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Math Problems
Algebra 2
Finance problems
An amount of
₹
2
,
75
,
625
\text{₹} 2,75,625
₹
2
,
75
,
625
is to be collected in such a way that the number of students is equal to the amount donated by each of the students. Find the number of students.
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You borrowed
$
3
,
000
\$ 3,000
$3
,
000
to help pay for your first car. If you have to pay
3
%
3 \%
3%
simple interest every year, and it takes you
4
4
4
years of payments to finish paying off the loan, what total amount will you have to pay back? SIMPLE INTEREST: I = Prt
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Jac\'ob makes
$
80
,
000
\$80,000
$80
,
000
a year. His boss wants to give him a
7
%
7\%
7%
raise for the following year. What will Jacob's new salary be next year after his raise?
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1
1
1
. Heather has a total of
$
5000
\$ 5000
$5000
to invest. She puts part of it in an account paying
5
%
/
5 \% /
5%/
year interest and the rest in a GIC paying
7.2
%
7.2 \%
7.2%
interest. If she has
$
349
\$ 349
$349
in simple interest at the end of the year, how much was invested at each rate?
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A man pays Rs.
4000
4000
4000
at the end of each year for
5
5
5
years. The money is worth
6
%
6\%
6%
compounded quarterly. He wants to replace it for a payment at the end of each quarter.
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Mr. R.K. Nair gets ₹
6455
6455
6455
at the end of one year at the rate of
14
%
14 \%
14%
per annum recurring deposit account. Find the monthly instalment.
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When a tv is sold for Rs
16756
16756
16756
sold in if there is a profit of
18
%
18\%
18%
. what will be the cost of tv
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A lender will grant an
80
80
80
%
\%
%
loan on a home with an appraised value of
$
328
,
400
\$328,400
$328
,
400
at
4
4
4
.
75
75
75
%
\%
%
annual interest for
15
15
15
years. The monthly payment will require
$
7.78
\$7.78
$7.78
per
$
1
,
000
\$1,000
$1
,
000
of loan amount. How much verifiable monthly gross income must the borrowers earn if the lender permits them to devote
29
29
29
%
\%
%
of gross monthly income to the principal and interest payment?
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annum for
4
4
4
years. Find the markup of the bank.
\newline
3
3
3
. Naseem receives a profit of Rs
27
27
27
,
000
000
000
at the rate of
12
%
12 \%
12%
per yeaf for
3
3
3
years. Find his original investment.
\newline
A. At what annual rate percent would
R
s
68
,
000
\mathrm{Rs} 68,000
Rs
68
,
000
amount to
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annum for
4
4
4
years. Find the markm a bank at the rate of
8
%
8 \%
8%
\newline
markup of the bank.
\newline
for
3
3
3
yeem receives a profit of Rs
27
27
27
,
000
000
000
at the rate of
12
%
12 \%
12%
per
\newline
4
4
4
.
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annum for
4
4
4
years. Find the markup of the bank.
\newline
3
3
3
. Naseem receives a profit of
R
s
27
,
000
\mathrm{Rs} 27,000
Rs
27
,
000
at the rate of
12
%
12 \%
12%
per year for
3
3
3
years. Find his original investment.
\newline
A. At what annual rate percent would Rs
68
68
68
,
000
000
000
amount to
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8
8
8
. The three precalculus teachers want
$
3
,
000
,
000
\$ 3,000,000
$3
,
000
,
000
at the end of
10
10
10
years. How much money should they put into an account each month that pays
7
%
7 \%
7%
annual interest compounded monthly?
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- Solve the following:
\newline
\begin{tabular}{|l|l|l|l|l|}
\newline
\hline MRP in Rs &
5000
5000
5000
&
6000
6000
6000
&
7500
7500
7500
&
9000
9000
9000
\\
\newline
\hline Discount \% &
10
10
10
&
12
12
12
&
28
28
28
&
15
15
15
\\
\newline
\hline
\newline
\end{tabular}
\newline
Find the amount of bill if GST is
18
18
18
\% for both Intrastate and Interstate transaction.
