I have a short quiz in Finite Math, if you can help please attach a word document with the answers to it. Thank you very much for your help!
Finite
Math
Quiz
4
–Financial
Topics
For
each
section
read
the
directions
and
determine
the
best
answer
Choose
the
best
answer
for
the
questions
below.
Answers
are
rounded
to
nearest
whole
dollar
amount.
1.
What
is
the
simple
interest
earned
over
4
years
on
a
principal
of
$75,000
at
17%
interest?
a.
$126,000
b.
$12,750
c.
$51,000
d.
$87,750
3.
What
is
the
value
after
3
years
if
$6,500
is
invested
in
an
account
that
pays
8%
interest
compounded
monthly?
a.
$8,257
b.$7,200
c.
$8,060
d.
$1,756
5.
Which
of
the
following
choices
of
investment
yields
the
greatest
for
a
deposit
of
$10,000
over
10
years?
a.
14%
simple
interest
b.
13.5%
compounded
quarterly
c.
13%
compounded
weekly
d.
12.5%
compounded
daily
2.
What
is
the
effective
rate
of
interest
for
a
one
year
loan
of
$1,000
given
at
10%
interest
if
the
interest
is
compounded
quarterly?
a.
10.54%
b.
10.24%
c.
10.81%
d.
10.38%
4.
How
much
is
the
discount
on
a
loan
for
which
you
agree
to
pay
the
lender
$3,000
in
one
year
at
6%
interest?
a.
$170
b.
$2,820
c.
$180
d.
$3,180
6.
You
are
due
to
receive
4
payments
(one
per
year)
which
you
can
invest
in
an
account
that
earns
11%
interest
per
year.
Which
sequence
of
payments
yields
the
greatest
amount?
a.
$500,
$250,
$200,
$100
b.
$125,
$250,
$250,
$500
c.
$100,
$100,
$200,
$750
d.
$600,
$100,
$100,
$200
Solve
the
following
questions
and
write
your
answer
in
the
free
response
box.
Round
monetary
values
to
the
nearest
whole
cent.
7.
Compute
the
monthly
loan
payment
required
to
pay
off
$150,000
dollars
at
7%
interest
over
15
years.
(Note:
a
monthly
payment
means
the
interest
is
compounded
monthly)
8.
How
much
money
should
be
invested
in
an
account
that
earns
9%
interest,
compounded
monthly,
if
you
want
to
have
$500,000
after
20
years?
Finite
Math
Quiz
4
–Financial
Topics
9.
What
is
the
value
of
an
annuity
if
$250
dollars
is
deposited
monthly
for
7
years
at
12%
interest?
10.
How
much
would
you
need
to
deposit
if
you
wanted
to
withdrawal
$750
a
month
for
3
years
if
a
bank
will
pay
8%
interest?
