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Anonymous

i need this exam in 1 hours, have to submit. please who ever it take has to finish this.

BUQU 1130 – Business Mathematics
Test 2
Instructions:
•
•
Ensure student name and number appear on the top of this question sheet.
For each question, you must write down the inputs. You can copy/paste the following set
of inputs:
Mode:
P/Y =
C/Y =
N=
I/Y =
PV =
PMT =
FV =
NOM =
C/Y =
EFF =
Make sure you mention what you are computing.
•
•
•
•
All your answers must be shown in the space provided along the right side. Show your work
in the space below the question.
All answers must:
o Show appropriate units
o Keep everything in nine decimals, with only final answers rounded.
o Show the appropriate number of decimal places (percentages should be shown with two
decimal places as in 12.25%, money as dollars and cents as in $6.94)
Keep your rough works. I may ask random students to send their work/timelines to me.
KPU Code of honesty applies to this exam. I trust you to adhere to it, even in the strange
circumstances we are finding ourselves in.
1.
You borrowed $10000.00 two years ago at 10.56% p.a. compounded monthly and scheduled to pay
$2000.00 three years from now and $5500.00 six years from now. How much will you owe ten years
from now?
1 ___________________
2.
Answer the following independent/unrelated questions:
a) To save $16,500.00 in six years by making payment of $500.00 at the end of every quarter for six
years, what nominal rate of interest (compounded monthly) would you require?
Mode:
P/Y =
C/Y =
N=
I/Y =
PV =
PMT =
FV =
NOM =
C/Y =
EFF =
2b _____________
3.
For the last ten years Joe has made deposits of $285.00 at the end of every six months
earning interest at 5.7% compounded annually. He leaves the accumulated balance for
another ten years at 7% compounded quarterly.
a) What will the balance be in Joe's account at the end of the second ten-year period?
3a ______________
b) How much did Joe contribute?
3b _____________
c) How much will be interest?
3c ____________
4.
A sum of money is deposited at the end of every month for 15 years at 6.5% compounded
quarterly. After the last deposit, interest for the account is to be 4% compounded monthly and
the account is to be paid out by end-of-quarter payments of $4800 over six years.
a) How much should there be in the account right before the withdrawals of $4800 begin?
4a______________
b) Based on your answer in (a), what is the size of monthly deposit?
4b______________
5.
Mohammad wants to buy a new car. He wants to save $6000 for down payment and finance the rest
of the price.
a) If he can put aside $300 per month for the down payment in an account paying 6.2% compounded
annually, how long will it take him to save $6000? Give your answer in years and months.
5a_________________
b) After saving $6000, Mohammad goes to a dealer to buy the car he wants. He ends up signing a
contract the requires him paying $320 per month for the next four years at 3.99% compounded
monthly. What is the cash price of the car he bought?
5b_________________
6.
Consider a six-year $8500 promissory note with 6.4% interest rate, compounded monthly.:
a) What is the maturity value of the note?
6a _____________
b) What are the proceeds the note, seven months before maturity if the market rate is 6%
compounded annually?
6b _____________
GOOD LUCK
...

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