Cycle 5 Test

Consider the arithmetic sequence:

-24 , -17, -10, -3, (a)  

Is 835 a term in the sequence?

Stella receives a loan of $32 000 for her flower shop business at an interest rate 5.29% per year, compounded monthly. She agrees to pay back the loan in 60 equal installments, made at the end of each month over the next 5 years.

Calculate the minimum monthly payment

Stella receives a loan of $32 000 for her flower shop business at an interest rate 5.29% per year, compounded monthly. She agrees to pay back the loan in 60 equal installments, made at the end of each month over the next 5 years.

After paying for 4 years, Stella decided to repay the remainder in the loan in one payment. Calculate the final payment amount

Angel has $520 in his savings account. Angel considers investing the money for 5 years with a bank. The bank offers an annual interest rate of 1.2% compounded quarterly.

a Calculate the amount of money Angel would have at the end of 5 years with the bank. Give your answer correct to two decimal places.

(a)  

Angel has $520 in his savings account. Angel considers investing the money for 5 years with a bank. The bank offers an annual interest rate of 1.2% compounded quarterly.

How many years will it take for his account to triple?

(a)