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Some Applications of Permutations, Combinations, and Annuity

1. Find the effective rate of 8.5% compounded semianually.

2. Tony invested some money at 10% compounded quarterly at the end of three years his investment had grown to $2488.05. Find the initial investment.

3. Find the amount of an annuity with $2500 deposited quarterly at 8% for four years.

4. A sinking fund is established to obtain $75,000 in five years. The interest rate is 10% and payments are made quarterly. Find the periodic payments.

5. Find the present value of an annunity with annual payments of $1400 per year for seven years. The interest rate is 9% compounded annually.

6. A survey of 150 students showed that 90 were taking psychology, 75 were taking economics and 22 were taking neither. The number taking both was ______.

7. P(6,5) = ________

8. C(22,4) = _________

9. How many ways can a chair, a recording secretary and three other committee members be selected from a group of 8 people?

10. Hw many ways can first and second awards and three honorable mentioned awards be given to nine contestants?

11. U = {a, b, c, d, e, f, g, h}, A = {b, c, d}, A' = ___________________

Solution Summary

Several problems are discussed in this solutions which use the formulas and concepts of annuity, interest rate, compound interest, permutations and combinations.