Exam 9: Natural Number Functions and Probability

Assume that $50 is deposited at the end of each period in an account in which interest is compounded at the frequency k = 12, at an annual rate of 9%.Find the accumulated amount after 3 years.Round to the Nearest cent.

Find the 4th term in the binomial expansion. $( x + y ) ^ { n }$

Assume that $500 is deposited at the end of each year in an account in which interest is compounded annually at a rate of 7%.Find the accumulated amount after 5 years.Round to the nearest cent.

Find the next term of the sequence. $8,27,64,125 , \ldots$

As Jorge starts working now at the age of 20, he decides to make regular contributions to a savings account.He wants to accumulate enough by age 55 to fund an annuity of $6,200 per month until age 80. What should his monthly contributions be? Assume that both accounts pay 7.25%, compounded Monthly.Round to the nearest cent.

To pay for college, a student borrows $5,000 interest-free from his father.If he pays his father back at the rate of $200 per month, how much will he still owe after 11 months?

The last payment of a home mortgage is a balloon payment of $45,000 which the owner is scheduled to pay in 10 years.How much extra should he start including in each monthly payment to eliminate the Balloon payment? His mortgage is at 8.6%, compounded monthly.Round to the nearest cent.

Find the $( r + 1 )$ th term in the binomial expansion. $( c + d ) ^ { n }$

Find the effective interest rate given an annual rate of 9% and a compounding frequency of 2.Round your answer to two decimal places.

The probability of rain today is 0.3.If it rains, the probability that Bill will forget his raincoat is 0.7. Find the probability that Bill will get wet.

The 11th term of an arithmetic sequence is 75, and the first term is -5.Find the common difference.

Find the amount of each regular payment to provide $14,000 in 10 years, at an annual rate r = 8%, compounded annually.

Bank One offers a passbook account with a 4.75% annual rate, compounded quarterly.Bank Two offers a money market account at 4.5%, compounded monthly.Find the better growth by calculating the Effective rates.What is the greater effective rate?

Find the next term of the sequence. $64,125,216,343 , \ldots$

Select the correct inequality.

For a 7-day Hawaii vacation, Beth borrowed $2,310 for 7 months at an annual rate of 11.1%, compounded monthly.What did she owe?

As Jorge starts working now at the age of 23, he decides to make regular contributions to a savings account.He wants to accumulate enough by age 55 to fund an annuity of $6,900 per month until age 80. What should his monthly contributions be? Assume that both accounts pay 8.5%, compounded Monthly.Round to the nearest cent.

The number of students studying algebra at State College is 593.The Department Chair expects enrollment to increase 11% each year.How many professors will be needed in 7 years to teach algebra If one professor can handle 65 students?

Find the r th term in the binomial expansion. $( z + y ) ^ { n }$

When Jim retires in 14 years, he expects to live lavishly on the money in a retirement account that is earning 9% interest, compounded semiannually.If the account now contains $147,000, how much will Be available at retirement?