Percent - XYZ Custom Plus

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350Chapter 5 <strong>Percent</strong>B The problems that follow involve compound interest. [Examples 5, 6]Compound Interest The chart shows the interest rates for various CD accounts.13. Last year Samuel invested $400 in a 6-month CD. If the interestis compounded quarterly, how much was in the account at theend of 6 months? Round to the nearest cent.$406.34Latest CD Yields (%)4.294.233.164.634.643.324.484.453.344.704.674.1114. If Alice deposited $200 in a 2_1 year CD account earlier this2week, what will the account make at the end of its term if interestis compounded quarterly. Use the compound interest formulaand round to the nearest cent.$223.56This weekLast weekYear agoThis weekLast weekYear agoThis weekLast weekYear agoThis weekLast weekYear ago6-month 1-year 21/2-year 5-yearSource: bankrate.com15. Compound Interest A woman puts $5,000 into a savingsaccount that pays 6% compounded annually. Howmuch money is in the account at the end of 2 years?$5,61816. Compound Interest A savings account pays 5% compoundedannually. If $10,000 is deposited in theaccount, how much is in the account after 2 years?$11,02517. Compound Interest If $8,000 is invested in a savingsaccount that pays 5% compounded quarterly, howmuch is in the account at the end of a year?$8,407.56Some answers may vary in the hundredths column depending onwhether rounding is done in the intermediate steps.18. Compound Interest Suppose $1,200 is invested in a savingsaccount that pays 6% compounded semiannually.How much is in the account at the end of 1_1 2 years?$1,311.27Calculator ProblemsThe following problems should be set up in the same way in which Problems 1–18 have been set up. Then the calculationsshould be done on a calculator.19. Savings Account A woman invests $917.26 in a savingsaccount that pays 6.25% annually. How much is in theaccount at the end of a year?$974.5920. Business Loan The owner of a clothing store borrows$6,210 for 1 year at 11.5% interest. If he pays the loan backat the end of the year, how much does he pay back?$6,924.1521. Compound Interest Suppose $10,000 is invested in each 22. Compound Interest Suppose $5,000 is invested in eachaccount below. In each case find the amount of money in account below. In each case find the amount of money inthe account at the end of 5 years.the account at the end of 10 years.a. Annual interest rate = 6%, compounded quarterly a. Annual interest rate = 5%, compounded quarterly$13,468.55$8,218.10b. Annual interest rate = 6%, compounded monthly b. Annual interest rate = 6%, compounded quarterly$13,488.50$9,070.09c. Annual interest rate = 5%, compounded quarterly c. Annual interest rate = 7%, compounded quarterly$12,820.37$10,007.99d. Annual interest rate = 5%, compounded monthly d. Annual interest rate = 8%, compounded quarterly$12,833.59$11,040.20
5.6 Problem Set351Getting Ready for the Next SectionChange to percent.23. _75250 30%24. 150 _250 60%25. 400 _2,400 _2,400 26. 20016 _ 2 3 % 8 _ 1 3 %Multiply.27. 0.3(360)10828. 0.4(360)14429. 0.45(360)16230. 0.15(360)54Divide.31. 40 ÷ 5832. 45 ÷ 5933. 15 ÷ 5334. 5 ÷ 51Maintaining Your SkillsThe problems below will allow you to review subtraction of fractions and mixed numbers.35. _3 4 − 1 _4 36. _910 − 7 _10 37. _5 8 − 1 _4 38. _710 − 1 _5 _1 2 _ 1 5 _ 3 8 _ 1 2 39. 2 − _4 3 40. 2 + _4 3 41. 1 + _1 2 42. 1 − _1 2 _2 3 _ 103 = 3 _ 1 3 _ 3 2 = 1 _ 1 2 _ 1 2 43. _1 3 − 1 _4 44. _912 − 1 _5 45. 3_1 4 − 246. 5_1_112 _ 1120 _ 5 4 = 1 _ 1 4 _ 23126 − 31 _4 = 111 _12 47. Find the sum of _815 and 8 _. 16_35 21 48. Find the difference of 8 _15 and 8 _35. 32_105 49. Find the product of _815 and 8 _. 64_35 525 50. Find the quotient of 8 _15 and 8 _35 . 7 _3 = 21 _ 3
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