Question: Need someone's help! It's grade 11 college Math. It's on Personal Finance and Compund Interest. I just need Q28 to Q40 answered if you can.

Need someone's help! It's grade 11 college Math. It's on Personal Finance and Compund Interest. I just need Q28 to Q40 answered if you can. Just need to know if it's a, b, c or d. soo sorry it's small just try to zoom in and you an see it clear. Thanks soooo sooo much!

Need someone's help! It's grade 11 college Math.
28. Determine the presem value of a loan of 524 ISO that is due in 1 years. The imercst rate is 8%fa compounded quarterly. a. $l4 09L29 C. $2l 024.03 b. $2799.32 d. $13 871.15 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 c. Multiply the factor that includes the interest rate by the iture value d. Raise the factor that includes the interest rate to the nth power 30. Javier agrees to pay $30 000 now and $1213 000 in it years for a condominium. If he can invest at 8.5% compounded annually, what sum of money does he need now to buy the condominium? a. 551 927.75 c. $73 824.83 b. 565 912.34 d. 586 588.91 Thinking and Inquiry Multiple Choice Meaty} tire choice that best campt'eies the statement or answers the question 31. Jaime uses the formula P = 9850(1 + 0.073? 12f\" to determine how much he will have to invest now to accrue 59850. For how many years does he plan to keep the money invested? a. 6 c. 12 b. 10 d. 72 32. On Jill's 201h birthday. she receives $25 000, the amount that has accumulated in an investment account that her grandparents set up for her when she was hour. If they invested at a rate of6.25%. how often was the interest compounded? a. annually c. 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%i'a compounded quarterly. How much of the $32 001] will be interest? a. $20 499.73 C. $7365.88 b. $7223.53 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%fa compounded quarterly. The loan is to be paid back at the end of 6 years. What will be the value for] in the TVM Solver? a. 0.375 c. I5 1). 41375 d. l.5 35. Monica has negotiated a salary increase that will give her-a salary of$45 760.99 in three years' time. lfshe 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 8W1! compounded quarterly. Before that, her account paid 7.3%i'a compounded quarterly for 2 years. lfshc only made one deposit 5 years ago, determine the original principal. a, $46? c. $489 b. $564 d. $522 38. On the day Ben was born. his grandparents deposited $800 in a savings account that earns 5.2%fa compounded monthly. They deposited the same amount on his 5th, mm, and 15th birthdays. Determine the balance in the account on Ben's [13th birthday. a. $11 092.48 c. $8146.18 b. 510 081.38 d. $3433.59 39. Li has $63010 invest in a GlC at a rate of 9.5%i'a compounded quarterly. If she wants to have 51000, for how long should she invest her money? a. 2.5 years c. 5 years b. 4 years d. 3.5 years 40. Stan left the country for business and forgot to pay his credit card bill of $813.96 for 2 months after it was due. The credit card company charges l9'l/a'a compounded monthly. How much did Stan owe? a. $901.85 c. $| 237.61 1). $883.80 d. $l \"6.79

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!