Question: Need someone's help! It's grade 11 college Math. It's on Personal Finance and Compound Interest probley a little Exponential. I need someone to answer question
Need someone's help! It's grade 11 college Math. It's on Personal Finance and Compound Interest probley a little Exponential. I need someone to answer question 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39 and 40. Just need to answer if it's a, b, c or d. Thank you soooo much!
VII-nun.\" VUI I I-uvvuIH-UVI I I 2%. Determine the present value of a loan of $24 150 that is due in 7 years. The interest rate is 8%fa compounded quarterly. a. 514 091.29 c. $21 024.03 b. $2799.32 d. $13 811.15 29' Which of the following procedures can be used to determine the present value of an investment earning compound interest? a. Divide the factor that includes the interest rate by the future value b. Divide the future value by the factor that includes the interest rate e. Multiply the factor that includes the interest rate by the rture value d. Raise the factor that includes the interest rate to the nth power 30, Javier agrees to pay $30 000 now and $120 000 in 4 years for a condominium. If he can invest at 85% compounded annually, what sum of money does he need now to buy the condominium? a. $5] 927.75 c. $113 824.83 b. $65 912.34 d. 586 588.91 Thinking and Inquiry Multiple Choice Meaty? the choice that best completes tire statement or answers the question 3]. Jaime uses the formula P = 9850(1 + 0. D73} 12f\" to determine how much he will have to invest now to accrue $9850. For how many years does he plan to keep the money invested? a. 6 c 12 b. 10 d. 72 32. On Jill's 20th birthday. she receives $25 000, the amount that has accumulated in an investment account that her grandparents set up for her when she was born. 11' they invested at a rate of 6.25%. how oen was the interest compounded? a. annually ct quarterly b. semi-annually d. monthly 33, In 5 years. Delia will pay back $32 000 on a loan that was borrowed at a rate of 5.25%ta compounded quarterly. How much of the $32 001] will he interest? a. 520 499.73 c. $7365.88 b. 51223.53 d. $2019.18 34, Phoebe borrowed $9000 from her employer to purchase a new car. The employer gave her an interest rate of 1.5%ia compounded quarterly. The loan is to be paid back at the end of 6 years. What will be the value forl indieTVMSolver'? a. 0.375 c. 1.5 b. -o.3r5 d- -175 35. Monica has negotiated a salary increase that will give her a salary 01345 760.99 in three years' time. [fshe is now making $42 000 per year, what is the agreed upon yearly rate of increase? a. 1.8% c. 2.9% b. 2.4% d. 3.3% 36. What interest rate is needed to double an investment compounded semi-annually for 10 years? a. 3.2% c. 3.5% b. 6.34% d. 7.05% 37. Today, Kaylee has $769.59 in her savings account. For the last 3 years, her account has paid 8W3 compounded quarterly. Before that, her account paid 7.3%fa compounded quarterly for 2 years. lf'shc only made one deposit 5 years ago, determine the original principal, a, $46? c. $489 b. 5564 d. $522 38. On the day Ben was born. his grandparents deposited $800 in a savings account that earns 5.2%ta compounded monthly They deposited the same amount on his 51h, 10th. and 15th birthdays. Determine the balance in the account on Ben's 18th birthday. a. 511 092.48 c. $8l46.18 b. 510 081.38 d. $3433.59 39. Li has $630 to invest in a GlC at a rate of 9.5%1'3 compounded quarterly. If she wants to have $1000, for how long should she invest her money? a. 2.5 years c. 5 years b. 4 years d. 3.5 years 40, Stan led the country for business and forgot to pay his credit card bill of $813.96 for 2 months aer it was due. The credit card company charges 19%1a compounded monthly. How much did Stan owe? a. $901.85 c. $1237.61 1). 5887.80 {1. $1146.?9