Finance Applications Using Geometric Sequences and Recurrence Relations (VCE SSCE General Mathematics): Quizzes

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Finance Applications Using Geometric Sequences and Recurrence Relations
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In Vn+1=RVnV_{n+1} = RV_n, what range of RR indicates geometric decay?

0<R<10 < R < 1

For compound interest with rate r%r\% per period, what is RR?

R=1+r100R = 1 + \frac{r}{100}

Investment: 1000 USD at 8% yearly. Using V0=1000V_0 = 1000, Vn+1=1.08VnV_{n+1} = 1.08V_n, find V2V_2.

1166.40 USD

For reducing-balance depreciation at r%r\% yearly, what is RR?

R=1−r100R = 1 - \frac{r}{100}

Car: 18500 USD, 10% depreciation yearly. Using V0=18500V_0 = 18500, Vn+1=0.9VnV_{n+1} = 0.9V_n, find V1V_1.

16650 USD

For 4.2% annual interest compounding quarterly, what is the quarterly rate?

1.05%

For 4.2% annual interest compounding monthly, what is the monthly rate?

0.35%

What type of pattern does reducing-balance depreciation create?

Geometric decay

Why use R=1+r100R = 1 + \frac{r}{100} for compound interest with 5% rate?

New value is 105% of old value

With 6000 USD at 4.2% yearly, what is RR for yearly compounding?

1.042

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