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| Teaching Since: | Apr 2017 |
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MBA IT, Mater in Science and Technology
Devry
Jul-1996 - Jul-2000
Professor
Devry University
Mar-2010 - Oct-2016
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Quiz 1
1.Mary owes June $800, and wants to pay her off. She decides to borrow the
amount from her bank at a discount rate of 12%. If she borrows the money for 10
months, find the amount of the loan she should ask for so that her proceeds are
$800?
2. Lydia's aunt Rose left her $4,000. Lydia spent $1,000 on her wardrobe and
deposited the rest in an account that pays 8.9% compounded daily. How much
money will she have in 5 years?
3.At the end of each month Rita deposits $600 in an account that pays 4%
compounded monthly. What will the final amount be in 3 years?
4.The Gomez family bought a house for $250,000. They paid 15
% down and amortized the rest at 11.2% over a 30-year period. Find their monthly
payment.
5.Mr. Smith is planning to retire in 30 years and would like to have $3
50,000 then. What monthly payment made at the end of each month to an account
that pays 7.5% compounded monthly will achieve his objective?
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