Use the present value formula to determine the amount to be invested now, or the present value needed.
The desired accumulated amount is $34,000 after 11 years invested in an account with 7% interest compounded semiannually
Question 20 options:
A)
$16,153.16
B)
$18,048.88
C)
$15,951.12
D)
$72,471.39
To determine the amount to be invested now, we can use the present value formula:
PV = FV / (1 + r/n)^(n*t)
Where:
PV = Present Value
FV = Future Value (desired accumulated amount)
r = interest rate per compounding period (expressed as a decimal)
n = number of compounding periods per year
t = number of years
Given:
FV = $34,000
r = 7% = 0.07 (7% interest rate per annum)
n = 2 (semiannual compounding)
t = 11 years
Using the formula:
PV = 34000 / (1 + 0.07/2)^(2*11)
PV = 34000 / (1 + 0.035)^(22)
PV = 34000 / (1.035)^22
PV ≈ $15,951.12
Therefore, the amount to be invested now, or the present value needed is approximately $15,951.12. Answer choice C) is correct.
Solve the equation.
(y - 5) - (y + 2) = 6y
Question 21 options:
A)
{- (7/5)}
B)
{- (2/3)}
C)
{- (7/6)}
D)
{- (7/3)}
To solve the equation (y - 5) - (y + 2) = 6y, we can simplify it step by step:
Start by removing the parentheses using the distributive property:
y - 5 - y - 2 = 6y
Combine like terms on the left side:
-7 = 6y
Next, isolate the variable "y" by dividing both sides of the equation by 6:
-7/6 = y
Therefore, the solution to the equation is:
y = -7/6
So the correct answer is C) {- (7/6)}.
Solve the problem. Round to the nearest tenth if necessary.
Last year, Maria earned $362 per week. This year, her salary increased to $398 per week. What is the percent of increase?
Question 18 options:
A)
91%
B)
9.9%
C)
9%
D)
90.1%
To find the percent increase, we can use the following formula:
Percent Increase = ((New Value - Old Value) / Old Value) * 100
Given:
Old Value (last year's salary) = $362
New Value (this year's salary) = $398
Using the formula:
Percent Increase = ((398 - 362) / 362) * 100
Percent Increase = (36 / 362) * 100
Percent Increase ≈ 9.9%
Therefore, the percent increase is approximately 9.9%. The correct answer is B) 9.9%.
Find the range for the set of data given.
two way table ( (Value Frequency)(14 2)(21 6)(22 3)(29 2)(32 3) )
Question 22 options:
A)
19
B)
17
C)
18
D)
46
To find the range for the set of data given, we need to determine the difference between the highest and lowest values.
Given data:
(14, 2)
(21, 6)
(22, 3)
(29, 2)
(32, 3)
The lowest value is 14, and the highest value is 32. The difference between the highest and lowest values is 32 - 14 = 18.
Therefore, the range for the set of data given is 18. The correct answer is C) 18.
Find the slope of the line and sketch the graph.
3x + 4y = 21
A)
Slope: (3/4)
B)
Slope: - (4/3)
C)
Slope: - (3/4)
D)
Slope: (4/3)
To find the slope of the line represented by the equation 3x + 4y = 21, we need to rewrite the equation in slope-intercept form, y = mx + b, where "m" represents the slope.
Starting with the original equation:
3x + 4y = 21
First, isolate "y" on one side of the equation by subtracting 3x from both sides:
4y = -3x + 21
Next, divide both sides by 4 to solve for "y":
y = (-3/4)x + (21/4)
Comparing the obtained equation with the slope-intercept form, we can see that the slope, "m," is -3/4.
Therefore, the correct answer is C) Slope: - (3/4).
Use a proportion to solve the problem.
The ratio of the distances a 7-iron and a 5-iron will drive a golf ball is 5 to 6. If a golfer averages 110 yards with a 7-iron, how far should he average with a 5-iron?
Question 26 options:
A)
132 yards
B)
121 yards
C)
99 yards
D)
92 yards