Multiple Choice Questions Q1.

MultipleChoice Questions

Q1.

R=1125

S=25538

n=20

25538=1125(i/1+i)20-1)

i=2.7%

Q2.

m=12,000

p=

i=8%

n=13

12000=p(1.08)13

P=4412.38

Interest=12000-4412.38= 7587.62

References

Lial,M. L., Greenwell, R. N., &amp Ritchey, N. P. (2012). Finitemathematics (10th ed.). Boston, MA: Pearson Education.