Post by: studyhound on June 21, 2009, 11:59:13 am
In January, the air fare to Darwin was a certain price. As a result of demand and fuel costs, the prices of the air fare in the following months of February to May fluctuated as shown below:
February - January’s price of air fare is increased by 10%
March - February’s price is reduced by 10%
April - March’s price is increased by 5%
May - April’s price is reduced by 5%
When compared with January’s price, the price of the air fare in May was
A. 1.2475% higher than January’s price
B. 1.2475% lower than January’s price
C. 7.5% higher than January’s price
D. 7.5% lower than January’s price
E. the same as that in January
cheers
Post by: mtwtfss on June 21, 2009, 12:18:42 pm
Jan = $100
Feb = +10% = $110
March = -10% = 99
April = +5% = 103.95
May= -5% = 98.755
Post by: studyhound on June 21, 2009, 03:51:39 pm
Jane has calculated that she needs $2 200 per month for living expenses. The amount, to the nearest dollar, that she will need to invest at 6.75% per annum interest to provide for her monthly living expenses for an indefinite period is
A. $32 593
B. $289 104
C. $137 398
D. $391 111
E. $365 652
Post by: TrueTears on June 21, 2009, 03:56:43 pm
She needs to be able to pay off that much amount of money per year for her living expenses.
so for an indefinite period (assuming yearly), let x be the amount she has to invest per year:
Hence D