Mathematical Excursions (MindTap Course List)
Mathematical Excursions (MindTap Course List)
4th Edition
ISBN: 9781305965584
Author: Richard N. Aufmann, Joanne Lockwood, Richard D. Nation, Daniel K. Clegg
Publisher: Cengage Learning
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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 …
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 experime…
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Chapter 11.2, Problem 48ES

Present Value A couple plans to invest money for their child’s college education. What principal must be deposited by the parents when their child turns 10 in order to have $30,000 when the child reaches the age of 18? Assume that the money earns 8% interest, compounded quarterly.

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Chapter 11 Solutions

Mathematical Excursions (MindTap Course List)

Ch. 11.1 - Find the amount of interest you owe for the third...Ch. 11.1 - How much of your payment goes toward reducing the...Ch. 11.1 - How much do you owe after making the payment for...Ch. 11.1 - Prob. 4EECh. 11.1 - Prob. 5EECh. 11.1 - Prob. 6EECh. 11.1 - Prob. 7EECh. 11.1 - Explain how to convert a number of months to a...Ch. 11.1 - Explain how to convert a number of days to a...Ch. 11.1 - Prob. 3ES
Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 6ESCh. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 9ESCh. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 14ESCh. 11.1 - Prob. 15ESCh. 11.1 - Prob. 16ESCh. 11.1 - Prob. 17ESCh. 11.1 - Prob. 18ESCh. 11.1 - Prob. 19ESCh. 11.1 - Use the formula A=P(I+) to calculate the maturity...Ch. 11.1 - Use the formula A=P(I+) to calculate the maturity...Ch. 11.1 - Prob. 22ESCh. 11.1 - Prob. 23ESCh. 11.1 - Prob. 24ESCh. 11.1 - Prob. 25ESCh. 11.1 - Prob. 26ESCh. 11.1 - Calculate the simple interest rate....Ch. 11.1 - Prob. 28ESCh. 11.1 - Calculate the simple interest rate....Ch. 11.1 - Simple Interest Calculate the simple interest...Ch. 11.1 - Simple Interest You deposit $1500 in an account...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Future Value You deposit $880 in an account paying...Ch. 11.1 - Future Value You deposit $750 in an account paying...Ch. 11.1 - Simple Interest Rate The simple interest charged...Ch. 11.1 - Simple Interest Rate The simple interest charged...Ch. 11.1 - Simple Interest Rate The maturity value of a...Ch. 11.1 - Simple Interest Rate Find the simple interest rate...Ch. 11.1 - Late Payments Your property tax bill is $1200. The...Ch. 11.1 - Late Payments Your electric bill is $132. You are...Ch. 11.1 - Certificate of Deposit if you withdraw part of...Ch. 11.1 - Maturity Value $10,000 is borrowed for 140 days at...Ch. 11.1 - Prob. 48ESCh. 11.1 - On July 31. at 4 P.M., you open a money market...Ch. 11.2 - The CPI for 2010 was 218.056. What percent of the...Ch. 11.2 - The CPI for 2014 was 236.736. The percent increase...Ch. 11.2 - Prob. 3EECh. 11.2 - Prob. 4EECh. 11.2 - If a movie ticket cost $9 in 2015, what would a...Ch. 11.2 - Prob. 6EECh. 11.2 - Prob. 1ESCh. 11.2 - Prob. 2ESCh. 11.2 - Prob. 3ESCh. 11.2 - Prob. 4ESCh. 11.2 - Prob. 5ESCh. 11.2 - Prob. 6ESCh. 11.2 - Prob. 7ESCh. 11.2 - Prob. 8ESCh. 11.2 - Prob. 9ESCh. 11.2 - Prob. 10ESCh. 11.2 - Prob. 11ESCh. 11.2 - Prob. 12ESCh. 11.2 - Prob. 13ESCh. 11.2 - Prob. 14ESCh. 11.2 - Prob. 15ESCh. 11.2 - Prob. 16ESCh. 11.2 - Prob. 17ESCh. 11.2 - Prob. 18ESCh. 11.2 - Calculate the future value. P=22,000,r=9...Ch. 11.2 - Calculate the future value. P=5200,r=8.1...Ch. 11.2 - Calculate the present value. A=25,000,r=10...Ch. 11.2 - Prob. 22ESCh. 11.2 - Prob. 23ESCh. 11.2 - Prob. 24ESCh. 11.2 - Prob. 25ESCh. 11.2 - Prob. 26ESCh. 11.2 - Compound Amount Calculate the compound amount when...Ch. 11.2 - Prob. 28ESCh. 11.2 - Compound Amount If you leave $2500 in an account...Ch. 11.2 - Prob. 30ESCh. 11.2 - Prob. 31ESCh. 11.2 - Prob. 32ESCh. 11.2 - Prob. 33ESCh. 11.2 - Compound Interest How much interest is earned in 5...Ch. 11.2 - Prob. 35ESCh. 11.2 - Prob. 36ESCh. 11.2 - Prob. 37ESCh. 11.2 - Compound Interest How much money should be...Ch. 11.2 - Prob. 39ESCh. 11.2 - Prob. 40ESCh. 11.2 - Prob. 41ESCh. 11.2 - Prob. 42ESCh. 11.2 - Prob. 43ESCh. 11.2 - Prob. 44ESCh. 11.2 - Loans To help pay your college expenses, you...Ch. 11.2 - Loans You borrow $6000 to help pay your college...Ch. 11.2 - Prob. 47ESCh. 11.2 - Present Value A couple plans to invest money for...Ch. 11.2 - Present Value You want to retire in 30 years with...Ch. 11.2 - Prob. 50ESCh. 11.2 - Compound Amount You deposit S5000 in a two-year...Ch. 11.2 - Prob. 52ESCh. 11.2 - Prob. 53ESCh. 11.2 - Inflation The average cost of housing in...Ch. 11.2 - Inflation Suppose your salary in 2015 is $40.000....Ch. 11.2 - Prob. 56ESCh. 11.2 - Inflation In 2014, you purchase an insurance...Ch. 11.2 - Prob. 58ESCh. 11.2 - Inflation A retired couple have a fixed income of...Ch. 11.2 - Inflation A retired couple have a fixed income of...Ch. 11.2 - Prob. 61ESCh. 11.2 - Prob. 62ESCh. 11.2 - Prob. 63ESCh. 11.2 - Prob. 64ESCh. 11.2 - Prob. 65ESCh. 11.2 - Prob. 66ESCh. 11.2 - Prob. 67ESCh. 11.2 - Prob. 68ESCh. 11.2 - Prob. 69ESCh. 11.2 - Prob. 70ESCh. 11.2 - Prob. 71ESCh. 11.2 - Prob. 72ESCh. 11.2 - Prob. 73ESCh. 11.2 - Prob. 74ESCh. 11.2 - Prob. 75ESCh. 11.2 - Prob. 76ESCh. 11.2 - Prob. 77ESCh. 11.2 - Calculate the purchasing power using an annual...Ch. 11.2 - Prob. 79ESCh. 11.2 - Prob. 80ESCh. 11.2 - Calculate the purchasing power using an annual...Ch. 11.2 - Prob. 82ESCh. 11.2 - Prob. 83ESCh. 11.2 - Effective Interest Rate Beth Chipman has money in...Ch. 11.2 - Effective Interest Rate Blake Hamilton has money...Ch. 11.2 - Annual Yield One bank advertises an interest rate...Ch. 11.2 - Prob. 87ESCh. 11.2 - Annual Yield Which investment has the higher...Ch. 11.2 - Annual Yield One hank advertises an interest rate...Ch. 11.2 - Continuous Compounding In our discussion of...Ch. 11.3 - Suppose you decide to obtain a 4-year lease for a...Ch. 11.3 - Prob. 2EECh. 11.3 - Jorge Cruz obtains a 3-year lease for an economy...Ch. 11.3 - Suppose you obtain a 5-year lease for a Porsche...Ch. 11.3 - Prob. 5EECh. 11.3 - Prob. 6EECh. