Maths Multi Choice - Questions "Recursion and Financial Modelling"

I NEED THE ANSWERS IN 45MINS FROM POST! THANK YOU

1. A musician purchased a new grand piano for $17 990.After 8 years it will have an estimated value of $12 500.If the value of the piano is depreciated using a reducing-balance method, the annual rate of depreciation, is closest to

Select one:

a.30.5%

b.4.45%

c.69%

d.4.66%

e.43.9%

2.The amount of money in a bank account afternyears,V_n, can be modelled by the recurrence relation

V₀= 12 000,V_n+1= 0.92V_n

The amount of money is

Select one:

a.growing at the rate of 8% per annum

b.decaying at the rate of 9.2% per annum

c.decaying at the rate of 8% per annum

d.neither growing nor decaying

e.growing at the rate of 9.2% per annum

3. Alistair borrows $4500 from a bank and will pay interest at the rate of 3.6% per annum, compounding monthly.

A recurrence relation that models the value of Alistair's loan afternmonths,V_n, is

Select one:

a.V₀= 4500,V_n+1= 1.36V_n

b.V₀= 4500,V_n+1= 1.003V_n

c.V₀= 4500,V_n+1= 1.036V_n

d.V₀= 4500,V_n+1= 1 + 3.6V_n

e.V₀= 4500,V_n+1= (1 + 3.6)V_n

_4.Asumof$3500isinvestedin anaccountthatpays 2.4%perannumsimpleinterest.

Arecurrencerelationthatmodelsthevalueoftheinvestmentafternyears,Vn,is

Select one:

a.V0= 3500,Vn+1=Vn+ 24

b.V0= 3500,Vn+1=Vn- 84

c.V0= 3500,Vn+1=Vn+ 84

d.V0= 3500,Vn+1= 2.4Vn

e.V0= 3500,Vn+1=Vn- 24

5. Thegraph belowshowsthedepreciationinthevalueofacarovera period of5years. In the graph,Vnisthevalueofthecarafternyears.Aruleforthevalueofthecarafternyearsis

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