Mathematical Excursions (MindTap Course List)
Mathematical Excursions (MindTap Course List)
4th Edition
ISBN: 9781305965584
Author: Richard N. Aufmann, Joanne Lockwood, Richard D. Nation, Daniel K. Clegg
Publisher: Cengage Learning
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Chapter 11.5, Problem 36ES

Amortization Schedules Suppose you have a 30-year mortgage loan for $119500 at an annual interest rate of 8.25%. For which monthly payment does the amount of principal paid first exceed the amount of interest paid? For this exercise, you will need a spreadsheet program for producing amortization schedules. You can find one on our companion site at CengageBrain.com.

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Chapter 11.5, Problem 35ES
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Chapter 11 Solutions

Mathematical Excursions (MindTap Course List)

Ch. 11.1 - Find the amount of interest you owe for the third...Ch. 11.1 - How much of your payment goes toward reducing the...Ch. 11.1 - How much do you owe after making the payment for...Ch. 11.1 - Prob. 4EECh. 11.1 - Prob. 5EECh. 11.1 - Prob. 6EECh. 11.1 - Prob. 7EECh. 11.1 - Explain how to convert a number of months to a...Ch. 11.1 - Explain how to convert a number of days to a...Ch. 11.1 - Prob. 3ES
Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 6ESCh. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 9ESCh. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Calculate the simple interest earned. Round to the...Ch. 11.1 - Prob. 14ESCh. 11.1 - Prob. 15ESCh. 11.1 - Prob. 16ESCh. 11.1 - Prob. 17ESCh. 11.1 - Prob. 18ESCh. 11.1 - Prob. 19ESCh. 11.1 - Use the formula A=P(I+) to calculate the maturity...Ch. 11.1 - Use the formula A=P(I+) to calculate the maturity...Ch. 11.1 - Prob. 22ESCh. 11.1 - Prob. 23ESCh. 11.1 - Prob. 24ESCh. 11.1 - Prob. 25ESCh. 11.1 - Prob. 26ESCh. 11.1 - Calculate the simple interest rate....Ch. 11.1 - Prob. 28ESCh. 11.1 - Calculate the simple interest rate....Ch. 11.1 - Simple Interest Calculate the simple interest...Ch. 11.1 - Simple Interest You deposit $1500 in an account...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Simple Interest Calculate the simple interest due...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Maturity Value Calculate the maturity value of a...Ch. 11.1 - Future Value You deposit $880 in an account paying...Ch. 11.1 - Future Value You deposit $750 in an account paying...Ch. 11.1 - Simple Interest Rate The simple interest charged...Ch. 11.1 - Simple Interest Rate The simple interest charged...Ch. 11.1 - Simple Interest Rate The maturity value of a...Ch. 11.1 - Simple Interest Rate Find the simple interest rate...Ch. 11.1 - Late Payments Your property tax bill is $1200. The...Ch. 11.1 - Late Payments Your electric bill is $132. You are...Ch. 11.1 - Certificate of Deposit if you withdraw part of...Ch. 11.1 - Maturity Value $10,000 is borrowed for 140 days at...Ch. 11.1 - Prob. 48ESCh. 11.1 - On July 31. at 4 P.M., you open a money market...Ch. 11.2 - The CPI for 2010 was 218.056. What percent of the...Ch. 11.2 - The CPI for 2014 was 236.736. The percent increase...Ch. 11.2 - Prob. 3EECh. 11.2 - Prob. 4EECh. 11.2 - If a movie ticket cost $9 in 2015, what would a...Ch. 11.2 - Prob. 6EECh. 11.2 - Prob. 1ESCh. 11.2 - Prob. 2ESCh. 11.2 - Prob. 3ESCh. 11.2 - Prob. 4ESCh. 11.2 - Prob. 5ESCh. 11.2 - Prob. 6ESCh. 