## Fundamentals of Numeric Computing

## CPAN 112

### Final Term TEST

*Please read the following instruction very carefully before answering any questions:*

- Please read all the questions very carefully.
- Please provide your answers in the boxes below each question, and do not change the text colour.
- Your answer MUST show the solution procedure. There is no credit if you only state the final answer.
- Please highlight your final answer to each question.
- Please keep the naming conventions requested in this lab and each question.
- Once you complete your lab, rename your word document file to the (
**CPAN112_FinalExam_FirstName_LastName**). Replace FirstName and LastName with your first name and last name, respectively.

*It will be a 10% mark deduction if you do not follow the guidelines mentioned above.*

*Please show you work using formula’s applied, concept learned and explanation, do not just write the final answer. Feel free to use Python as tool and attach the screenshots.*

**A Dining Set is listed for $550.00 less 125/6% (20 5/6%), 10%, 8%****What is the net price?****How much is the amount of discount allowed?****What is the equivalent single rate of discount that was allowed?**

a.) $360.53 || b.) $189.47 || c.) 34.59% |

**The ABC Company received a $959 invoice with terms 3/15, n/30. The firm could not pay the entire bill within ten days but sent a check for $400 within the first 15 days. What amount should be credited to the ABC Company.**

$412 |

**What rate of interest did you receive over a period of 80 days if your principal was $7000 and it has a maturity value of $7700?**Interest = Principle x Rate x Time

7700-7000 = 7000 x R x 80 / 365

700 = 7000 x R x 0.22

700/7000*0.22 = R

0.4545 = R

Rate of Interest = 45.45% |

**A loan payment of $2100 was due 60 days ago and another payment of $2200 is due 45 days from now. What single payment 90 days from now will pay off the two obligation if interest is to be 11% and the agreed focal date is 90 days from now?**

Simgle Payment = $4426.07 |

**A debt of $6020 is to be settled by two equal payments due today, and three years from now respectively. Determine the size of the equal payments if money is worth 9.73% and the agreed focal day is today.**

**To what future value will a principal of $8000.00 amount in three years at 7.5% p.a.compounded:**

**annually****semi-annually****quarterly****monthly**

a.) $9938.375 b.) $9977.43 c.) $9997.73 d.) $10011.57 |

**Fred started RSP plan for his kid on January 1, 2020, with a deposit of $1000. He added $2000 on January 1, 2021, and $3000 on January 1, 2022. What is the accumulated value of his RSP account on July 1, 2022, if interest is 10.55% compounded quarterly?**

$6795.82 approx |