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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

The expert examines finite mathematics present values. The amount of interest by each deposit compounded annually is determined.Complete, Neat and Step-by-step Solutions are provided in the attached Excel file.

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