1. How much must be invested at 6% to have $1200 at end of 4.5 years?
2. Mr. O'Neill borrows $650 for four months at 7% interest. How much interest he pays?
3. The couple pays $400 at the end of every 6 months for seven years into the ordinary annuity paying 4% compounded semiannually. Determine future value at the end of seven years?
4. Compounding periods and payment periods are same for the annuity and for amortization. Find present value of annuity which will pay given periodic payments.
Periodic payments of $2900 annually for eighteen years. interest is 5% compounded annually.
5. In the Bosque County election, 2175 voters voted on 2 propositions. Proposition 1 would impose the countywide sales tax of 0.5% to establish the system of bike trails. Proposition 2 would ban all eight-line gambling machines. The total of 1333 voted on Proposition 1 while 1621 voted on Proposition 2. How many voted on both propositions?