MATH 157 Lecture Notes - Solution Process

• School: Simon Fraser University
• Department: Mathematics
• Course: MATH 157
• Professor: Stephen Choi

Document Summary

Instructor questions accompanying paper assignment # 11 solution. Directions: print double sided, write your solutions to both questions directly on this page, place immediately after cover page and staple together! Marks: an answer without a detailed solution process will be awarded zero marks! Q1: howard wants to upgrade his computer equipment and will need $ 4000. $ 100 every month into an account that pays 2. 5% compounded monthly. 4000 = 100 (cid:20)(1 + i)n 1 (cid:21) (cid:32)(cid:0)1 + 0. 025 (cid:1)n 1 (cid:19)n 1 (cid:18) Q2: john ecstatically tells his parents over the phone that he won the lottery and is receiving $ 1000 every week for 20 years. In his excitement, he hangs up before his parents nd out how much the present value of the lottery win is. 52 ) 20 52 (cid:18)1 (1 + i) n (cid:32)1 (1 + 0. 05 i.