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Statistical Methods In Management

Suppose that $2200 is invested at 3% interest, compounded semiannually. Find the function for the amount of money after tyears.

A=2200(1.03)^{2:}

C_{1} A=2200(1.015)^{t}

A=2200(1.015)^{2 t}

A=2200(1.0125)^{21}

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Statistical Methods In Management

Jennifer invested $5,000 in her savings account for 5 years. When she withdrew it, she had $6,749.29. Interest was compounded continuously. What was the interest rate on the account? Round to the nearest tenth of a percent.

5.9%6.0%6.1%6.2%

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Statistical Methods In Management

Jack sets up a new hat store. His initial start-up costs are $13,000 plus he pays $3 for every hat he stocks. Jack then decides to sell each hat for $1 in the hopes ofbringing a lot of customers with his low prices. What do you know for sure about Jack's business?

A. He will never make money because he is charging his customers less than it costs him to stock his store.

O B. He will be hugely successful because he is offering high-quality products at a low price.

OC. He will never make money because people will assume that $1 hats are too cheap and will fall apart easily.

OD. He will be hugely successful because everyone needs a new hat on occasion.

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Statistical Methods In Management

\text { Sing the interestiformula } A=P(1+r \mid \text { ), solve for the indicated variade. }

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Statistical Methods In Management

Use the future value formula o find the indicated value.

F V=4,000 ; i=0.04 ;, P M T=\$ 800 ; n=?

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Statistical Methods In Management

Sammy borrowed $10,000 to purchase a new car at an annual interest rate of 11%. She is to pay it back in equal monthly payments over a 5-year period. How much total interest will be paid over the period of the loan? Round to the nearest dollar.

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Statistical Methods In Management

Investing. How many years will it take $200 to grow to $3,500 if it is invested at 6% (A) compounded quarterly? (B) compounded continuously?

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Statistical Methods In Management

In order to purchase a home, a family borrows $70,000a 12% for 15 years. What is the monthly house payment to amortze the lan? Round the answer to the nearest cent.

$902.99$46.67$700.00$840.12

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Statistical Methods In Management

After a few months, Marco sits down with his accountant to discuss the progress of his bakery. His accountant goes into great detail about the cost, revenue and profit or the bakery. While Marco understands clearly what the cost of his business is, he has trouble distinguishing between revenue and profit. Which of the following best explains the difference?

A. The profit is how much the bakery earns over a period of time, while the profit is the costs that Marco has to spend minus the revenue.

OB. The revenue is how much the bakery earns over a period of time, while the profit is the revenue minus any costs that Marco has to spend.

C. The revenue is how much the bakery earns over a period of time, while the profit is the costs that Marco has to spend minus the revenue.

1. The profit is how much the bakery earns over a period of time, while the revenue is the profit minus any costs that Marco has to spend.

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Statistical Methods In Management

A sallbaat costs $27,570. You pay 25% down and amortize the rest with equal monthly payments over a 9-year period. If you must pay 6.1% compounded monthly, what's your monthly payment? How much interest will you pay?

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