CONTEMPORARY MATHEMATICS (MATH-105N-0) COMPREHENSIVE FINAL EXAM

Each question includes the correct answer and a rationale in italics.

Section 1: Financial Mathematics

1. You deposit $1,500 in an account earning 4.5% simple interest. How much interest

will you earn after 3 years?

 A) $67.50

 B) $202.50

 C) $675.00

 D) $2,025.00

Answer: B

*Si...