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Prob. 4ESCh. 11.3 - Average Daily Balance A credit card account had a...Ch. 11.3 - Prob. 6ESCh. 11.3 - Prob. 7ESCh. 11.3 - Finance Charges A charge account had a balance of...Ch. 11.3 - Prob. 9ESCh. 11.3 - Finance Charges On May 1, a credit card account...Ch. 11.3 - You may want to use the spreadsheet program...Ch. 11.3 - You may want to use the spreadsheet program...Ch. 11.3 - Prob. 13ESCh. 11.3 - Prob. 14ESCh. 11.3 - Use the approximate annual percentage rate...Ch. 11.3 - Prob. 16ESCh. 11.3 - Monthly Payments Arrowoods Camera Stare advertises...Ch. 11.3 - Monthly Payments Optics Mart offers a Meade ETX-LS...Ch. 11.3 - Prob. 19ESCh. 11.3 - Buying on Credit Waterworid marina offers a...Ch. 11.3 - Buying on Credit After becoming a commercial...Ch. 11.3 - Buying on Credit Donald Savchenko purchased new...Ch. 11.3 - Prob. 23ESCh. 11.3 - Car Payments Suppose you negotiate a selling price...Ch. 11.3 - Car Payments Margaret Hsi purchases a classic car...Ch. 11.3 - Prob. 26ESCh. 11.3 - Car Payments Suppose you purchase a car for a...Ch. 11.3 - Car Payments Adele Paolo purchased an SUV for a...Ch. 11.3 - Loan Payoffs Angela Montery has a 5-year car loan...Ch. 11.3 - Loan Payoffs Suppose you have a 4-year car loan at...Ch. 11.3 - Loan Payoffs Suppose you have a 4-year car loan at...Ch. 11.3 - Loan Payoffs Mine Li has a 3-year car loan at an...Ch. 11.3 - Student Loans Samuel Ng received a 5-year...Ch. 11.3 - Student Loans Melissa Hernandez received an 8-year...Ch. 11.3 - Student Loans Angelica Reardon received a 5-year...Ch. 11.3 - Student Loans Jeffery Wei received a 6-year...Ch. 11.3 - Prob. 37ESCh. 11.3 - Credit Card Debt The APR loan payoff formula can...Ch. 11.3 - Prob. 39ESCh. 11.4 - The face value of a Treasury bill is $30,000. The...Ch. 11.4 - The face value of a 91-day Treasury bill is...Ch. 11.4 - A company invests in a 29-day. $60000 United...Ch. 11.4 - A $40,000 United States Treasury bill, purchased...Ch. 11.4 - Annual Dividends A stock pays an annual dividend...Ch. 11.4 - Prob. 2ESCh. 11.4 - Annual Dividends Calculate the dividends paid to a...Ch. 11.4 - Annual Dividends Calculate the dividends paid to a...Ch. 11.4 - Dividend Yield Find the dividend yield for a stock...Ch. 11.4 - Dividend Yield The Blackburn Computer Company has...Ch. 11.4 - Dividend Yield A stock that pays an annual...Ch. 11.4 - Dividend Yield The Moreau Corporation is paying an...Ch. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 10ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 12ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 14ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 16ESCh. 11.4 - Bonds A bond with a face value of $6000 and a 4.2%...Ch. 11.4 - Prob. 18ESCh. 11.4 - Prob. 19ESCh. 11.4 - Bonds A bond has a $12,000 face value, an 8-year...Ch. 11.4 - Mutual Funds A mutual fund has total assets of...Ch. 11.4 - Prob. 22ESCh. 11.4 - Mutual Funds A mutual fund has total assets of $15...Ch. 11.4 - Prob. 24ESCh. 11.4 - 25. Mutual Funds A mutual fund has $500 million...Ch. 11.4 - Prob. 26ESCh. 11.4 - Prob. 27ESCh. 11.4 - Prob. 28ESCh. 11.4 - Prob. 29ESCh. 11.5 - Calculate the monthly payment for the loan.Ch. 11.5 - Prob. 2EECh. 11.5 - Prob. 3EECh. 11.5 - Prob. 4EECh. 11.5 - Prob. 5EECh. 11.5 - Prob. 6EECh. 11.5 - Prob. 7EECh. 11.5 - Prob. 8EECh. 11.5 - Prob. 9EECh. 11.5 - Mortgages You buy a $258,000 home with a down...Ch. 11.5 - Prob. 2ESCh. 11.5 - Points Clarrisa Madison purchases a home and...Ch. 11.5 - Points Jerome Thurber purchases a home and secures...Ch. 11.5 - Closing Costs The purchase price of a home is...Ch. 11.5 - Closing Costs The purchase price of a home is...Ch. 11.5 - Closing Costs The purchase price of a condominium...Ch. 11.5 - Prob. 8ESCh. 11.5 - Mortgage Payments Find the