The Mathematics of Money

642 Appendix A Answers to Odd-Numbered Exercises

15. a) 72, b) 0.0594/4, c) 127.28876734,
    d) $152,746.52


16. a) 324, b) 0.0875/12, c) 1306.53830990,
    d) $176,761.57


17. $45,750.23


18. $1,054.41


19. $2,646.00


20. $15,148.26


21. a) $188,338.38, b) $1,643.25


22. $164,328.61


23. $160,304.79


24. $468,990.49


25. $2,024.43; $10,253.16; $69,951.09


26. Ron $436,375.98; Don $295,490.33


27. $233,768.53


28. 15,809


29. Annual: $42,041.35; semi: $43,079.38;
    quarterly: $43,622.00; monthly: $43,993.02;
    weekly $44,135.98; daily $44,179.59. Sooner
    money is deposited the better, though not much is
    gained by more frequent deposits than monthly.

Chapter 4 Section 4.3

1. $219,130.94


2. $762.91


3. $326.04


4. a) $41,576.92, b) $1,105.16


5. $171.05


6. $745.76


7. $56.60


8. $240,341.84


9. $871,799.37

Chapter 4 Section 4.4

1. a) $1,003,766.12, b) $790.85,
   c)$790.85


2. $129,448.11; $171,621.15


3. $1,320.78


4. a) 131.56359231, b) 71.76576624


5. 12.84926350


6. 35.52283787


7. a) 120, b) 0.09/12  0.0075, c) 78.94169267,
   d) $11,841.25


8. a) 20, b) 0.05/4  0.0125, c) 17.59931613,
   d) $30,806.19


9. a) 84, b) 0.1259/12, c) 55.64890489,
   d) $40,921.42


10. $13,718.75


11. $389.64


12. $301.95


13. $5,791,301.20


14. $954,323.93


15. a) $1,299.58, b) $1,736.44


16. 13.31785901
    33. $44,029.50
    35. $338.03
    37. #4: $966.00; #5: $1,321.20. Match is not exact
    because of rounding.
    39. MONTHLY PAYMENT PER $1,000 BORROWED
    INTEREST RATE

Years 6.00% 7.00% 8.00% 9.00%

3 $30.42 $30.88 $31.34 $31.80

4 $23.49 $23.95 $24.41 $24.89

5 $19.33 $19.80 $20.28 $20.76

Chapter 4 Section 4.5

1.

Month Payment

To

Interest

To

Principle

End

Balance

1 $250.00 $175.88 $74.12 $23,375.88

2 $250.00 $175.32 $74.68 $23,301.20

3 $250.00 $174.76 $75.24 $23,225.96

4 $250.00 $174.19 $75.81 $23,150.15

5 $250.00 $173.63 $76.37 $23,073.78

6 $250.00 $173.05 $76.95 $22,996.83

3. $140.81; interest  $54.27; principle  $86.54


4. a) $59.59 interest, $2.91 principle; b) $59.59
   interest, $190.41 principle; c) 196 months at
   $62.50, 18 months at $250


5. $3,496.06


6. $10,013.24


7. a) $787.20, $25,341.12; b) $134,661.32;
   c) $907.94; d) no, because she has extended the
   term to 24 years for all of her debts


8. $157.27; $4,533.12


9. Interest $34,456.25; principle $25,278.75;
   remaining $1,824,721.25


10. $731,245.64

Chapter 4 Section 4.6

1. a) $21,140.69, b) $153,156.82


2. $104,688.63


3. $1,442,015; $1,422,515


4. $90,754.11; $998.84


5. $155,055.62


6. $1,719,547

Chapter 4 Section 4.7

1. $5,565,041


2. $199,809


3. $166,607


4. $18,361,161


5. $85.86


6. a) $817.76, b) nothing!

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