Questions from Financial Algebra

Q: Island Bank is advertising a special 1.55% APR for

Island Bank is advertising a special 1.55% APR for long-term CDs. Manny takes out a 1-year CD for $40,000. The interest is compounded daily. Find the annual percentage yield for Manny’s account to the...

Q: Interpret the quote in terms of what you have learned about essential

Interpret the quote in terms of what you have learned about essential and discretionary expenses.

Q: Examine each scatter plot. Identify each as showing a positive correlation

Examine each scatter plot. Identify each as showing a positive correlation, a negative correlation, or no correlation.

Q: Jimmy invests $4,000 in an account that pays 2

Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What is his balance, to the nearest cent, at the end of 10 years?

Q: On Olga’s 16th birthday, her uncle invested $2,000

On Olga’s 16th birthday, her uncle invested $2,000 in an account that was locked into a 1.75% interest rate, compounded monthly. How much will Olga have in the account when she turns 18? Round to the...

Q: The summer income of the 3,408 students at Van Buren

The summer income of the 3,408 students at Van Buren High School last year was normally distributed with mean $1,751 and standard deviation $421. a. Approximately what percent of the students had inc...

Q: Samantha deposits $1,500 into the Park Street Bank.

Samantha deposits $1,500 into the Park Street Bank. The account pays 1.12% annual interest, compounded daily. To the nearest cent, how much is in the account at the end of three non–leap years?

Q: Joanne deposits $4,300 into a 1-year CD

Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily. a. What is her ending balance after the year, to the nearest cent? b. How much interest does she earn, to the nearest cen...

Q: Rob deposits $1,000 in a savings account at New

Rob deposits $1,000 in a savings account at New York State Bank that pays 1.4% interest, compounded monthly. a. How much is in his account at the end of 1 year, to the nearest cent? b. What is the A...

Q: The Terceira family is planning to send their 3-year-

The Terceira family is planning to send their 3-year-old daughter to college in 15 years. They plan on investing $5,000 each year to help meet her college costs. a. What are the advantages and disadv...