Mai has contributed $175 at the end of each month into her company's employee retirement account for the past 10 years. Her employer has matched her contribution each month. If the account has earned interest at the rate of 3%/year compounded monthly over the 10-year period, determine how much Mai now has in her retirement account. (Round nearest cent.) $
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
- Mai has contributed $175 at the end of each month into her company's employee retirement account for the past 10 years. Her employer has matched her contribution each month. If the account has earned interest at the rate of 3%/year compounded monthly over the 10-year period, determine how much Mai now has in her retirement account. (Round nearest cent.)
$ - Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the purchase price, she has secured a loan from her bank at 5%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $71.32 at the end of each month for 36 months. What was the purchase price of the furniture? (Round nearest cent.)
$ - The Turners have purchased a house for $140,000. They made an initial down payment of $20,000 and secured a mortgage with interest charged at the rate of 2.5%/year on the unpaid balance. (Interest computations are made at the end of each month.) Assume that the loan is amortized over 30 years. (Round nearest cent.)
(a) What monthly payment will the Turners be required to make?
$
(b) What will be their total interest payment?
$
(c) What will be their equity (disregard depreciation) after 10 years?
$ - The management of a condominium association anticipates a capital expenditure of $120,000 in 5 years for the purpose of painting the exterior of the condominium. To pay for this maintenance, a sinking fund will be set up that will earn interest at the rate of 5.1%/year compounded monthly. Determine the amount of each (equal) monthly installment the association will be required to deposit into the fund at the end of each month for the next 5 years. (Round nearest cent.)
$ - Find the simple interest on a $1500 investment made for 2 years at an interest rate of 6%/year. What is the accumulated amount? (Round nearest cent.)
simple interest $ accumulated amount $ -
A bank deposit paying simple interest grew from an initial amount of $1000 to $1100 in 6 months. Find the interest rate.%/year
-
How many days will it take for $2000 to earn $16 interest if it is deposited in a bank paying simple interest at the rate of 4%/year? (365-day year. Round nearest full day.)days
- Find the accumulated amount after 6 years if $4000 is invested at 2%/year compounded continuously. (Round nearest cent.)
$ - The price of a new car is $24,000. Assume that an individual makes a down payment of 25% toward the purchase of the car and secures financing for the balance at the rate of 6%/year compounded monthly. (Round nearest cent.)(a) What monthly payment will she be required to make if the car is financed over a period of 24 months? Over a period of 48 months?
24 months | $ |
48 months | $ |
(b) What will the interest charges be if she elects the 24-month plan? The 48-month plan?
24-month plan | $ |
48-month plan |
$ |
- List the elements of the set in roster notation. (Enter EMPTY or ∅ for the empty set.)
{x | x is a letter of the word TALLAHASSEE}
- Let A and B be subsets of a universal set U and suppose n(U) = 370, n(A) = 150, n(B) = 80, and n(A ∩ B) = 50. Find the number of elements in the set.
n(Ac)elements
- Let A and B be subsets of a universal set U and suppose n(U) = 380, n(A) = 150, n(B) = 90, and n(A ∩ B) = 40. Find the number of elements in the set.
n(Ac ∩ B)elements
- Let A and B be subsets of a universal set U and suppose n(U) = 390, n(A) = 140, n(B) = 90, and n(A ∩ B) = 40. Find the number of elements in the set.
n(Ac ∩ Bc)elements
- Evaluate the quantity.
5 · P(7, 4) · C(10, 3)
- The Department of Foreign Languages of a liberal arts college conducted a survey of its recent graduates to determine the foreign language courses they had taken while undergraduates at the college. Of the 550 graduates
206 had at least one year of Spanish. 178 had at least one year of French. 141 had at least one year of German. 44 had at least one year of Spanish and French. 32 had at least one year of Spanish and German. 25 had at least one year of French and German. 9 had at least one year of all three languages. (a) How many of the graduates had at least 1yr of at least one of the three languages?
graduates
(b) How many of the graduates had at least 1yr of exactly one of the three languages?
graduates
(c) How many of the graduates had less than 1yr of any of the three languages?
graduates - In how many ways can 7 different compact discs be arranged on a shelf?
ways - In how many ways can three pictures be selected from a group of nine different pictures?
ways - How many three-digit numbers can be formed from the numerals in the set {1,2,3,4,5,6,7} if the following is true?
(a) Repetition of digits is not allowed
numbers
(b) Repetition of digits is allowed
numbers - Four soups, three entrées, and two desserts are listed on the "Special" menu at the Neptune Restaurant. How many different selections consisting of one soup, one entrée, and one dessert can a customer choose from this menu?
different selections
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