,600) g. continuously h. simple (not compounded) Level 2 Find the total amount that must be repaid on the notes described in Problems 31-32. 31. $1,500 borrowed at 21% simple interest. What is the total amount to be repaid 55 days later? 32. $8,553 borrowed at 16.5% simple interest. What is the total amount to be repaid 3 years 125 days later?

Answer rating: 100% (QA)

Certainly Lets go through each of the problems youre asking about Problem 10 quarterly 10 If I Prt and P 4923645 r 105 and t 2 years monthly estimate ... View the full answer