Question: Need someone's help! It's grade 11 college math on present and future value compund InterestAlso some Exponential problems and Personal Finance. This is all found
Need someone's help! It's grade 11 college math on present and future value "compund Interest"Also some Exponential problems and Personal Finance. This is all found in chapter 7, 8 and 9 in the grade 11 college Math book. I just need someone to answer from number 28-40 if it's a, b, c or d. I calculated some of the answers. I want to make sure I'm on the right track. please easy explanation would be best. Thanks soooo much! hope you have a wonderful day :)
28. Determine the present value of a loan of $24 150 that is due in 7 years. The interest rate is 8%r'a compounded quarterly. a. $l4 09L29 C. $2I 024.03 1). 52799.32 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 rture value b. Divide the future value by the factor that includes the interest rate c. Multiply the factor that includes the intermt rate by the future 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 8.5% compounded annually, what sum of money does he need now to buy the condominium? a. $5] 927.75 C. $T3 824.83 b. 565 912.34 d. $86 588.91 Thinking and Inquiry Multiple Choice Identgfv the choice that best completes the statement or answers the question 3]. Jaime uses the formula P = 93500 + [1073f 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 ct. 72 32. On Jill's 20m 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. 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 525th compounded quarterly. How much of the $32 000 will be interest? a. $20 499.73 C. $365.88 1). $7223.53 d. $2019}?! 34. Phoebe borrowed $9000 from her employer to purchase a new car. The employer gave her an interest rate of 1.5%r'a compounded quarterly. The loan is to he paid back at the end of 6 years. What will be the value for] in the TVM Solver? a. 0.375 c. 1.5 b. 0.3?5 '1 l.5 35. Monica has negotiated a salary increase that will give her a salary of545 760.99 in three years' time. If she is non.r making $42 000 per year, what is the agreed upon yearly rate of increase? a. 1.3% c. 2.9% b. 2.4% til. 33% 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 8%ta compounded quarterly. Before that, her account paid T.3%ta commanded quarterly for 2 years. If she only made one deposit 5 years ago, determine the original principal. at. $46? c. $489 b. $564 :1. $522 38. On the day Ben was both, his grandparents deposited $800 in a savings account that cams 5.2%ta compounded monthly. They deposited the same amount on his 5th, Ith. and lSth birthdays. Ikten'nine the balance in the account on Ben's 18th birthday. a. 511 092.48 c. $8146.18 1). 510 031.38 d. $3433.59 39. Li has 5630 to invest in a GlC at a rate of 9.5%ta compounded quarterly. If she wants to have Stone, for how long should she invest her money? a. 2.5 years c. 5 years b. 4 years d. 3.5 years 40. Stan le 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 [Wain compounded monthly. How much did Stan owe? a. $901.85 c. $1237.61 1:. $88180 d. $114639