Question 1

Use estimation to select the best response. Do not calculate. ​
A reasonable APR to pay for a 3-year automobile loan is
​

Accepted Answer

A reasonable APR for a 3-year automobile loan is typically in the range of 2-10%, and 6% falls within that range. Option B) 40% is extremely high and not reasonable for an automobile loan, and C) $2,000 is not a relevant answer to the question.

Question 2

Make a 6% offer on a Chevrolet Corsica that has a sticker price of $14,664 and a dealer cost of $13,705. ​

Accepted Answer

A 6% offer on the sticker price of $14,664 is calculated as $14,664 - (0.06 * $14,664) = $14,527.04, which rounds to $14,527.

Question 3

Find the first three terms of the sequence whose  th term is given.
​  ​  __________
​  __________
​  __________

Accepted Answer

The answer of Find the first three terms of the...

Question 4

Find the first five terms of the sequence. ​  ,  ,  ,  ​

Accepted Answer

The answer of Find the first five terms of the...

Question 5

Classify the sequence and supply the next term.
​
27, 64, 125, 216, ...
​
The next term is __________.
​
The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Accepted Answer

The answer of Classify the sequence and supply the next...

Question 6

Classify the sequence and supply the next term.
​
4, 6, 10, 16, ...
​
The next term is __________.
​
The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Accepted Answer

The answer of Classify the sequence and supply the next...

Question 7

Find the first three terms of the sequence whose nth term is given.
​  ​
​  __________
​  __________
​  __________

Accepted Answer

The answer of Find the first three terms of the...

Question 8

Find the first three terms of the sequence whose  th term is given.
​  ​
​  __________
​  __________
​  __________

Accepted Answer

The answer of Find the first three terms of the...

Question 9

Find the 15th term of the sequence.
​  ​  __________

Accepted Answer

The answer of Find the 15th term of the sequence.
​...

Question 10

Find the 16th term of the sequence. ​  ​

Accepted Answer

The answer of Find the 16th term of the sequence....

Question 11

Use estimation to select the best response. Do not calculate. ​
If your credit card balance is $650 and the interest rate is 12% APR, then the credit card interest charge is
​

Accepted Answer

The interest charge for one month is approximately 1% of the balance (12% APR divided by 12 months), which is about $6.50.

Question 12

Find the 14th term of the sequence.
​  ​  __________

Accepted Answer

The answer of Find the 14th term of the sequence.
​...

Question 13

Find the 15th term of the sequence. ​  ​

Accepted Answer

The answer of Find the 15th term of the sequence....

Question 14

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. ​
$600 balance, 14%, $100 payment, adjusted balance method
​

Accepted Answer

1. Calculate the adjusted balance:
$600 - $100 = $500

2. Calculate the average daily balance:
($500 × 20 days) + ($600 × 10 days) = $14,000
30 days

3. Calculate the monthly interest rate:
14% ÷ 12 = 1.17%

4. Calculate the monthly finance charge:
$14,000 × 1.17% = $163.80
Since the payment of $100 was made, the actual finance charge will be lower:
$163.80 ÷ 30 days × 20 days = $81.90
$81.90 ÷ 100 = $0.819
Round up to the nearest cent: $0.83

5. Convert to a monthly finance charge:
$0.83 × 12 = $9.96
$9.96 ÷ 100 = $0.096
Round up to the nearest cent: $0.10

6. Finally, convert to a monthly finance charge:
$0.10 ÷ 3 = $0.033
Round up to the nearest cent: $0.04

Therefore, the monthly finance charge for this credit card transaction is $0.04 or $5.83 annually.

Question 15

Classify the sequence and supply the next term.
​
3, 6, 9, 12, ...
​
The next term is __________.
​
The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Accepted Answer

The answer of Classify the sequence and supply the next...

Question 16

Use estimation to select the best response. Do not calculate. ​
If you purchase a $2,400 item and pay for it with monthly installments for 2 years, the monthly payment is __________.
​

Accepted Answer

To estimate, we can divide the total cost ($2,400) by the number of months (24 months in 2 years) to get an approximate monthly payment.

$2,400 ÷ 24 months = $100 per month

However, we also need to factor in any interest or financing fees that may be added. Typically, when paying for an item in installments, there will be some form of interest or financing charge. Based on this, it is likely that the monthly payment will be more than $100 per month. Therefore, the best choice is A: more than $100 per month.

Question 17

Find the first three terms of the sequences whose nth terms are given. ​  ​

Accepted Answer

The answer of Find the first three terms of the...

Question 18

Classify the sequence and supply the next term.
​
1, 2, 4, 8, ...
​
The next term is __________.
​
The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Accepted Answer

The answer of Classify the sequence and supply the next...

Question 19

Find the first five terms of the sequence where
​  ,  ,  ,  ​  __________
​  __________
​  __________
​  __________
​  __________

Accepted Answer

The answer of Find the first five terms of the...

Question 20

Convert the credit card rate to the APR. ​
Ohio, 0.02192% daily rate.
​

Accepted Answer

To convert a daily interest rate to an annual percentage rate (APR), you multiply the daily rate by the number of days in a year. Given a daily rate of 0.02192%, the APR is 0.02192% * 365 = 8%.

