# problem sets

Show all the various steps to arrive at the answer.

**Section A**

3. For an investment of $100,000 at 9% interest for 3 years, find

(a) the simple interest, and (b) the compound interest if interest is calculated once per year.

4. For an investment of $100,000 at 2% interest for 9 years, find (a) the simple interest, and (b) the compound interest if interest is calculated once per year

**Section B**

1)As part of his retirement planning, Mr.Martin purchases an annuity that pays 12.5% compounded quarterly. If the quarterly payment is $9,500, how much will Mr. Martin have saved in 5 years?

2)As part of his retirement planning, Mr. White purchases an annuity that pays 8.5% compounded semiannually. If the semi annual payment is $7000, how much will Mr. White have saved in 5 years?

**Section C**

1. A house sells for $268,500 and a 40% down payment is made. A 30-year mortgage at 7% was obtained.

(i) Find the down payment.

(ii) Find the amount of the mortgage.

(iii) Find the monthly payment.

(iv) Find the total interest paid

**Answers 1**

Purchase the answer to view it

**Bids 42**

- Dr.Vickline
- EARNESTWRITER
- RESPECT WRITER
- university work
- All Works solver
- professor mitch
- Catherine Owens
- MathStat Genius
- Homework Pro
- mathexpert121
- Miss Alabama
- Rosie September
- JOHN JUNIOR001
- Talentedtutor
- Wendy Lewis
- Tutor Cyrus Ken
- Tiny Chris
- SaburB
- michael smith
- Cotton Candy
- Dr Willymartins
- Beaverly
- fastestwriter1
- JudithTutor
- Abdullah Anwar
- Saad Fahim
- firstclass tutor
- kim woods
- ansRohan
- Jen Tech1
- shujat
- A-Grade Writer
- Harris Khan
- DexterMasters
- suniyazia
- Tutor-paula
- Miss_Aqsa
- Expert_Christine
- Bentaylor
- perfect hamza
- katty_juliet
- The Knight