Q1. I can invest money at 5.75%. How much must I invest now to ensure that i have $5000 after 1 year?
NOTE: Please include effective out!
Q2. After an 8% wage increase a man’s salary is $32950. What was his wage before the increase?
NOTE: Please include effective out!
Q3. After a 20% reduction in sales prices a mountain bike was $230. How much did it cost before the reduction?
NOTE: Please include effective out!
Q4. $1500 is deposited into a savings account paying 7%p.a. interests. The interest is allowed to accumulate in the account. What is the amount of interest paid to the account at the end of the third year?
NOTE: Please include effective out!
Q5. I borrowed $130000 at 6% p.a. interest. What will be my monthly repayments?
NOTE: Please include effective out!
Q6. A car depreciates in value by 15% for the first year and for each later year by 12% of its value at the beginning of that. Calculate the percentage decrease in the value of the car after 3 years.
NOTE: Please include effective out!
THANKS! PLEASE HELP!
Bell FlatBlocker Max Bicycle Tube (24 Inch)Bell FlatBlocker MAX Tubes 24″ are self-sealing and have a satisfaction guarantee!… More >>
Disclaimer: This site is a paid affiliate of Amazon.com
DO YOUR HOMEWORK!
1] $5000 divided by 1.0575 = x
x=4728.13
2] 32950 divided by 1.08= 30509.26
3]zzzzzzzzzzzzz
1. Let the money be x.
0.0575x = 5000
Apportion both sides by 0.0575 to solve for x.
x = $86, 956. 52
2. Let the wage be x.
x + 0.08x = 32950
1.08x = 32950
Apportion both sides by 1.08.
x = $30, 509.26
3. Let the original amount be x.
x – 0.20x = 230
0.80x = 230
Apportion both sides by 0.80
x = $287.50
4. This is a compound interest conundrum.
To solve for the amount,
A = P(1 + r / 100)^ t where P is the principal, r is the rate and t is the time.
A = 1500(1 + 0.07)^ 3
A = 1500(1.26)
A = $1890
5. I = Prt
I = (130000)(0.06)(1)
I = 7800 per year
Apportion by 12 to solve for the monthly pays.
$ 650
6. Let the amount of the car be 1 000.
For the first year, the amount is 850 (1000 – [0.15][1000]).
For the second year, the amount is 748.
[Solution why 748] 850 x (1 – 0.12) = 748.
Do the same for the third year.
For the third year, the amount is 658.24.
The decrease is 1000 – 658.24 = 341.76. Change this to percent.
Answer: 3.4176 %