The following question refers to a country with five states. There are 240 seats in the legislature, and the populations of the states are given in the table below.
Using a divisor of D = 40,300, the modified quotas (to 3 decimal places) are
A. State A: 10.648; State B: 18.803; State C: 109.451; State D: 96.584; State E: 3.915.
B. State A: 10.799; State B: 19.069; State C: 111.002; State D: 97.951; State E: 3.971.
C. State A: 10.596; State B: 18.710; State C: 108.908; State D: 96.104; State E: 3.896.
D. State A: 10.675; State B: 18.850; State C: 109.725; State D: 96.825; State E: 3.925.
E. none of these
Answer: C
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Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period.$60,000 to be accumulated in 10 years; annual payments of $3940. Round to the nearest hundredth.
A. 9.11% B. 9.64% C. 9.83% D. 9.05%
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Solve the problem.Mardi received an inheritance of $70,000. She invested part at 8% and the rest at 7%. Her total annual income from the investments was $5500. Find the amount she invested at 8%.
A. $60,000 B. $30,000 C. $59,000 D. $64,500