MTH302 Assignment 1 Solution Spring 2021

MTH302 ASSIGNMENT 1 SOLUTION SPRING 2021

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Question 1:

If a person provide payments of Rs.15000 at the end of each 3rd month for 7 years and interest is 13.5% compounded quarterly, then calculate how much money is deposited.

Solution:

First, convert R as a percent to r as a decimal

r = R/100

r = 13.5/100

r = 0.135 rate per year, Quarterly = 0.135/4 = 0.03375

Then solve the equation for A

A = P(1 + r)nt

A = 15,000(1 + 0.03375)(28)

A = Rs. 37,994.95

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of Rs. 15,000.00 at a rate of 13.5% per year compounded 4 times per year over 7 years is Rs.37,994.95.

Question 2:

Suppose two mobile phone companies sell their internet packages as 256KB connection for Rs.1500 per month, 512KB connection for Rs. 1900 per month, 1MB connection for Rs. 2800 per month, and 4MB connection for Rs. 3800 per month.

The table below summarizes the number of connections both companies have sold per month:

What is total annual revenue of Company A?

What is total quarterly revenue of Company B?

(Use Matrices to illustrate the above information)

Solution:

What is total annual revenue of Company A?

What is total quarterly revenue of Company B?

OR

What is total annual revenue of Company A?

What is total quarterly revenue of Company B?

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