Math Concepts and Problems from MTH 1221 Homework

This set of flashcards covers key concepts and problems related to interest calculations, revenue problems, and production time requirements from the MTH 1221 homework.

What is the formula to calculate the balance of an investment compounded quarterly?

A = P(1 + r/n)^(nt)

If $3,000 is invested at an annual interest rate of 7% compounded quarterly, what is the balance after 10 years?

$6,004.79

What is the effective annual interest rate for an investment at 7% compounded quarterly?

7.19%

What is the formula for continuous compounding?

A = Pe^(rt)

If you want $9,000 in 5 years with continuous compounding at 5%, how much should be invested now?

$7,009.21

How long does it take for an investment to double at a continuous compounding rate of 5%?

Approximately 13.86 years.

What are the equations used to solve for the number of children and adults riding a bus given total riders and total revenue?

C + A = 1000 and 0.25C + 1.25A = 1050

If there are 1000 total riders and the revenues from fares total $1050, how many children and adults are there?

200 children and 800 adults.

What is the relationship between tables, chairs, and desks in the context of a furniture workshop's production time?

System of linear equations based on time required for Cutting, Assembly, and Finishing.

In terms of time, how much Cutting time is needed for producing tables and desks?

2T + 1D = 110.

In terms of production, how much Assembly time is required for tables, chairs, and desks?

3T + 2C + 2D = 130.

What is the total Finishing time equation for tables, chairs, and desks production?

1T + 3C + 1D = 90.