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Problem Sheet #12 (5.1-5.3) ClassID: _____ Name: _________________________ Hmk. 12 Score _________ Math 1090 – 001 Spring 2013 Instructor: Katrina Johnson Complete each problem. Clearly indicate your final answer. No credit will be given without supporting work. 1. What is the 11th term of the arithmetic sequence with a1 = 25 and d = −2 ? € € 2. What is the 4th term of the geometric sequence with a1 = 2 and d = 4 ? € € 3. Find the sum of the first 40 terms of the sequence: 1, 5, 9, 13, … 4. Find the sum of the first 40 terms of the sequence: -4, -2, -1, -1/2, … 5. If your money is invested at 8% compounded twice per year what is the annual percentage yield (APY)? 6. How much more interest will be earned if $15,000 is invested for 5 years at 7.3% compounded monthly, instead of at 7.3% compounded quarterly? 7. Cami pays $120 at the beginning of each month for 12 years into an annuity. If the interest rate is 6% compounded monthly, what is the future value of the annuity? 8. Juan pays $500 at the end of each quarter for 4 years into an annuity. If the interest rate is 10% compounded quarterly, what is the future value of the annuity? 9. How much will need to be invested at the end of each month at 5.4% interest compounded monthly, to pay off a debt of $4700 in 9 year?