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1. Is it more profitable to receive a lump sum of $9000 at the end of 3 years or to receive
$750 at the end of each quarter-year for 3years? Assume that money can earn 2.2%
interest compounded quarterly.
2. Find the amount of a 15-year mortgage at 4.5% interest compounded monthly where the
monthly payment is $724.56.
3. Solve the following system of equations using the matrix coefficient
𝑥 + 4𝑦 + 3𝑧 = 15
𝑥 + 3𝑦 + 4𝑧 = 17
2𝑥 + 3𝑦 + 3𝑧 = 16
4. In a certain manufacturing process, lengths (cm) of bolts is normally distributed with a
mean of 5.4 and a standard deviation of .6. Find the probability that a bolt selected at
random has a length greater than 5.632 cm.
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