Precalculus Mathematics for Calculus
Quiz 12: Sequences and Series
How Much Money Should Be Invested Monthly at 6% Per
How much money should be invested monthly at 6% per year, compounded monthly, in order to have
in two years?
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How much money must be invested now at 5% per year compounded semi-annually, to fund an annuity of
semi-annual payments of
each, the first payment being six months after the initial investment?
How much money must be invested now at 16% per year compounded quarterly, to fund an annuity of
quarterly payments of
each, the first payment being three months after the initial investment?
A farmer wants to borrow $50,000 in order to buy a tractor. She wants to repay the loan by semi-annual installments for six years. If the interest rate is 10% per year compounded semi-annually, what is the amount of each payment?
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