BUSI 1003 Math for Assignment

BUSI 1003 Math for AssignmentWWW.YORKVILLEU.CABUSI 1003: Math for AssignmentsAssignment 1 QuestionsBased on Unit 1 & 2Total 100 marksEach question carries 6 marks(13X6=78).Only the question 11 & 13 carries 11 marks each(2X11=22).1. Solve: (6 + 3)2 – 17 × 3 + 702. Solve:3. During Michael Jordan’s NBA career (1984–2003), he averaged a free throw completion percentage of 83.5% in regular season play. If Jordan threw 8,772 free throws in his career, how many completed free throws did he make?4. A machine can produce 2,500 products per hour. If 37 of those products were defective, what is the defect rate per hour for the machine?5.6. A bottle of liquid laundry detergent priced at $16.99 for a 52-load bottle has been changed to $16.49 for a 48-load bottle. By what percentage has the price per load changed?7. Kerry participated in a fundraiser for the Children’s Wish Foundation yesterday. She sold 115 pins for $3 each, 214 ribbons for $4 each, 85 coffee mugs for $7 each, and 347 baseball hats for $9 each. Calculate the average amount Kerry raised per item.8. Canadian Tire is having an end-of-season sale on barbecues, and only four floor models remain, priced at $299.97, $345.49, $188.88, and $424.97. What is the average price for the barbecues?9. EB Games sells gaming consoles. Last month, it sold $22,500 worth of Nintendo Wii consoles, $31,500 worth of Microsoft Xbox consoles, and $18,000 worth of Sony PlayStation consoles. Express the ratio of Wii to Xbox to PlayStation sales in its lowest terms10. If one Canadian dollar buys $1.0385 of US dollars, how much US money can you spend so that you do not exceed the maximum duty-free amount of $800 Canadian on your next US vacation?11. Solve:12. Solve:13. In 2011, Canadian federal tax rates were 0% on the first $10,527 of gross income earned, 15% on the next $31,017, 22% on the next $41,544, 26% on the next $45,712, and 29% on anything more. If a taxpayer paid $28,925.35 in federal tax, what was her gross annual income for 2011?14. Solve15. Solve : ln(1.0127541)Assignment 2Based on Unit 3 & 4Total 100 marksEach question carries 10 marks.1. Suppose Robin borrowed $3,600 on October 21 and repaid the loan on February 21 of the following year. What simple interest rate was charged if Robin repaid $3,694.63?2. Tula lent $15,000 to a business associate on August 12 at 6% simple interest. The loan was to be repaid on November 27; however, the business associate was unable to make the payment. As a consequence, they agreed that the associate could repay the debt on December 29 and that Tula would add $200 to the balance that was due on November 27. What rate of simple interest is Tula charging on the late payment?3. An investor with $75,000 is weighing options between a 200-day GIC or two back-to-back 100-day GICs. The 200-day GIC has a posted simple interest rate of 1.4%. The 100-day GICs have a posted simple interest rate of 1.35%. The maturity value of the first 100-day GIC would be reinvested in the second 00-day GIC (assume the same interest rate upon renewal). Which alternative is best and by how much?4. A $4,700 promissory note is issued on November 12 for an 11-month term (February is a leap year) carrying an annual interest rate of 12%. It is sold on July 3 with a negotiated interest rate of 16%. Determine the proceeds of the sale.5. A Government of Canada V39065 issue 90-day T-bill achieved its highest rate of return on May 24, 2000, with a yield of 5.74%. It realized its lowest rate of return on February 26, 2010, with a yield of 0.16%. Calculate the purchase price of a $100,000 T-bill on each of these dates. In dollars, how much more yield did an investor realize in 2000 than in 2010?6. What level of output will generate a net income of $15,000 if a product sells for $24.99, has unit variable costs of $9.99, and total fixed costs of $55,005?7. The Puzzle Company had total revenue of $4,750,000, total fixed costs of $1,500,000, and total variable costs of $2,750,000. If the company desires to earn a net income of $1,000,000, what total sales volume is needed to achieve the goal?8. Daisy is trying to figure out how much negotiating room she has in purchasing a new car. The car has an MSRP of $34,995.99. She has learned from an industry insider that most car dealerships have a 20% markup on selling price. What does she estimate the dealership paid for the car?9. Frigid Boards purchases one of its snowboards for $395 less a retail trade discount of 15% and a loyalty discount of 4%. Its markup on selling price percentage on all snowboards is 21%. At the end of the season, any leftover snowboards are marked down by 10%. What is the sale price for the snowboard?10. Procter & Gamble just received payment for a large export of Tide in the amount of 275,000 Denmark kroner (DKK). If the exchange mid-rate is CAD$0.1992 per DKK and the bank charges 3% on its buy rates, how many Canadian dollars will Procter & Gamble receive?Assignment 3 QuestionsBased on Unit 6Total 100 marksEach question carries 10 marks.1. Betty just signed a contract for her business that will allow her to make interest-only payments for the next 12 months. If her interest rate is 12% compounded monthly and her outstanding principal is $5,000, how much will she pay in interest every month?2. After a period of three months, Alese saw one interest deposit of $176.40 for a principal of $9,800. What nominal rate of interest is she earning?3. What is the maturity value of your $7,800 investment after three years if the interest rate was 5% compounded semi annually for the first two years, 6% compounded quarterly for the last year, and 2½ years after the initial investment you made a deposit of $1,200? How much interest is earned?4. A debt of $37,000 is owed 21 months from today. If prevailing interest rates are 6.55% compounded quarterly, what amount should the creditor be willing to accept today?5. Darwin is a young entrepreneur trying to keep his business afloat. He has missed two payments to