A coefficient of skewness of +2.48 indicates:
Answer(s): A
In a positively skewed distribution, the mean is greater than the median or mode. The coefficient of skewness (Sk) generally lies between -3 and +3, therefore an Sk of +2.48 indicates significant positive skewness.
If you deposit $250 a month, beginning next month, for 20 years into an account paying 7% per year, compounded monthly, how much is in your account after that last deposit?
Answer(s): E
On the BAII Plus, press 240 N, 7 divide 12 = I/Y, 0 PV, 250 PMT, CPT FV. On the HP12C, press 240 n, 7 ENTER 12 divide i, 0 PV, 250 PMT, FV. On the BAII Plus, make sure the value of P/Y is set to 1. Note that the answer is displayed as a negative number.
If you deposit $100 a month, beginning next month, for 8 years into an account paying 6% per year, compounded monthly, how much is in your account after that last deposit?
Answer(s): B
On the BAII Plus, press 96 N, 6 divide 12 = I/Y, 0 PV, 100 PMT, CPT FV. On the HP12C, press 96 n, 6 ENTER 12 divide i, 0 PV, 100 PMT, FV. On the BAII Plus, make sure the value of P/Y is set to 1. Note that the answer is displayed as a negative number.
If you need $25,000 in 10 years, how much must you deposit today, if your money will earn 6% per year, compounded annually?
On the BAII Plus, press 10 N, 6 I/Y, 0 PMT, 25000 FV, CPT PV. On the HP12C, press 10 n, 6 i, 0 PMT, 25000 FV, PV. Note that the answer will be shown as a negative number.
How much would you have in a savings account 12 months from now if you start with a balance of $3,000 today, make a deposit of $1,000 in 6 months and make another deposit 6 months after that of $500? Assume that interest accrues at 6% per year, compounded monthly.
Answer(s): C
Find the answer to this question by solving a couple of compound interest problems. Move the $3,000 to month 12, then move the $1,000 forward 6 months to month 12, then add $500. On the BAII Plus, press 12 N, 6 divide 12 = I/Y, 3000 PV, 0 PMT, CPT PV. Then press STO 1. Then press 6 N, 1000 PV, CPT FV. Then press + RCL 1 =. Make this number positive by pressing +/- and then press + 500 = to see the answer. On the HP12C, press 12 N, 6 ENTER 12 divide i, 3000 PV, 0 PMT, FV. Then press STO 1. Then press 6 N, 1000 PV, FV. Then press RCL 1 +. Make this number positive by pressing CHS and then press 500 + to see the answer. Make sure that the BAII Plus has the value of P/Y set to 1.
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