The Mathematics of Money

Copyright © 2008, The McGraw-Hill Companies, Inc.

Appendix A Answers to Odd-Numbered Exercises 643

13. $26,816


14. $170,609

Chapter 4 Exercises

1. $101,072.23; $110,000


2. $225,852


3. $1,901.97


4. $119,002


5. $267.93


6. $71,406.12


7. $259,584; $117,456


8. $193,482; $270.94; $85,009


9. $114.96; $91.58 interest, $23.38 principle


10. $78.58


11. $908.26


12. $5,154.41


13. a) $420,440, b) $2,868.46


14. $473.59;

Month Payment To Interest To Principle End Balance

1 $473.59 $210.00 $263.59 $29,736.41

2 $473.59 $208.15 $265.44 $29,470.97

3 $473.59 $206.30 $267.29 $29,203.68

29. $30,902

Chapter 5 Section 5.1

1. Result should match.


2. $5,070.66

5.

Model Unit Price

Number

of Sales $ Sales

A-780 $14,500 128 $1,856,000

B-1000 $17,900 75 $1,342,500

C-2750 $25,800 12 $309,600

D-365 $46,000 34 $1,564,000

To tal 249 $5,072,100

7.

Model Unit Price

Number

of Sales $ Sales Commission % Commission $

A-780 $14,500 6 $87,000 2.50% $2,175.00

B-1000 $17,900 4 $71,600 2.50% $1,790.00

C-2750 $25,800 0 $0 1.75% $0.00

D-365 $46,000 2 $92,000 1.75% $1,610.00

To tal 12 $250,600 $5,575.00

9. Spreadsheet should resemble Example 5.3.3;
   ending account value is $22,626.43


10. $10,283.93; $14.55; $62.61


11. $36,041.51

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