a creditor. The first was for $3,485 seven months ago and the second was for $5,320 last month. Darwin has had discussions with his creditor, who is willing to accept $4,000 one month from now and a second payment in full six months from now. If the agreed upon interest rate is 7.35% compounded monthly, what is the amount of the second payment?6. In a civil lawsuit, a plaintiff was awarded damages of $15,000 plus $4,621.61 in interest for a period of 3¼ years. What quarterly compounded rate of interest was used in the settlement?7. At what monthly compounded interest rate does it take five years for an investment to double?8. Your company’s union just negotiated a salary increase of 0.5% every three months. What effective increase in your salary was negotiated?9. GenX Holdings received an invoice from its supplier that indicates the penalty on overdue invoices will be charged at a rate of 3.4% per month. What effective rate of interest is being charged on overdue invoices?10. How long will it take $5,750 to become $10,000 at 6.25% compounded weekly?Assignment 4 QuestionsBased on Unit 7 & 8Question 1 will be of 20 marks all other questions are 10 marks each.Total 100 marks1. Your escalator rate GIC has annually compounded interest rates of 1.15%, 1.95%, 3.2%, 4.7%, and 6.6% in subsequent years. On a $15,140 investment, calculate the following:a. The amount of interest earned in each year. 15 marksb. The annually compounded equivalent fixed rate. 5 marks2. If a noninterest-bearing four-year promissory note is discounted 1½ years before maturity at a discount rate of 6.6% compounded semi-annually to have proceeds of $14,333.63, what is the principal amount of the note?3. A three-year interest-bearing promissory note for $8,900 at 3.8% compounded annually is sold one year and two months before its due date at a discount rate of 7.1% compounded monthly. What is the amount of the discount on the sale?4. You are a financial adviser. Your client is thinking of investing $600 at the end of every six months for the next six years with the invested funds earning 6.4% compounded semi-annually. Your client wants to know how much money she will have after six years. What do you tell your client?5. Sandy’s parents would like to have an annuity pay her $500 at the beginning of every month from September 1, 2012, to April 1, 2017, to help with her university tuition and living expenses. On May 1, 2017, they would like to give her a graduation gift of $5,000. If the annuity can earn 6.15% compounded monthly, how much money must be in the account on September 1, 2012?6. Gold’s Gym wants to offer its clients a monthly payment option on its annual membership dues of $490. If the gym charges 7.75% compounded quarterly on its membership fee, what beginning-of-month payments should it advertise?7. Amarjit wants to save up for a down payments on his first home. A typical starter home in his area sells for $250,000 and the bank requires a 10% down payment. If he starts making $300 month-end contributions to an investment earning 4.75% compounded monthly, how long will it take for Amarjit to have the necessary down payment?8. The neighbourhood grocery store owned by Raoul needs $22,500 to upgrade its fixtures and coolers. If Raoul contributes $3,000 at the start of every quarter into a fund earning 5.4% compounded quarterly, how long will it take him to save up the needed funds for his store’s upgrades?9. Following his financial adviser’s recommendations, Sanchez starts monthly contributions of $375 today to his RRSP. The plan is to have $240,000 in his RRSP after 20 years of monthly compounding. What nominal interest rate does the financial adviser think Sanchez’s RRSP will be able to realize?Assignment 5 QuestionsBased on unit 9 & 10Questions from 1 to 6 are 10 marks each.Question 7(25marks) & question 8(15 marks)Total 100 Marks1. Your objective is an annuity due paying $5,000 semi-annually for 5½ years at 4% compounded quarterly. How far in advance of this would you need to invest $20,000 at 6.82% compounded monthly? Assume 30 days in a month.2. Jeff and Sarah want an ordinary annuity to pay their daughter $1,000 monthly for three years and nine months for the duration of her educational studies starting August 1, 2024. What lump-sum amount do they need to invest on August 1, 2014, if the deferred annuity can earn 6.6% compounded monthly during the accumulation stage and 4% compounded quarterly during the income payments stage?3. Yarianny wants to withdraw $25,000 annually starting today for the next 20 years and will increase the withdrawals by 3.5% each year. If the annuity can earn 6% compounded semi-annually, how much money needs to be invested in the fund today?4. Nikolay wants to make annual contributions to his RRSP for the next 25 years. He will increase each annual payment by 4.5%, and the RRSP can earn 9.3% compounded annually. If he wants to accumulate $250,000, what is the amount of his first payment today?5. If $2,500,000 was invested at 4.8% compounded semi-annually, what payment at the end of every six months could be sustained in perpetuity?6. Samson just won the grand prize of $50 million in the Lotto Max lottery. If he invests the money into a perpetuity fund earning 5.5% compounded annually, what monthly payment can he expect to receive starting today?7. Quarterly payments are to be made against a $47,500 loan at 5.95% compounded annually with a six-year amortization. 25 marks (5 for each part)a. What is the size of the quarterly payment?b. Calculate the principal portion of the sixth payment.c. Calculate the interest portion of the 17th payment.d. Calculate how much the principal will be reduced in the fourth year.e. Calculate the total interest paid in the first year.8. A $28,250 loan at 9% compounded quarterly is repaid by monthly payments over five years.a. What is the amount of the final payment?b. Calculate the principal and interest portions of the payments in the final year. 15 marks (7.5 for each)BUSI 1003 Math For 1