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3
3
3
. Ike is buying a motorcycle. To save for his down payment, he invests
$
3750
\$ 3750
$3750
to for
5
5
5
years at
6.4
%
6.4 \%
6.4%
compounded quarterly. At the end of
5
5
5
years how much will lke have saved? (
3
3
3
marks)
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A family needs to take out a
15
15
15
-year home mortgage loan of
$
160
,
000
\$ 160,000
$160
,
000
through a local bank. Annual interest rates for
15
15
15
-year mortgages at the bank are
3.8
%
3.8 \%
3.8%
compounded monthly.
\newline
(a) Compute the family's monthly mortgage payment under this loan.
\newline
(b) How much interest will the family pay over the life of the loan?
\newline
(a) The monthly payment is
$
\$
$
□
\square
□
\newline
(Round to the nearest cent as needed.)
\newline
(b) The total interest paid is
$
\$
$
□
\square
□
\newline
(Round to the nearest cent as needed.)
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Conduct a survey about purchasing a car of the same brand from two different places that is from Karnataka state and from the Union Territory, Pondicherry.
\newline
• Collect the following data: MRP, Discount, SP, GST\%
\newline
• Find the final bill amount including GST.in indian rupees using inra state or inter state transaction as per the question
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A loan of
$
6300
\$ 6300
$6300
is repaid by equal payments at the end of each quarter for
3
3
3
years. If interest is
6
%
6 \%
6%
compounded quarterly, how much interest was paid in the first year
\newline
P
/
y
=
c
/
y
=
\begin{array}{l} P / y= \\ c / y= \end{array}
P
/
y
=
c
/
y
=
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You want to have a
$
100
,
000
\$ 100,000
$100
,
000
college fund in
20
20
20
years. How much will you have to deposit now in an account with an APR of
5
%
5 \%
5%
and daily compounding?
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The Food Store is planning a major expansion for
4
4
4
years from today. In preparation for this, the company is setting aside
$
42
,
000
\$42,000
$42
,
000
& each quarter, starting today, for the next
4
4
4
years. How much money will the firm have when it is ready to expand if it can earn an interest rate of
8.0
%
8.0\%
8.0%
p.a. on its savings?
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7
7
7
. Find the sum on which the compound interest for
3
3
3
years at
10
%
10 \%
10%
per annum amounts to ₹
1
1
1
,
655
655
655
.
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In a stationery shop cost of
3
3
3
books
2
2
2
pens and
2
2
2
pencils all together is Rs.
129
129
129
. Cost of
1
1
1
book
2
2
2
pens and
2
2
2
pencils together is Rs.
79
79
79
. And cost of
1
1
1
book and
1
1
1
pencil together is Rs.
2
2
2
0
0
0
. If Ajinkya buys
2
2
2
1
1
1
books,
2
2
2
pencils and
3
3
3
pens. How much will he pay to the shopkeeper?
\newline
(
1
1
1
) Rs
2
2
2
4
4
4
\newline
(
2
2
2
) Rs
2
2
2
5
5
5
\newline
(
3
3
3
) Rs
2
2
2
6
6
6
\newline
(
4
4
4
) Rs
2
2
2
7
7
7
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In a stationery shop cost of
3
3
3
books
2
2
2
pens and
2
2
2
pencils all together is Rs.
129
129
129
. Cost of
1
1
1
book
2
2
2
pens and
2
2
2
pencils together is Rs.
79
79
79
. And cost of
1
1
1
book and
1
1
1
pencil together is Rs.
37
37
37
. If Ajinkya buys
4
4
4
books,
2
2
2
pencils and
3
3
3
pens. How much will he pay to the shopkeeper?
\newline
(A) Rs
31
31
31
\newline
(B) Rs
150
150
150
\newline
(C) Rs
189
189
189
\newline
(D) Rs
169
169
169
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Three coins of Rs.
1
1
1
,
5
5
5
coins of
50
50
50
Paise and
7
7
7
coins of
25
25
25
Paise equals to which of the following?
\newline
(A) Rs.
6
6
6
and
25
25
25
Paise
\newline
(B) Rs.
7
7
7
and
75
75
75
Paise
\newline
(C) Rs.
7
7
7
and
25
25
25
Paise
\newline
(D) Rs.
8
8
8
and
50
50
50
Paise
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Vance invests
$
15
,
000
\$15,000
$15
,
000
in an account that pays
3.25
%
3.25\%
3.25%
simple interest for
72
72
72
months. Assuming Vance doesn’t make any other deposits or withdraws, how much will be in his account after
72
72
72
months?
