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Question 1 (10 points) 1. You decide to invest $15000 into a bank account that that is compounding its interest monthly. Assuming the bank is paying out an interest rate of the current prime rate - 1% (In the event that prime - 1% is less than 1%, use 1%), and the investment is for 5 years a) How much money (total) do you have after the 5 years pass? b) How much do you earn in interest over the 5 years? Question 2 (10 points) 2. You wish to have $500,000 saved up in 30 years. Assuming that you can get an interest rate of prime + 5% on your investment (compounded quarterly.) a) How much do you need to invest today to have $500,000 30 years in the future? b) How much of that total is interest? Question 3 (10 points) 3. You borrow $50,000 at 5% interest (compounded daily). a) After 1 year passes, you pay off $25000 of the loan. How much do you still owe on the loan? b) After another year passes, you wish to pay off the loan. How much do you need to pay to pay it off? Essay (15 points) 4. While everyone dreams of high interest rates for investments, usually high interest rates come with other disadvantages. Using the interest or other sources, research and write an essay on the advantages and disadvantages of higher interest rates on investments. Look at factors like risk, reward, and possible other things that would change to balance out the higher interest rates. Requirements for essay
• You must cite and reference at least one source (book, website, periodical) using APA format. The required website counts as one source.
In a sample batch of 36 mechanical pencils it is assumed that 10 are defective. If 5 mechanical pencils are randomly selected, what is the probability that none of them are defective?
what fraction of the time will the stock increase in price?
Racing cars driven by Chris and Kelly are side by side at the start of a race. The table shows the velocities of each car (in mph) during the first 10 seconds of the race. Use the Midpoint Rule to estimate how much farther Kelly travels than Chris..
What is the shadow price for the fiber constraint's RHS? Over what range of values is it valid?
Adams High School has 165 freshman, 177 sophomores, 214 juniors, and 227 seniors. If two students are selected at random without replacement, what is the probability of selecting a freshman on the first selection and a senior on the second selecti..
A bacteria population starts with 400 and grows at a rate of r(t)=(450.268)e^(1.12567t)bacteria per hour. How many bacteria will there be after 3 hours ?
It is estimated that the demand for a manufacturer's product is increasing exponentially at an instantaneous rate of 3% per year. If the current demand is increasing by 8000 units per year.
imagine there are 500 people lined up in a row each person is holding out one palm and it is face down. then every
A postcard is 6 in. by 4 in. A printing shop will enlarge it so that the longer side is any length up to 3 ft. Find the dimensions of the biggest enlargement.
A balloon is rising at a rate of 2 ft/sec. When the balloon is 148 ft above the ground a bike is moving at a rate of 20 ft/sec under it. How fast is the distance between the bike and balloon increasing 6 seconds later?
Construct a comparative boxplot. Does it suggest that there is a difference between true average extensibility for high-quality fabric specimens and that for poor-quality specimens?
Use geometric techniques to estimate the percentage full. Find an upper and lower bound to the percentage full.
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