Questions from Financial Algebra

Q: Albert Einstein said that compound interest was “the most powerful thing

Albert Einstein said that compound interest was “the most powerful thing I have ever witnessed.” Work through the following exercises to discover a pattern Einstein discovered, which is now known as t...

Q: The spreadsheet calculates a yearly pension. Users enter the pension percentage

The spreadsheet calculates a yearly pension. Users enter the pension percentage as a percent in cell B1, the number of years worked in cell B2, and the last 4 working years’ salaries...

Q: Natalia worked in an automobile plant. She lost her job when

Natalia worked in an automobile plant. She lost her job when the plant relocated to another state. She applied for unemployment compensation. In her state, the amount is calculated by taking 55% of th...

Q: In Rodger’s state, unemployment compensation is calculated by finding the total

In Rodger’s state, unemployment compensation is calculated by finding the total of the quarterly wages of two consecutive quarters and dividing by 26. The weekly unemployment is 65% of that amount. In...

Q: International travel is usually more expensive than domestic travel. A recent

International travel is usually more expensive than domestic travel. A recent survey found that the average per-person cost of a 12-day international vacation is $1,755. This includes transportation,...

Q: The table represents the compound interest calculations for an account that pays

The table represents the compound interest calculations for an account that pays 2% interest compounded daily. Represent a–g algebraically.

Q: On December 18 of a leap year, Stacy opened a savings

On December 18 of a leap year, Stacy opened a savings account by depositing $6,000. The account pays 1.45% interest, compounded daily. On December 19 she deposited $500, and on December 20 she withdre...

Q: Round all monetary answers to the nearest dollar. William

Round all monetary answers to the nearest dollar. William Base’s employer withheld $13,956.95 in federal income tax. After completing his return, William determined that his tax responsibility is $1...

Q: A company produces a security device known as Toejack. Toejack is

A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online...

Q: Ralph is a teacher who works as a musician on weekends.

Ralph is a teacher who works as a musician on weekends. Here is part of his tax worksheet: wages from teaching $43,871.82, wages from music jobs $15,873.00, interest $863.90, dividends $350.70, and ro...