11.2 - Prob. 7ESCh. 11.2 - Prob. 8ESCh. 11.2 - Prob. 9ESCh. 11.2 - Prob. 10ESCh. 11.2 - Prob. 11ESCh. 11.2 - Prob. 12ESCh. 11.2 - Prob. 13ESCh. 11.2 - Prob. 14ESCh. 11.2 - Prob. 15ESCh. 11.2 - Prob. 16ESCh. 11.2 - Prob. 17ESCh. 11.2 - Prob. 18ESCh. 11.2 - Calculate the future value. P=22,000,r=9...Ch. 11.2 - Calculate the future value. P=5200,r=8.1...Ch. 11.2 - Calculate the present value. A=25,000,r=10...Ch. 11.2 - Prob. 22ESCh. 11.2 - Prob. 23ESCh. 11.2 - Prob. 24ESCh. 11.2 - Prob. 25ESCh. 11.2 - Prob. 26ESCh. 11.2 - Compound Amount Calculate the compound amount when...Ch. 11.2 - Prob. 28ESCh. 11.2 - Compound Amount If you leave $2500 in an account...Ch. 11.2 - Prob. 30ESCh. 11.2 - Prob. 31ESCh. 11.2 - Prob. 32ESCh. 11.2 - Prob. 33ESCh. 11.2 - Compound Interest How much interest is earned in 5...Ch. 11.2 - Prob. 35ESCh. 11.2 - Prob. 36ESCh. 11.2 - Prob. 37ESCh. 11.2 - Compound Interest How much money should be...Ch. 11.2 - Prob. 39ESCh. 11.2 - Prob. 40ESCh. 11.2 - Prob. 41ESCh. 11.2 - Prob. 42ESCh. 11.2 - Prob. 43ESCh. 11.2 - Prob. 44ESCh. 11.2 - Loans To help pay your college expenses, you...Ch. 11.2 - Loans You borrow $6000 to help pay your college...Ch. 11.2 - Prob. 47ESCh. 11.2 - Present Value A couple plans to invest money for...Ch. 11.2 - Present Value You want to retire in 30 years with...Ch. 11.2 - Prob. 50ESCh. 11.2 - Compound Amount You deposit S5000 in a two-year...Ch. 11.2 - Prob. 52ESCh. 11.2 - Prob. 53ESCh. 11.2 - Inflation The average cost of housing in...Ch. 11.2 - Inflation Suppose your salary in 2015 is $40.000....Ch. 11.2 - Prob. 56ESCh. 11.2 - Inflation In 2014, you purchase an insurance...Ch. 11.2 - Prob. 58ESCh. 11.2 - Inflation A retired couple have a fixed income of...Ch. 11.2 - Inflation A retired couple have a fixed income of...Ch. 11.2 - Prob. 61ESCh. 11.2 - Prob. 62ESCh. 11.2 - Prob. 63ESCh. 11.2 - Prob. 64ESCh. 11.2 - Prob. 65ESCh. 11.2 - Prob. 66ESCh. 11.2 - Prob. 67ESCh. 11.2 - Prob. 68ESCh. 11.2 - Prob. 69ESCh. 11.2 - Prob. 70ESCh. 11.2 - Prob. 71ESCh. 11.2 - Prob. 72ESCh. 11.2 - Prob. 73ESCh. 11.2 - Prob. 74ESCh. 11.2 - Prob. 75ESCh. 11.2 - Prob. 76ESCh. 11.2 - Prob. 77ESCh. 11.2 - Calculate the purchasing power using an annual...Ch. 11.2 - Prob. 79ESCh. 11.2 - Prob. 80ESCh. 11.2 - Calculate the purchasing power using an annual...Ch. 11.2 - Prob. 82ESCh. 11.2 - Prob. 83ESCh. 11.2 - Effective Interest Rate Beth Chipman has money in...Ch. 11.2 - Effective Interest Rate Blake Hamilton has money...Ch. 11.2 - Annual Yield One bank advertises an interest rate...Ch. 11.2 - Prob. 87ESCh. 11.2 - Annual Yield Which investment has the higher...Ch. 11.2 - Annual Yield One hank advertises an interest rate...Ch. 11.2 - Continuous Compounding In our discussion of...Ch. 11.3 - Suppose you decide to obtain a 4-year lease for a...Ch. 11.3 - Prob. 2EECh. 11.3 - Jorge Cruz obtains a 3-year lease for an economy...Ch. 11.3 - Suppose you obtain a 5-year lease for a Porsche...Ch. 11.3 - Prob. 5EECh. 11.3 - Prob. 6EECh. