## Series Application / Induction Test

Unit Test #95

Select your answers to the following 5 questions from the pop-up menus in the right hand column. Clicking the "Begin Test Again" button will clear all the answers.

 Q1: The following are the first two terms of a geometric sequence 2, 10 The next term is: A. 18 B. 28 C. 12 D. 50 Answer 1: A                      B                      C                      D Q2: 8 and 12 are the first term and the sum of the first two terms in a geometric series. The sum of the first three terms is: A. 16 B. 14 C. 18 D. 20 Answer 2: A                      B                      C                      D Q3: An investement of \$1000 is in an account with an annual interest rate of 8% which is applied every 3 month (i.e. quarterly) The formula for calculating the worth of the investment after 2 years is A = 1000(1 + k)n The value of n is A. 3 B. 2 C. 8 D. 24 Answer 3: A                      B                      C                      D Q4: In question 3 the value of k is: A. 0.02 B. 0.08 C. 2/3 D. 1/150 Answer 4: A                      B                      C                      D Q5: In calculating a repayment schedule for a 25 year mortgage the calculation 1.0075300 appeared. From this what annual interest rate was likely to apply to the mortgage? A. 7.5% B. 0.75% C. 9% D. 2.25% Answer 5: A                      B                      C                      D