Chapter 6 Assignment 2023-01
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School
University of Saskatchewan *
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Course
102
Subject
Mathematics
Date
Jan 9, 2024
Type
Pages
4
Uploaded by SuperHumanRiverQuetzal27
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Chapter 6 Assignment 2023-01
Due:
Monday, March 27, 2023 11
:
59 pm (Central Standard Time)
Assignment description
Please note the due date of this assignment. You must begin your submission at least an hour in
advance to ensure you SUBMIT prior to 11
:
59pm. If your submission is one minute later than 11
:
59pm,
Crowdmark will automatically set your grade to 0%.
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anything in Canvas). Googling solutions to exercises or using software/apps/websites to solve any part
of a problem is considered plagiarism. This is a serious academic offence that might result in failure in
this course or suspension from USask.
Remember to show your work to receive full credit. The amount of work you show is in proportion to
the number of marks a question is worth. Show the work you did by hand to arrive at the solution.
Unless otherwise specified, all answers should be left as an exact value (a simplified rational or
irrational number.) Do not round using a calculator as this would create an approximated solution,
rather than an exact solution. If you are asked to state a property or formula from the textbook for a
calculation, you will not receive marks for the problem if you do not state it.
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Q1
(6 points)
This question is based on Section 6.1.
EXERCISE 1. [3 marks].
Copy the compound interest formula from the textbook and apply it to solve
the following problem.
If Mario and Luigi want to purchase a go-kart that costs 2,000 gold coins, how many gold coins do
they need to invest now in a savings account that pays a nominal 9.5% interest compounded monthly,
so that they can make their purchase in 5 years
?
EXERCISE 2. [3 marks].
Copy the continuous growth/decay formula from the textbook and apply it to
solve the following problem.
Suppose Bowser moves next door to Peach’s castle, causing the property value to drop. If Peach’s
castle is worth 1 million gold coins, what will the value of her castle be in 10 years if it depreciates at a
nominal 13% interest per year compounded continuously
?
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