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A stork delivers babies to families living on Dorchester avenue. The bird carries one baby at a time from its nest to each home on the street.
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The distance between the nest and the first house is x meters, and the distances between adjacent houses is 20 meters.
When delivering a baby to the 7th house on the street, the stork flies a round trip distance of 290 meters.
Determine the value of x.
Find the total distance, in kilometers, that the stork must fly to deliver 32 babies.
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Quinn takes out a loan of $350,000 to purchase a small condo in Boston. The bank agrees to lend to him at an 8% annual interest rate, compounded monthly.
To repay the loan, Quinn makes monthly payments of $P over 15 years.
Determine the value of P to the nearest dollar.
Calculate the total payments Quinn makes to the bank.
Hence find the total interest paid by Quinn.
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Jacob is choosing between two ways to save up for a vacation planned 7 years from now. He is considering two different strategies to save a total of €Q for his vacation.
Option A: Deposit €4000 today in an account that earns 4.2% annual interest, compounded monthly.
Option B: Deposit €P at the end of each month until the vacation in an account that earns 5% annual interest, compounded monthly.
Calculate, to the nearest euro, the value of €Q.
Find the value of P, giving your answer to two decimal places.
Determine which option yields greater total interest, and state by how much.
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On January 1st, 2017, Teddy makes an investment of $100,000 into a savings account that produces a 6% nominal annual return.
Ten years later, the real value of Teddy's bank balance is $125,000.
Determine the real annual interest rate to two decimal places.
Find i%, the average inflation rate (to two decimal places) Teddy experienced over the course of the decade.
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Given that n=1∑15(5+kn)=−105, find the value of k.
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An arithmetic sequence has u9=20 and S12=180. Find the value of u1 and the value of d.
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