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Calculate the finance charge for a credit card...Ch. 11.3 - Prob. 4ESCh. 11.3 - Average Daily Balance A credit card account had a...Ch. 11.3 - Prob. 6ESCh. 11.3 - Prob. 7ESCh. 11.3 - Finance Charges A charge account had a balance of...Ch. 11.3 - Prob. 9ESCh. 11.3 - Finance Charges On May 1, a credit card account...Ch. 11.3 - You may want to use the spreadsheet program...Ch. 11.3 - You may want to use the spreadsheet program...Ch. 11.3 - Prob. 13ESCh. 11.3 - Prob. 14ESCh. 11.3 - Use the approximate annual percentage rate...Ch. 11.3 - Prob. 16ESCh. 11.3 - Monthly Payments Arrowoods Camera Stare advertises...Ch. 11.3 - Monthly Payments Optics Mart offers a Meade ETX-LS...Ch. 11.3 - Prob. 19ESCh. 11.3 - Buying on Credit Waterworid marina offers a...Ch. 11.3 - Buying on Credit After becoming a commercial...Ch. 11.3 - Buying on Credit Donald Savchenko purchased new...Ch. 11.3 - Prob. 23ESCh. 11.3 - Car Payments Suppose you negotiate a selling price...Ch. 11.3 - Car Payments Margaret Hsi purchases a classic car...Ch. 11.3 - Prob. 26ESCh. 11.3 - Car Payments Suppose you purchase a car for a...Ch. 11.3 - Car Payments Adele Paolo purchased an SUV for a...Ch. 11.3 - Loan Payoffs Angela Montery has a 5-year car loan...Ch. 11.3 - Loan Payoffs Suppose you have a 4-year car loan at...Ch. 11.3 - Loan Payoffs Suppose you have a 4-year car loan at...Ch. 11.3 - Loan Payoffs Mine Li has a 3-year car loan at an...Ch. 11.3 - Student Loans Samuel Ng received a 5-year...Ch. 11.3 - Student Loans Melissa Hernandez received an 8-year...Ch. 11.3 - Student Loans Angelica Reardon received a 5-year...Ch. 11.3 - Student Loans Jeffery Wei received a 6-year...Ch. 11.3 - Prob. 37ESCh. 11.3 - Credit Card Debt The APR loan payoff formula can...Ch. 11.3 - Prob. 39ESCh. 11.4 - The face value of a Treasury bill is $30,000. The...Ch. 11.4 - The face value of a 91-day Treasury bill is...Ch. 11.4 - A company invests in a 29-day. $60000 United...Ch. 11.4 - A $40,000 United States Treasury bill, purchased...Ch. 11.4 - Annual Dividends A stock pays an annual dividend...Ch. 11.4 - Prob. 2ESCh. 11.4 - Annual Dividends Calculate the dividends paid to a...Ch. 11.4 - Annual Dividends Calculate the dividends paid to a...Ch. 11.4 - Dividend Yield Find the dividend yield for a stock...Ch. 11.4 - Dividend Yield The Blackburn Computer Company has...Ch. 11.4 - Dividend Yield A stock that pays an annual...Ch. 11.4 - Dividend Yield The Moreau Corporation is paying an...Ch. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 10ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 12ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 14ESCh. 11.4 - Use the partial stock table shown below for...Ch. 11.4 - Prob. 16ESCh. 11.4 - Bonds A bond with a face value of $6000 and a 4.2%...Ch. 11.4 - Prob. 18ESCh. 11.4 - Prob. 19ESCh. 11.4 - Bonds A bond has a $12,000 face value, an 8-year...Ch. 11.4 - Mutual Funds A mutual fund has total assets of...Ch. 11.4 - Prob. 22ESCh. 11.4 - Mutual Funds A mutual fund has total assets of $15...Ch. 11.4 - Prob. 24ESCh. 11.4 - 25. Mutual Funds A mutual fund has $500 million...Ch. 11.4 - Prob. 26ESCh. 11.4 - Prob. 27ESCh. 11.4 - Prob. 28ESCh. 11.4 - Prob. 29ESCh. 11.5 - Calculate the monthly payment for the loan.Ch. 11.5 - Prob. 2EECh. 11.5 - Prob. 3EECh. 11.5 - Prob. 4EECh. 11.5 - Prob. 5EECh. 11.5 - Prob. 6EECh. 11.5 - Prob. 7EECh. 11.5 - Prob. 8EECh. 11.5 - Prob. 9EECh. 11.5 - Mortgages You buy a $258,000 home with a down...Ch. 11.5 - Prob. 2ESCh. 11.5 - Points Clarrisa Madison purchases a home and...Ch. 11.5 - Points Jerome Thurber purchases a home and secures...Ch. 11.5 - Closing Costs The purchase price of a home is...Ch. 11.5 - Closing Costs The purchase price of a home is...Ch. 11.5 - Closing Costs The purchase price