**Problems 1-4**

There are many problems throughout the text labeled IN YOUR OWN WORDS. Just relax; do not be afraid to give your opinion. For the most part, these questions do not have “right” or “wrong” answers. You should spend about five minutes in answering each of these questions.

**Problems 5-14**

These problems are designed to help you estimate financial problems. Don’t be afraid to guess, check, and then revise, if necessary.

**Problems 15-18**

Use the formula *I = Prt*. For each problem identify *P*, the present

value; *r*, the annual rate; and *t*, the time (in years). See Example 1.

**Problems 19-24**

Use the formula *A = P*(1 + *rt*) for **Problem 19 **(see Example 5); *A = P*(1 + *r/n*)^{nt} for **Problems 20-23** (see Example 8); and *I = Pe ^{rt}* for

**Problem 24**(see Example 9).

**Problems 25-28**

For **Problem 25**, solve *A= P*(1 + *rt*) for *P*, and then fill in the given values.

For **Problems 26-27**, use the present value formula; see Example 12.

For **Problem 28**, solve *A = Pe ^{rt}* for

*P*, and then fill in the given values.

**Problems 29-30**

For parts **a-e**, see Example 8;

For part **f**, calculate *t* as the number of minutes in a year.

Finally, for part **h**, see Example 5.

**Problems 31-32**

Use the simple interest formula with t a fraction; see Example 4.

**Problems 33-36**

Use the future value formula for simple interest; see Example 7.

**Problems 37-38**

Use the future value formula for continuous compounding; see Example 11.

**Problems 39-40**

Use the future value formula for continuous compounding.

**Problems 41-44**

Use the formula *I* = *A – P* to find the amount of interest.

**Problems 44-45**

Use the future value formula for continuous compounding for inflation; see Example 11.

**Problem 47**

Use the present value formula; see Example 11.

**Problem 48**

Use *I = Prt* and solve for *P* before solving.

**Problem 49**

See Example 11.

**Problem 50**

See Example 13.

**Problem 51**

Use *I = Prt* and solve for *P* before solving.

### Note: Homework Hints are given only for the Level 1 and Level 2 problems.

However, as you go through the book be sure you look at all the examples in the text. If you need hints for the Level 3 problems, check some sources for help on the internet (see the LINKS for that particular section. As a last resort, you can call the author at (707) 829-0606.

On the other hand, the problems designated “Problem Solving” generally require techniques that do not have textbook examples.

There are many sources for homework help on the internet.

**Algebra.help**

Here is a site where technology meets mathematics. You can search a particular topic or choose lessons, calculators, worksheets for extra practice or other resources.

**http://www.algebrahelp.com/**

**Quick Math**

This site provides online graphing calculators. This is especially useful if you do not have your own calculator.

**http://www.quickmath.com/**

**The Math Forum** @ Drexel

This site provides an internet mathematics library that can help if you need extra help. For additional homework help at this site, click one of the links in the right-hand column.

**http://mathforum.org/**