# 1) Dewey Cheatam invests \$3,500 at the beginning of each quarter for 10 years at a rate of 11% compounded daily. What is the future value of Dewey’s

1) Dewey Cheatam invests \$3,500 at the beginning of each quarter for 10 years at a rate of 11% compounded daily. What is the future value of Dewey’s investment?2) In 6 years and 3 months, the firm of Dewey, Cheatam and Howe will have to repay a \$70,000 bond they have recently issued. Assume a 7 3/4% rate of interest compounded semiannually. How much are they going to be paying each quarter to be able to have the sum of \$70,000 at the end of the 6 Year 3 month term?3) Alex is retiring today and he knows he will be able to withdraw \$25,000 at the end of each year beginning one year from now. He also knows that this money will last him until his social security kicks in in 10 years. The interest rate is 5.25%. Earnings will compound daily. How much does Alex have in the bank today that allows him to pull \$25,000 out for 10 years (assume that this savings account will be at zero (0) at the end of 10 years)?4) I am starting a college fund for my child that will run for 18 years. I am planning to deposit \$70 per week into a savings account that will earn me 3.3% interest compounded daily. This will be an annuity due savings plan. How much will I have at the end of the 18 years?5) I am setting up a sinking fund with quarterly payments to pay my investors the amount of \$400,000 at the end of 15 years. I will be paying into this fund at the beginning of each period. The interest rate I will earn will be 7.25% and it will be compounded daily. What will my quarterly payments be?6) A particular company produces widgets. Each widget sells for \$9, and the variable cost of producing each unit is 40% of the selling price. If the monthly fixed costs incurred by the company are \$50,000, what is the break-even point?7) For a particular item the supply equation is given by S = 2p + 5. At a price of \$1, 19 units of this product are demanded. If the demand equation is linear and the demand is 11 units at a price of \$3, find the demand equation.

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