Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Title of Assignment Assignment: Case Study Student Name: Student ID: Weight: 10% Marks: 35 Learning Outcomes · Apply compound interest formulas to solve basic financial problems. · Prepare a Word...

1 answer below »


Title of Assignment
Assignment: Case Study
Student Name:            Student ID:        
    Weight: 10%
    Marks: 35
Learning Outcomes
· Apply compound interest formulas to solve basic financial problems.
· Prepare a Word document to present financial findings.
Purpose
This assignment provides you with an opportunity to solve compound interest problems in a practical application. The finished document requires you to focus not only on mathematics but also professional writing and formatting of a Word document.
Instructions
Who: This assignment is completed individually.
What: Complete Case 9b on page 432 of the Vretta text.
Where: This assignment is completed out of class.
When: Please refer to the Course Schedule for the assignment due date.
How:
The case study is to be completed in a Word document. Questions are to be solved showing the formula, substitution and final answer, as is expected on your tests.
Formulas are to be entered in Word by selecting Insert, Equation and then using the equation palette in Microsoft Word to build the formulas.
You may insert Excel tables for calculations if you like or simply type the values you calculated manually into the equations in Word. Either method will be accepted.
Please write out the final answer to each question in a sentence and include an introduction to your case as well as the original questions.
Your case should "read" from start to finish without having to reference the original page from the text. That is, I should be able to read it as is and know where all the values come from as well as what is being calculated.
Marking Criteria
    Item
    Marks
    Introduction and questions included
    5
    Use of the Equation Editor (do not try to type in the formulas as text)
    5
    Solutions which include formula, substitution, answe
    10
    Sentence answers
    4
    Co
ectness of mathematics
    8
    Co
ectness of gramma
    3
    TOTAL:
    35
COMMENTS: ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
1 | School Name: Course Code/Name
    1
    Academic Services, BMAT 230: Business Mathematics
© 2016, Southern Alberta Institute of Technology
Answered 1 days After Aug 08, 2022

Solution

Rochak answered on Aug 09 2022
73 Votes
Given,
Interest Rate = 6% compounded semi-annually
Final Amount Paid = $80,654
Years = 2
Number of periods = 2
Answer a:
Initial Principal Amount
Solving for the Initial Principal Amount, we get
Initial Principal Amount = $71,660
Accumulated Interest
= Final Amount Paid – Initial Principal Amount
= $80,654 – $71,660
= $8,994
Answer...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here