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Q. A sum of Rs.
10
10
10
,
000
000
000
is borrowed at a rate of interest
15
%
15 \%
15%
per annum for
2
2
2
years. Find the simple interest on this sum and the amount to be paid at the end of two years.
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rrowed
$
3
,
500
\$ 3,500
$3
,
500
for
3
3
3
years at
71
/
2
%
71 / 2 \%
71/2%
erest rate. How much interest is that?
\newline
.
50
50
50
\newline
$
4
,
287.50
\$ 4,287.50
$4
,
287.50
\newline
50
50
50
\newline
$
810
\$ 810
$810
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You want to study at the Hogwarts School of Witchcraft and Wizardry after three years. You need
910
910
910
pieces of muggle-money to study there. You decide to deposit some pieces in the bank at an annual interest rate of
10
%
10 \%
10%
.
\newline
How many pieces should you deposit today if you want to use the total amount to pay the fees?
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Question
5
5
5
:
$
500
\$ 500
$500
is invested in an account that pays
4.5
%
4.5 \%
4.5%
per annum, interest compounded monthly. Find how long it takes to reach
$
5000
\$ 5000
$5000
.
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After graduating with master's degree, Claudia combined all of her loans into a single loan of
$
18
,
000.00
\$18,000.00
$18
,
000.00
with an interest rate of
5.2
%
5.2\%
5.2%
compounded quarterly. If she is planning to pay off the loan in
10
10
10
years, what quarterly payment would be?
$
\$
$
(Round to
2
2
2
decimal
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I
8
8
8
After graduating with master's degree, Claudia combined all of her loans into a single loan of
$
18
,
000.00
\$ 18,000.00
$18
,
000.00
with an interest rate of
5.2
%
5.2 \%
5.2%
unded quarterly. If she is planning to pay off the loan in
10
10
10
years, what quarterly payment be? \$.\(\newline\)arterly payment would be \( \$ \) (Round to \(2\) decimal
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Question
8
8
8
\newline
Cichers
\newline
After graduating with a master's degree, Claudia combined all of her student loat a single loan of
\newline
$
18
,
000.00
\$18,000.00
$18
,
000.00
with an interest rate of
\newline
5.2
%
5.2\%
5.2%
compounded quarterly. planning to pay off the loan in
10
10
10
years, what will her quarterly payment be?
\newline
The quarterly payment would be
\newline
$
\$
$
- (Round to
2
2
2
decimal placesi) Question Help: OMessage inctructor
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Question
8
8
8
\newline
Cichers
\newline
After graduating with a master's degree, Claudia combined all of her student loat a single loan of
$
18
,
000.00
\$ 18,000.00
$18
,
000.00
with an interest rate of
5.2
%
5.2 \%
5.2%
compounded quarterly. planning to pay off the loan in
10
10
10
years, what will her quarterly payment be?
\newline
The quarterly payment would be
$
\$
$
(Round to
2
2
2
decimal places.) Question Help: OMessage inctructor
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The monthly salary of a man is Rs.
65000
65000
65000
, one-fifth of his salary is spend paying the rent,
5
26
\frac{5}{26}
26
5
th of his remaining salary is spent in buying groceries, and half of the rest salary is spent miscellaneous expenses. How much his monthly saving?
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You would like to have
$
900
,
000
\$ 900,000
$900
,
000
when you retire in
40
40
40
years. How much should you invest each quarter if you can earn a rate of
3.2
%
3.2 \%
3.2%
compounded quarterly?
\newline
a) How much should you deposit each quarter?
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You want to be able to withdraw
$
35
,
000
\$ 35,000
$35
,
000
each year for
30
30
30
years. Your account same
6
%
6 \%
6%
interest.
\newline
a) How much do you need in your account at the beginning?
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You can retry this question below
\newline
How much should be invested now at
3.1
%
3.1 \%
3.1%
compounded semiannually to have
$
40
,
000
\$ 40,000
$40
,
000
in
19
19
19
years?
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You can afford a
$
250
\$ 250
$250
per month car payment. Youve found a
3
3
3
year loan at
5
%
5 \%
5%
interest. How big of a loan can you afford?
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Suppose you want to have
$
300
,
000
\$ 300,000
$300
,
000
for retirement in
25
25
25
years. Your account earns
6
%
6 \%
6%
interest.
