Jonathon P. answered • 04/27/21

Helping Students Reach Their Potential

8.is Use interest formula

A = P(1 + (r/n))^nt

P = principal

n = number of compounding per year

t = number of years

A = amount at the end

A =90000

r =0.10

n =2

t =5

90000 = P(1 + (0.10/2) )^(2*5)

90000 = P( 1.05)^10

90000 = P*1.628894627

P = 90000/ 1.628894627=55252.19282

so to insure , it get to 90000, you must round up

P = $55252.20

=== checking answer

A= 55252.20*(1 +(0.10/2) ) ^(5*2) = 90000.0117

11.is $18,146.48

$155/(.1025 × (30/360)) = $18,146.34.

12.is $20823.97

N = 30

I/Y = 5

CPT PV = −2,0823.97

PMT = 0

FV = 90,000

PV = 90,000 ÷ 1.0530 = 20,823.97