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Q1:
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The following are the first two terms of a geometric sequence
2, 10
The next term is:
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A. 18
B. 28
C. 12
D. 50
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Answer 1:
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Q2:
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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
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Answer 2:
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Q3:
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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
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A. 3
B. 2
C. 8
D. 24
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Answer 3:
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Q4:
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In question 3 the value of k is: |
A. 0.02
B. 0.08
C. 2/3
D. 1/150
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Answer 4:
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Q5:
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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?
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A. 7.5%
B. 0.75%
C. 9%
D. 2.25%
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Answer 5:
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