Primavera College Math Prep Final UPDATED Actual Exam Questions and CORRECT Answers
5 views 0 purchase
Course
Primavera College Math
Institution
Primavera College Math
Primavera College Math Prep Final
UPDATED Actual Exam Questions and
CORRECT Answers
The Sanchez family takes out a $200,000$200,000 loan for their fixed-rate, 30-30-year
mortgage. The annual interest rate for the loan is 4%.4%.
What is their monthly payment? - CORRECT ANSWER- $954.83
Farrah...
Primavera College Math Prep Final
UPDATED Actual Exam Questions and
CORRECT Answers
The Sanchez family takes out a $200,000$200,000 loan for their fixed-rate, 30-30-year
mortgage. The annual interest rate for the loan is 4%.4%.
What is their monthly payment? - CORRECT ANSWER✔✔- $954.83
Farrah borrows $18,000$18,000 to purchase a new car. The annual interest rate for the 60-60-
month loan is 4.3%.4.3%.
If she makes all the monthly payments, what is the total amount of interest she will pay on
the loan? - CORRECT ANSWER✔✔- $2,036.39
Tamaya purchased an ordinary annuity that earns 3.5%3.5% interest. She will receive 2020
payments of $700,$700, once a quarter over 55 years.
What is the present value of the annuity? - CORRECT ANSWER✔✔- $12,792.30
Nita invested in a simple, ordinary annuity that earns 4.1%4.1% interest, compounded
semiannually. She deposits $600$600 semiannually for 1010 years at 4.1%4.1% interest.
What is the value of the annuity after 1010 years? - CORRECT ANSWER✔✔- XXX
$9,763.69
An account that compounds interest monthly has an annual percentage yield of 6.2%.6.2%.
What is the annual interest rate for the account? - CORRECT ANSWER✔✔- XXX 6.38%
An account has an annual interest rate of 5.3%,5.3%, compounded monthly.
What is the annual percentage yield? - CORRECT ANSWER✔✔- 5.43%
Parvati invests $5,500$5,500 in an account that earns an annual interest rate of 7.2%,7.2%,
compounded daily.
What is the value of the investment after 33 years? - CORRECT ANSWER✔✔- XXX
$6,775.59
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