Quiz 11: The Nature of Sequences, Series, and Financial Management

Use estimation to select the best response. Do not calculate. A reasonable APR to pay for a 3-year automobile loan is

Make a 6% offer on a Chevrolet Corsica that has a sticker price of $14,664 and a dealer cost of $13,705.

Find the first three terms of the sequence whose th term is given. __

Find the first five terms of the sequence. , , ,

Classify the sequence and supply the next term. 27, 64, 125, 216, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Classify the sequence and supply the next term. 4, 6, 10, 16, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Find the first three terms of the sequence whose nth term is given. __

Find the first three terms of the sequence whose th term is given. __

Find the 15th term of the sequence. __________

Find the 16th term of the sequence.

Use estimation to select the best response. Do not calculate. If your credit card balance is $650 and the interest rate is 12% APR, then the credit card interest charge is

Find the 14th term of the sequence. __________

Find the 15th term of the sequence.

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. $600 balance, 14%, $100 payment, adjusted balance method

Classify the sequence and supply the next term. 3, 6, 9, 12, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Use estimation to select the best response. Do not calculate. If you purchase a $2,400 item and pay for it with monthly installments for 2 years, the monthly payment is __________.

Find the first three terms of the sequences whose nth terms are given.

Classify the sequence and supply the next term. 1, 2, 4, 8, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Find the first five terms of the sequence where , , , __

Convert the credit card rate to the APR. Ohio, 0.02192% daily rate.

Quiz 11: The Nature of Sequences, Series, and Financial Management

Use estimation to select the best response. Do not calculate. ​ A reasonable APR to pay for a 3-year automobile loan is ​

Make a 6% offer on a Chevrolet Corsica that has a sticker price of $14,664 and a dealer cost of $13,705. ​

Find the first three terms of the sequence whose th term is given. ​ ​ __________ ​ __________ ​ __________

Find the first five terms of the sequence. ​ , , , ​

Classify the sequence and supply the next term. ​ 27, 64, 125, 216, ... ​ The next term is __________. ​ The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Classify the sequence and supply the next term. ​ 4, 6, 10, 16, ... ​ The next term is __________. ​ The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Find the first three terms of the sequence whose nth term is given. ​ ​ ​ __________ ​ __________ ​ __________

Find the first three terms of the sequence whose th term is given. ​ ​ ​ __________ ​ __________ ​ __________

Find the 15th term of the sequence. ​ ​ __________

Find the 16th term of the sequence. ​ ​

Use estimation to select the best response. Do not calculate. ​ If your credit card balance is $650 and the interest rate is 12% APR, then the credit card interest charge is ​

Find the 14th term of the sequence. ​ ​ __________

Find the 15th term of the sequence. ​ ​

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. ​ $600 balance, 14%, $100 payment, adjusted balance method ​

Classify the sequence and supply the next term. ​ 3, 6, 9, 12, ... ​ The next term is __________. ​ The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Use estimation to select the best response. Do not calculate. ​ If you purchase a $2,400 item and pay for it with monthly installments for 2 years, the monthly payment is __________. ​

Find the first three terms of the sequences whose nth terms are given. ​ ​

Classify the sequence and supply the next term. ​ 1, 2, 4, 8, ... ​ The next term is __________. ​ The sequence is __________ (arithmetic, geometric, Fibonacci-type, none of these).

Find the first five terms of the sequence where ​ , , , ​ __________ ​ __________ ​ __________ ​ __________ ​ __________

Convert the credit card rate to the APR. ​ Ohio, 0.02192% daily rate. ​

Use estimation to select the best response. Do not calculate. A reasonable APR to pay for a 3-year automobile loan is

Make a 6% offer on a Chevrolet Corsica that has a sticker price of $14,664 and a dealer cost of $13,705.

Find the first three terms of the sequence whose th term is given. __

Find the first five terms of the sequence. , , ,

Classify the sequence and supply the next term. 27, 64, 125, 216, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Classify the sequence and supply the next term. 4, 6, 10, 16, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Find the first three terms of the sequence whose nth term is given. __

Find the first three terms of the sequence whose th term is given. __

Find the 15th term of the sequence. __________

Find the 16th term of the sequence.

Use estimation to select the best response. Do not calculate. If your credit card balance is $650 and the interest rate is 12% APR, then the credit card interest charge is

Find the 14th term of the sequence. __________

Find the 15th term of the sequence.

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. $600 balance, 14%, $100 payment, adjusted balance method

Classify the sequence and supply the next term. 3, 6, 9, 12, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Use estimation to select the best response. Do not calculate. If you purchase a $2,400 item and pay for it with monthly installments for 2 years, the monthly payment is __________.

Find the first three terms of the sequences whose nth terms are given.

Classify the sequence and supply the next term. 1, 2, 4, 8, ... The next term is . The sequence is (arithmetic, geometric, Fibonacci-type, none of these).

Find the first five terms of the sequence where , , , __

Convert the credit card rate to the APR. Ohio, 0.02192% daily rate.