UH Manoa - PH 201 (D. Nelson-Hurwitz) - Quiz 9 verified already passed

UH Manoa - PH 201 (D. Nelson-Hurwitz) - Quiz 9 verified already passed You have $2500 to invest in an account that earns 3.6% interest per year compounded monthly. How much money will you have in your account after 9 months? $2568.00 A = P [ ( 1 + r/n ) ^ nt ] A = 2500 [ ( 1 + [ 0.036 / 12 ] ) ^ (12)(0.75) ] A = 2500 [ ( 1 + 0.003 ) ^ 9 ] A = 2500 [ (1.003) ^ 9 ] A = 2500 (1.) A = $2568.315696 A ≈ $2568.32 You would like to buy a laptop for $1370. You are offered a payment option where there is no payment for the first six months, but the $1370 must be repaid at the end of that time with an annual simple interest rate of 20.4%. Find the total cost. $1509.74 I = Prt I = (1370) (0.204) (6/12) I = (1370) (0.204) (0.5) I = $139.74 C = P + I C = 1370 + 139.74 C = 1509.74 You have accumulated a balance of $2200 on a credit card that has an annual interest rate of 21.9%. Assume that no additional purchases are made using this credit card. How much will you need to pay each month to pay off the balance over 9 months? Q = P * { (r/n) / [ 1 - [ ( 1 + r/n) ^ -nt ] ] } Q = 2200 * {(0.219/12)/[ 1 - [( 1 + 0.219/12)] ^ - (12) (0.75)]]} Q = 2200 * { (0.01825) / [ 1 - [ ( 1 + 0.01825) ] ^ -9 ] ] } Q = 2200 * { (0.01825) / [ 1 - ( 1.01825 ^ -9 ) ] } Q = 2200 * { (0.01825) / [ 1 - 0. ] } Q = 2200 * { 0.01825 / 0. } Q = 2200 * 0. Q = $267.2876349 Q ≈ $267.29 1. Identify smaller problems or identify a subgoal or subproblem. A. Devise a plan B. Understand the problem C. Carry out the plan A. Devise a plan 2. Examining a special case may help you to understand what is going on with the more general case. A. Devise a plan B. Understand the problem C. Carry out the plan A. Devise a plan