The Mathematics of Money

644 Appendix A Answers to Odd-Numbered Exercises

15. a) Shown with hours from b

Person

Hourly

Rate

Billable

Hours Billable $

Dewey $175.00 3.5 $612.50

Cheatham $215.00 0 $0.00

Howe $275.00 11.5 $3,162.50

Yu $85.00 6 $510.00

Bette $85.00 1.5 $127.50

To tals 22.5 $4,412.50

b) $4,412.50, c) $1,018.75, d) $15,820.00

Chapter 5 Section 5.2

1. a) $1,090,943.20, b) $1,090,943.24


2. $17,746.30; $83,225,57; $905,943.24


3. $55,373.09


4. a) $221,982.92, b) $248,629.98,
   c) $332,716.33


5. $648,930.22


6. a) $37,150.97, b) $49,529.20, c) $56,055.87,
   d) $75,461.12, e) $102,696.02


7. $5,416,364


8. $199,808.79


9. a) $297,330.36, b) $374,368.97,
   c) $731,004.37


10. $3,073,726.51; $2,382,526.51


11. $3,163,233.00


12. a) $124,887.82, b) $132,231.11


13. $450,132.89

Chapter 5 Section 5.3

1. b) $354.60, c) $2,935.44


2. a) $962.29, b) $6,774.96, c) $961.80,
   d) $46,032.91


3. a) Forever, b) 49 months, c) 20 months


4. 21 quarters (5 years, 3 months); $169.15;
   $25,169.15


5. $313.24


6. $1,134.49; 99 months; forever


7. 36 months


8. Forever; 167 months

Chapter 5 Section 5.4

1. 32 years


2. 14.84%


3. 9.28%


4. 55 quarters (13¾ years)


5. 8.57%


6. 28 years; 14.80%


7. 18.97%

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