\newline
a) How much would you need to deposit in the account each month?
\newline
$
\$
$
\newline
b) How much interest will you earn?
\newline
$
\$
$
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Suppose you want to have
$
300
,
000
\$ 300,000
$300
,
000
for retirement in
25
25
25
years. Your account earns
6
%
6 \%
6%
interest.
\newline
a) How much would you need to deposit in the account each month?
\newline
$
472.06
\$ 472.06
$472.06
\newline
b) How much interest will you earn?
\newline
$
722
,
019.86
\$ 722,019.86
$722
,
019.86
\newline
Add Work
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Joe is taking out a loan for
$
1
,
500
\$ 1,500
$1
,
500
with an annual compound interest rate of
15
%
15 \%
15%
for
3
3
3
years. Joe will not make any additional deposits or withdrawals. What will be the total balance paid at the end of
3
3
3
years?
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Monico invests
$
13
,
000
\$ 13,000
$13
,
000
at
12
%
12 \%
12%
simple interest for
1
1
1
year. How much is in the account at the end of the
1
1
1
year period?
\newline
Answer:
$
\$
$
_______
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Suppose that
$
8000
\$8000
$8000
is invested and pays
4.5
%
4.5\%
4.5%
per year under the following compounding options. Determine the total amount in the account after
5
5
5
years with each option.
\newline
a. Compounded annually
\newline
b. Compounded monthly
\newline
c. Compounded continuously
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The price of a T.V. set inclusive of VAT is Rs
13530
13530
13530
. The rate of VAT is
10
%
10\%
10%
. Find its basic price.
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Jesse opened a savings account with a deposit of
$
500
\$500
$500
. The account earns
0.5
%
0.5\%
0.5%
simple interest per year. He did not make any additional deposits or withdrawals. What was Jesse's account balance after
5
5
5
years?
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Anna is shopping in market. She has denominations of
Rs
20
\text{Rs}\ 20
Rs
20
,
Rs
10
\text{Rs}\ 10
Rs
10
and coins of
Rs
5
\text{Rs}\ 5
Rs
5
and
Rs
2
\text{Rs}\ 2
Rs
2
. How many of each of these notes or coins she must give to the shopkeeper to buy each of these?
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Help:
\newline
Video
1
1
1
\newline
Video
2
2
2
\newline
Message instructor
\newline
2
2
2
\newline
0
/
3
0 / 3
0/3
pts
\newline
sit \$\(500\) each month into an account earning \(5\)\% interest compounded\(\newline\)uch will you have in the account in \(20\) years?\(\newline\)ich total money will you put into the account?
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total increase in cost.
\newline
Ques:
3
3
3
. The additional cost (in lakhs of rupees) of producing a notor car is given by
6
+
4
x
2
+
1.5
e
−
x
6+4 \mathrm{x}^{2}+1.5 \mathrm{e}^{-\mathrm{x}}
6
+
4
x
2
+
1.5
e
−
x
, where
x
\mathrm{x}
x
is the quartity produced. Determin: the total cost producing
5
5
5
motor cars if the fixed cost is Rs.
7
7
7
lakhs. It is given that
e
−
5
2
=
0.006
\mathrm{e}^{-5^{2}}=0.006
e
−
5
2
=
0.006
.
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You rent an apartment that costs
$
900
\$ 900
$900
per month during the first year, but the rent is set to go up
$
190
\$ 190
$190
per year. What would be the monthly rent during the
5
5
5
th year of living in the apartment?
\newline
Answer:
$
\$
$
□
\square
□
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How long will it take
$
3
,
000
\$ 3,000
$3
,
000
to grow to
$
10
,
000
\$ 10,000
$10
,
000
if it is invested at
6
%
6 \%
6%
compounded monthly?
\newline
□
\square
□
years (Round to the nearest tenth of a year.)
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William borrowed
$
20000
\$20000
$20000
from a bank. The interest rate was
12
%
12\%
12%
p.a. The interest was compounded monthly. He repaid
$
2000
\$2000
$2000
after each settlement at the end of the month. After
2
2
2
repayments, how much did he owe the bank?
\newline
A.
$
16382
\$16382
$16382
\newline
B.
$
18000
\$18000
$18000
\newline
C.
$
18200
\$18200
$18200
\newline
D.
$
18382
\$18382
$18382
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