12:20, 11/06/2022
Quiz 2: Mathematics for Business-T222PWB-1
Quiz 2
Due No due date
Points 10
Questions 10
Available Jun 11 at 12:05pm - Jun 11 at 12:35pm 30 minutes
Time Limit 30 Minutes
Attempt History
LATEST
Attempt
Time
Score
Attempt 1
15 minutes
10 out of 10
 Correct answers are hidden.
Score for this quiz: 10 out of 10
Submitted Jun 11 at 12:20pm
This attempt took 15 minutes.
Question 1
1 / 1 pts
If money can be invested at 8% compounded quarterly, which is larger -$1000 now or the present value of $1210 left at 8% interest for 5 years?
Present value of $1210 left for 5 years
$1000 now
Question 2
1 / 1 pts
The number of books in a small library increases according to the function
B = 4300e0.02t, where t is measured in years. How many books will the
library have after 3 years? Round to the nearest book.
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1/5
12:20, 11/06/2022
Quiz 2: Mathematics for Business-T222PWB-1
12,098 books
5254 books
4566 books
4937 books
Question 3
1 / 1 pts
Find the effective rate corresponding to the nominal rate. 5%
compounded quarterly. Round to the nearest hundredth.
5.14%
5.04%
5.17%
5.09%
Question 4
1 / 1 pts
Southwest Dry Cleaners believes that it will need new equipment in 9
years. The equipment will cost $26,000. What lump sum should be
invested today at 4% compounded semiannually, to yield $26,000? Round
to the nearest cent.
$21,726.77
$18,204.14
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2/5
12:20, 11/06/2022
Quiz 2: Mathematics for Business-T222PWB-1
$21,835.40
$23,649.29
Question 5
1 / 1 pts
Barbara knows that she will need to buy a new car in 2 years. The car will
cost $15,000 by then. How much should she invest now at 6%,
compounded quarterly, so that she will have enough to buy a new car?
Round to the nearest cent.
$14,138.94
$14,150.94
$13,315.67
$12,594.29
Question 6
1 / 1 pts
An investment of $13,335 earns 6% interest compounded monthly for 3
years. (a) What is the value of the investment after 3 years? (b) If money
can be deposited at 8% compounded quarterly, find the present value of
the investment. Round to the nearest cent.
(a) $14,157.47
(b) $12,834.21
(a) $16,957.73
(b) $14,892.16
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12:20, 11/06/2022
Quiz 2: Mathematics for Business-T222PWB-1
(a) $15,957.73
(b) $12,582.56
(a) $15,878.34
(b) $13,892.16
Question 7
1 / 1 pts
Find the present value of the deposit $7000 at 9% compounded
continuously for 10 years. Round to the nearest dollar.
$31,625
$2846
$109,403
$113,507
Question 8
1 / 1 pts
Find the present value of the deposit $500 at 9% compounded
continuously for 10 years. Round to the nearest dollar.
$203
$8108
$7814
$2259
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12:20, 11/06/2022
Quiz 2: Mathematics for Business-T222PWB-1
Question 9
A certificate of deposit pays
1 / 1 pts
interest compounded semiannually.
What effective interest rate does the CD pay? Round to the nearest tenth
when necessary.
6.3%
4.5%
11.3%
5.6%
Question 10
1 / 1 pts
Find the effective rate corresponding to the nominal rate 6% compounded
monthly. Round to the nearest hundredth.
6.17%
6.12%
6.26%
6.23%
Quiz Score: 10 out of 10
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5/5