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# Finite Mathematics

5 Mathematics of Finance
10. Find the amount of interst earned by each deposit \$3954 at 8% compounded annually for 12 years.

20. Find the present value of each amount. Write the first four terms of the geometric sequence with a= 4 and r =1/2

28. Find the future value of each annuity. \$500 depoisited at the end of each 6 month period for 8 years; money earns 6% compounded semiannually

42.Find the present value of each ordinary annuity. Payments of \$877.34 monthly for 17 months at 9.4% compounded monthly

56. An accountant loans \$ 28,000 at simple interest to her business. The loan is at 11.5% and earns \$3255 interest. Find the time of the loan in months.

62. a small resort must add a swimming pool to compete with a new resort built nearby. The pool will cost \$28,000. The resort borrows the money and agrees to repay it with equal payments at the end of each quarter for 6 and 1/2 years at an interest rate of 12% compounded quartley. Find the amount of each payment.

#### Solution Summary

Complete, Neat and Step-by-step Solutions are provided in the attached Excel file.

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