# File91

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The spot and 30-day forward rates for the Swedish krona are \$.1116 and \$.1119, respectively. Compute the annual percentage forward premium or discount on the krona.
The Nguyen family and the Roberts family each used their sprinklers last summer. The water output rate for the Nguyen family’s sprinkler was 35 L per hour. The water output rate for the Roberts family’s sprinkler was 20 L per hour. The families used their sprinklers for a combined total of 75 hours, resulting in a total water output of 2025 . How long was each sprinkler used?
Just before a referendum on a school budget, a local newspaper polls 386 voters to predict whether the budget will pass. Suppose the budget has the support of 53% of the voters. What is the probability that the newspaper’s sample will lead it to predict defeat?
Part b.
If 25 additional farms were sampled, about how many of these additional farms would you expect to have land and building values between \$700 per acre and \$1900 per acre?
Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. principal equals \$380 , rate equals2.75 %, 5.25 years
Determine the simple interest. (Assume 360 days in a year.) principal is \$613 rate is 0.043% and time is 9mths
use the ordinary annuity formula shown to the right to determine the accumulated amount in the annuity if \$70 is invested semiannually for 40 years at 5.5% compounded semiannually.
Question 4 Jessica invests \$250 each quarter in an ordinary annuity with a 5% interest rate compounded quarterly. Determine the accumulated amount in Jessica’s annuity after 25 years.
Question 5 Marcus receives an inheritance of \$ 2000. He decides to invest this money in a 19-year certificate of deposit (CD) that pays 4.0% interest compounded monthly. How much money will
Marcus receive when he redeems the CD at the end of the 19 years?
Question 6 Determine the simple interest. The rate is an annual rate. Assume 360 days in a year.
principal equals \$509.41, rate equals 8.1%, time equals 79 days
To save for graduate school, a student invests \$2360 semiannually in an ordinary annuity with 3 % interest compounded semiannually. Determine the accumulated amount in the student’s annuity after 30 years.
For a total accumulated amount of \$3540.05 , a principal of \$2000 , and a time period of 8 years, use the compound interest formula to find r, if interest is compounded monthly.
Question 9 Use the sinking fund formula shown to the right to determine the monthly payment needed to accumulate \$600, 000 with 8% interest are compounded monthly for 31 years. Round to the nearest cent
Question 10
Amount Financed (P)
Annual Percentage Rate (r)
Number of Payments per Year (n)
Time in Years (t)
\$1000
9%
12 number of payments
2years
Determine the monthly payment
use the simple interest formula to determine the missing value.
principal -equals\$946.24, rate =2.5% and interest is \$47.31. What is the time? Don’t round till final answer
Question 12 Travis Thompson uses his credit card to obtain a cash advance of \$600 to pay for his textbooks in medical school. The interest rate charged for the loan is 0.04734% per day. Travis repays the money plus the interest after 22 days.
a) Determine the interest charged for the cash advance.
b) When he repaid the loan, how much did he pay the credit card company?
Interest charged?
Question 13 Lucy needs a new roof on her house. The cash cost is \$8500. She decides to finance the project by paying 20% down, with the balance paid in 36 monthly payments of \$205.34. Determine the finance charge.
Question 14 A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows \$25, 000 for 4 years with a simple interest rate of 1.4%. Determine the amount of money the woman must repay after 4 years.
Question 15 The recommended daily allowance of niacin for adults is 20 mg. One serving of a certain breakfast cereal provides 8 mg of niacin. What percent of the recommended daily allowance of niacin does one serving of this cereal provide?
Question 16 Karen Gaines invested \$14, 000 in a money market account with an interest rate of 2.75% compounded semiannually. Four years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account?
Question 17 The population of a country has been decreasing for several decades. In 1990, the population was about 155 million people. In 2010, the population was about 152 million people. Determine the percent decrease in the country’s population during this time period.
Jack Fitzgerald wishes to purchase a used car that has a cash price of \$12 000. The installment terms include a down payment of \$3 000 and 48 monthly payments of \$218.
a) What finance charge will Jack pay?
b) What is the APR to the nearest half percent?
How far does it take for the driver of an average four door sedan traveling on flat ground to slow from 35 mph to 20 mph? How many seconds does it take to do so? This involves no emergency panic braking, just tapping the brakes to slow down his vehicle. Please show your work.