mortgage payment for a...Ch. 11.5 - Prob. 10ESCh. 11.5 - Prob. 11ESCh. 11.5 - Prob. 12ESCh. 11.5 - Prob. 13ESCh. 11.5 - Mortgage Payments Richard Miyashiro purchased a...Ch. 11.5 - Interest Paid Ira Patton purchased a home and...Ch. 11.5 - Interest Paid Leona Jefferson purchased a home and...Ch. 11.5 - Principal and Interest Marcel Thiessen purchased a...Ch. 11.5 - Prob. 18ESCh. 11.5 - Prob. 19ESCh. 11.5 - Principal and Interest Fay Nguyen purchased a...Ch. 11.5 - Loan Payoffs After making payments of $913.10 for...Ch. 11.5 - Prob. 22ESCh. 11.5 - Loan Payoffs Iris Chung has a 15-year mortgage...Ch. 11.5 - Prob. 24ESCh. 11.5 - Total Monthly Payment A homeowner has a mortgage...Ch. 11.5 - Prob. 26ESCh. 11.5 - Prob. 27ESCh. 11.5 - Prob. 28ESCh. 11.5 - Prob. 29ESCh. 11.5 - Prob. 30ESCh. 11.5 - Mortgage Loans The Mendez family is considering a...Ch. 11.5 - Prob. 32ESCh. 11.5 - Prob. 33ESCh. 11.5 - Affordability You have saved $18,000 for a down...Ch. 11.5 - Prob. 35ESCh. 11.5 - Amortization Schedules Suppose you have a 30-year...Ch. 11.5 - Prob. 37ESCh. 11.5 - Prob. 38ESCh. 11.5 - Prob. 39ESCh. 11 - Simple Interest Calculate the simple interest due...Ch. 11 - Prob. 2RECh. 11 - Prob. 3RECh. 11 - Maturity Value Calculate the maturity value of a...Ch. 11 - 5. Simple Interest Rate The simple interest...Ch. 11 - Prob. 6RECh. 11 - Compound Amount What is the compound amount when...Ch. 11 - Prob. 8RECh. 11 - Compound Interest Calculate the amount of interest...Ch. 11 - Prob. 10RECh. 11 - Loans To help pay your college expenses, you...Ch. 11 - Present Value A couple plans to save for their...Ch. 11 - Prob. 13RECh. 11 - Bonds A bond with a $20,000 face value has a 4.5%...Ch. 11 - Prob. 15RECh. 11 - Prob. 16RECh. 11 - Prob. 17RECh. 11 - Annual Yield Which has the higher annual yield....Ch. 11 - Average Daily Balance A credit card account had a...Ch. 11 - Prob. 20RECh. 11 - APR Arlene McDonald borrows $1500 from a bank that...Ch. 11 - Prob. 22RECh. 11 - Prob. 23RECh. 11 - Monthly Payments Abeni Silver purchases a Samsung...Ch. 11 - Car Payments Suppose that you decide to purchase a...Ch. 11 - Loan Payoffs Dasan Houston obtains a $28,000,...Ch. 11 - Prob. 27RECh. 11 - Mutual Funds A mutual fund has total assets of $34...Ch. 11 - Prob. 29RECh. 11 - Prob. 30RECh. 11 - Prob. 31RECh. 11 - Prob. 32RECh. 11 - Student Loans A student receives a non-subsidized...Ch. 11 - Simple Interest Calculate the simple interest due...Ch. 11 - Prob. 2TCh. 11 - Prob. 3TCh. 11 - Simple Interest Rate The simple interest charged...Ch. 11 - Compound Amount What is the compound amount when...Ch. 11 - Prob. 6TCh. 11 - Prob. 7TCh. 11 - Present Value A young couple wants to save money...Ch. 11 - Dividend Yield A stock that has a market value of...Ch. 11 - Bonds Suppose you purchase a $5000 bond that has a...Ch. 11 - Prob. 11TCh. 11 - Prob. 12TCh. 11 - Prob. 13TCh. 11 - Prob. 14TCh. 11 - APR Suppose that vu purchase a 2-in-I laptop...Ch. 11 - Monthly Payments Technology Pro offers a new...Ch. 11 - Prob. 17TCh. 11 - Mutual Funds A mutual fund has total assets of $42...Ch. 11 - Monthly Payments Kalani Canfield purchases a...Ch. 11 - Closing Costs The purchase price of a house is...Ch. 11 - Mortgage Payments and Loan Payoffs Bernard Mason...Ch. 11 - Prob. 22T
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