Solutions Manual – Business Mathematics in Canada, 10th Edition – F. Ernest Jerome & Tracy Worswick – ISBN 9781264865581 (Complete Chapters 1–17)

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Business Mathematics in
Canada, 10th Edition
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SOLUTIONS
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MANUAL
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F. Ernest Jerome, Tracy Worswick
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Comprehensive Solutions Manual for Instructors
and Students
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9781264865581

© F. Ernest Jerome & Tracy Worswick. All rights reserved.
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Reproduction or distribution without permission is prohibited.
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© MEDGEEK

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TABLE OF CONTENTS

Solutions Manual – Business Mathematics in Canada (10th Edition)
Authors: F. Ernest Jerome and Tracy Worswick
ISBN: 9781264865581
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PART I: MATHEMATICAL FUNDAMENTALS AND BUSINESS APPLICATIONS
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Chapter 1: Review and Applications of Basic Mathematics
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Chapter 2: Review and Applications of Algebra
Chapter 3: Percent and Percent Change
Chapter 4: Ratios and Proportions
Chapter 5: Mathematics of Merchandising
Chapter 6: Applications of Linear Equations
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PART II: SIMPLE INTEREST

Chapter 7: Simple Interest
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Chapter 8: Applications of Simple Interest

PART III: COMPOUND INTEREST

Chapter 9: Compound Interest: Future Value and Present Value
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Chapter 10: Compound Interest: Further Topics and Applications

PART IV: ANNUITIES
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Chapter 11: Ordinary Annuities: Future Value and Present Value
Chapter 12: Ordinary Annuities: Periodic Payment, Number of Payments, and Interest Rate
Chapter 13: Annuities Due
Chapter 14: Annuities: Special Situations
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PART V: INVESTMENT AND LOAN ANALYSIS

Chapter 15: Loan Amortization: Mortgages
Chapter 16: Bonds and Sinking Funds
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Chapter 17: Business Investment Decisions
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Complete Solution Manual for
Business Mathematics In Canada 10th
edition F. Ernest Jerome, Tracy Worswick
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1 Review and Applications of
Basic Mathematics
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Exercise 1.1
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a. 10 + 10 x 0 = 10 + 0 = 10
b. 2x2+4–8=4+4–8=0
c. (10 + 10) x 0 = 20 x 0 = 0
d. 2 x (2 + 4) – 8 = 2 x 6 – 8 = 12 – 8 = 4
e. 0 + 3 x 3 – 32 + 10 = 0 + 9 – 9 + 10 = 10
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f. 12 – 2 x 5 + 22 x 0 = 12 – 10 + 4 x 0 = 12 – 10 + 0 = 2
g. 0 + 3 x 3 – (32 + 10) = 0 + 9 – 19 = -10
h. (12 – 2) x (5 + 22) x 0 = 10 x 9 x 0 = 0
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22 - 4 4-4 0
i. 2
= 2
= =0
(4- 2) 2 4

(2 - 4)2 (-2)2 4
= = =4
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j. 5- 22 5- 4 1

1. 20  4  2  8  20  8  8  4
2. 18  3  6  2  6  12  18
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3. 20  4  2  8  16  2  8  32  8  24
4. 18  3  6  2  18  9  2  2  2  4
5. 20  4  2  8  20  8  8  20
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6. 18  3  6  2  6  6  2  24
7. 54  36  4  2 2  54  9  4  49

8. 5  32  3 2  9  3  8 2  9  9  3  64  1  3  66
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9. 54  36  4  2 2  18  6 2  18  36  0.5
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10. 5  3 2  3  2
 9  3   5  9  3 2  12  5  36  12  5  3  8

82  42 64  16 48
11.   6
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4  2 3
2 3 8

8  42 42 16
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12.    4
4  23 48 4
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13. 36  4 2  517  20 2  3  10 2  5 3 2  3  100  5  9  300  45  255

14. 4  3  22  4  3  2 2   12  22  4  3  4  10 2  4  12  100   8   12.5
15. 20  8  5  7   3  9  20  40  21  9  81  9  9
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   
2
16. 5 19  5 2  16   5 19  25  16 2  519  812  5  100 2  50 ,000
2 2
 
17. $1001 0.06  365
45
  $1001 0.00739726  $100.74
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$200 $200 $200
18.    $194.17
1  0.09  12 1  0.03 1.03
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$500 $500 $500
19.    $453.51
1  0.05 2
1.05 2
1.1025
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 
20. $1000 1  0.02  $1000 1.023  $1000  1.061208   $1061.21
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 1  0.042  1  1.04 2  1
  $100
0.0816 
21. $100   $100    $204.00
 0.04 
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 0.04   0.04 
 1   1 
1  2   1 
22. $300 
1  0.03    $300 1.0609   $300 1  0.942596   $574.04
 0.03   0.03   0.03 
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   
   

Concept Questions (Section 1.2)
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1. You must retain at least one more figure than you require in the answer. To achieve four-
figure accuracy in the answer, you must retain a minimum of five figures in the values
used in the calculations. B)
2. We want six-figure accuracy in the answer. Therefore, values used in the calculations
must be accurate to at least seven figures. B)
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3. We want seven-figure accuracy in the answer. Therefore, values used in the calculations
must retain at least eight figures. C)
4. To be accurate to the nearest 0.01%, an interest rate greater than 10% must have four-
figure accuracy. Therefore, five figures must be retained in numbers used in the
calculations. C)
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