Quiz 3 - Summer 2015 (Page 3 of 3) in pdf

Quiz 3 - Summer 2015 Page 3

Questions 16 – 17. Use the information below to answer questions 16 – 17

Density of water at 22°C = 0.99808 g/mL

Density of water at 35.8°C = 0.99513 g/mL

��

Heat capacity of water = 4.186

Heat capacity of stainless steel = 0.500

�� ℃

16-17) You are asked to heat 56.8 grams of water from 22.2°C to 35.8°C. Assuming that your system is 100%

efficient, the amount of energy required

is _____________

(reported to three significant figures)

18) If you put $100 in a bank account today that promises 3.2% interest compounded monthly. You leave the

$100 in the account for 5 years. After 5 years, the $100 has grown to a future value of

____________________ .

(report to the nearest penny)

19) If you put $100 in a bank account on July 1

every year for 5 years. The account promises 3.2% interest

compounded annually. The future value of this account after 5 years is ________________

(report to

the nearest penny)

20) If you need $500 in five years, you should put ________________ in the account today. The account

promises 3.2% interest compounded monthly.

(report to the nearest penny)

21) If a bank announces that their nominal annual interest rate is 18.92%, compounded monthly, the effective

interest rate is __greater than 18.92% / less than 18.92% / equal to 18.92%

Question 22: Look at the cash flow diagram below and answer the question that follows.

22) True /False This cash flow diagram shows that the $20,000 is being paid today to start the project.

Quiz 3 - Summer 2015 Page 3