of a condominium...Ch. 11.5 - Prob. 8ESCh. 11.5 - Mortgage Payments Find the mortgage payment for a...Ch. 11.5 - Prob. 10ESCh. 11.5 - Prob. 11ESCh. 11.5 - Prob. 12ESCh. 11.5 - Prob. 13ESCh. 11.5 - Mortgage Payments Richard Miyashiro purchased a...Ch. 11.5 - Interest Paid Ira Patton purchased a home and...Ch. 11.5 - Interest Paid Leona Jefferson purchased a home and...Ch. 11.5 - Principal and Interest Marcel Thiessen purchased a...Ch. 11.5 - Prob. 18ESCh. 11.5 - Prob. 19ESCh. 11.5 - Principal and Interest Fay Nguyen purchased a...Ch. 11.5 - Loan Payoffs After making payments of $913.10 for...Ch. 11.5 - Prob. 22ESCh. 11.5 - Loan Payoffs Iris Chung has a 15-year mortgage...Ch. 11.5 - Prob. 24ESCh. 11.5 - Total Monthly Payment A homeowner has a mortgage...Ch. 11.5 - Prob. 26ESCh. 11.5 - Prob. 27ESCh. 11.5 - Prob. 28ESCh. 11.5 - Prob. 29ESCh. 11.5 - Prob. 30ESCh. 11.5 - Mortgage Loans The Mendez family is considering a...Ch. 11.5 - Prob. 32ESCh. 11.5 - Prob. 33ESCh. 11.5 - Affordability You have saved $18,000 for a down...Ch. 11.5 - Prob. 35ESCh. 11.5 - Amortization Schedules Suppose you have a 30-year...Ch. 11.5 - Prob. 37ESCh. 11.5 - Prob. 38ESCh. 11.5 - Prob. 39ESCh. 11 - Simple Interest Calculate the simple interest due...Ch. 11 - Prob. 2RECh. 11 - Prob. 3RECh. 11 - Maturity Value Calculate the maturity value of a...Ch. 11 - 5. Simple Interest Rate The simple interest...Ch. 11 - Prob. 6RECh. 11 - Compound Amount What is the compound amount when...Ch. 11 - Prob. 8RECh. 11 - Compound Interest Calculate the amount of interest...Ch. 11 - Prob. 10RECh. 11 - Loans To help pay your college expenses, you...Ch. 11 - Present Value A couple plans to save for their...Ch. 11 - Prob. 13RECh. 11 - Bonds A bond with a $20,000 face value has a 4.5%...Ch. 11 - Prob. 15RECh. 11 - Prob. 16RECh. 11 - Prob. 17RECh. 11 - Annual Yield Which has the higher annual yield....Ch. 11 - Average Daily Balance A credit card account had a...Ch. 11 - Prob. 20RECh. 11 - APR Arlene McDonald borrows $1500 from a bank that...Ch. 11 - Prob. 22RECh. 11 - Prob. 23RECh. 11 - Monthly Payments Abeni Silver purchases a Samsung...Ch. 11 - Car Payments Suppose that you decide to purchase a...Ch. 11 - Loan Payoffs Dasan Houston obtains a $28,000,...Ch. 11 - Prob. 27RECh. 11 - Mutual Funds A mutual fund has total assets of $34...Ch. 11 - Prob. 29RECh. 11 - Prob. 30RECh. 11 - Prob. 31RECh. 11 - Prob. 32RECh. 11 - Student Loans A student receives a non-subsidized...Ch. 11 - Simple Interest Calculate the simple interest due...Ch. 11 - Prob. 2TCh. 11 - Prob. 3TCh. 11 - Simple Interest Rate The simple interest charged...Ch. 11 - Compound Amount What is the compound amount when...Ch. 11 - Prob. 6TCh. 11 - Prob. 7TCh. 11 - Present Value A young couple wants to save money...Ch. 11 - Dividend Yield A stock that has a market value of...Ch. 11 - Bonds Suppose you purchase a $5000 bond that has a...Ch. 11 - Prob. 11TCh. 11 - Prob. 12TCh. 11 - Prob. 13TCh. 11 - Prob. 14TCh. 11 - APR Suppose that vu purchase a 2-in-I laptop...Ch. 11 - Monthly Payments Technology Pro offers a new...Ch. 11 - Prob. 17TCh. 11 - Mutual Funds A mutual fund has total assets of $42...Ch. 11 - Monthly Payments Kalani Canfield purchases a...Ch. 11 - Closing Costs The purchase price of a house is...Ch. 11 - Mortgage Payments and Loan Payoffs Bernard Mason...Ch. 11 - Prob. 22T
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