Exam 3: Mathematics of Finance

An investor purchased 150 shares of a stock at $15.80 per share. The investor holds the stock for 39 weeks and then sells the stock for $19.25 per share. Use the commission schedule for this company given below to find the annual rate of interest earned by this investor. Express your answer as a percentage, correct to one decimal place.

Solve for the missing value. Round to four decimal places: -n = 30; i = 0.03; PMT = $100; PV = ?

Solve the problem. Assume that the minimum payment on a credit card is the greater of $27 or 3% of the unpaid balance: -Find the minimum payment on an unpaid balance of $769.52.

How long will it take for $ 9500 to grow to $ 35,400 at an interest rate of 10.1% if the interest is compounded continuously? Round the number of years to the nearest hundredth.

Find the rate of interest required to achieve the conditions set forth: -A = $ 32,000 P = $8,000 T = 20 years Compounded annually

Find the payment necessary to amortize the loan: -$ 12,200; 12% compounded monthly; 48 monthly payments

A bank account starts with $1,000 in it. Interest is paid at 6% annual interest, compounded monthly. Graph the exact function for the amount in the account over the first 12 months. Use vertical scale

Solve the problem. Round dollar amounts to the nearest cent. Use 360 days. -Polson Associates bought a new computer system. To pay for the system, they borrowed from the bank at interest for 130 days. Find the simple interest.

Find the rate of interest required to achieve the conditions set forth: -If Jay bought a lot for $8,000 and sold it 15 years later for $24,000, what was her percentage rate of return on this investment if it was compounded annually?

Convert the given interest rate to decimal form if it is given as a percentage, and to a percentage if it is given in decimal form: -0.25 to percent

Find the compound interest earned. Round to the nearest cent: -$700 at 8% compounded semiannually for 4 years

Find the compound interest earned. Round to the nearest cent: -$600 at 5% compounded quarterly for 1 years

Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use a 365-day year: -Month: May (31 days) Previous month's balance: $ 950 Interest rate: 18%

Solve the problem. Assume no new purchases are made with the credit card. -The annual interest rate on a credit card is 16.99%. If a payment of $100.00 is made each month, how long will it take to pay off an unpaid balance of $1746.42?

The bacteria in a 11-liter container double every 3 minutes. After 55 minutes the container is full. How long did it take to fill a quarter of the container?

Use the future value formula to find the indicated value. Round to three decimal places: -n = 15; i = 0.04; PMT = $1; FV = ?

Make the indicated conversion. Assume a 360-day year as needed: -8 months to simplified fraction of a year

Solve the problem. Assume that the minimum payment on a credit card is the greater of $27 or 3% of the unpaid balance: -Find the minimum payment on an unpaid balance of $1456.38.

What is the annual percentage yield (APY) for money invested at the given annual rate? Round results to the nearest hundredth of a percent: -5% compounded semiannually

Convert the given interest rate to decimal form if it is given as a percentage, and to a percentage if it is given in decimal form: -11.6% to decimal