### Still have math questions?

Q: The sales tax rate for the state of Washington was $$6.9 \%$$ .

What is the sales tax on a  $$\ 2,800$$ car in Washington? $$\$$ $$\square$$

What is the final cost of a $$\ 2,800$$ car in Washington, including tax? $$\$$ $$\square$$

Q: An account is opened with an initial deposit of $$\ 700$$ and earns $$3.3 \%$$ interest compounded semi-annually. What will the account be worth in $$3$$ years?

Do NOT round until you have calculated the final answer.

Q: Tim has an investment account that compounds interest continuously at a rate of $$1.6 \%$$ . After $$5$$ years, he has $$\ 2400$$ in the account.

How much money did he initially place in the account?

Do NOT round until you have calculated the final answer.

Q: Klaus invested $$\ 8,000$$ in a savings account. If the interest rate is $$3.45 \% ,$$ how much will be in the account in $$15$$ years by compounding continuously?

Do NOT round until you have calculated the final answer.

Q: Kenneth deposits $$\ 8200$$ in a bank for one year. The interest rate is $$2 \%$$ per year. What is the total amount of money he will have in the bank a the end of one year?

Q: A credit card company offers an annual 2%.cash-back rebate on all gasoline purchases. If a family spent $$\7400$$ on gasoline purchases over the course of a year, what was the family's rebate at the end of the year?

Q: Find the accumulated present value of an investment over a $$6$$ year period if there is a continuous money flow of $$\11,000$$ per year and the interest rate is $$1\%$$ compounded continuously.

Q: The state lottery board is examining the machine that randomly picks the lottery numbers. On each trial, the machine outputs a ball with one of the digits $$0$$ through $$9$$ on it. (The ball is then replaced in the machine.) The lottery board tested the machine for $$25$$ trials and got the following results.

Outcome             0    1   2    3   4  5  6  7  8  9

Number of Trials         1     2   2    3   1  3  2  3  3  5

(a) From these results, compute the experimental probability of getting an even number.

(b) Assuming that the machine is fair, compute the theoretical probability of getting an even number. (c) Assuming that the machine is fair, choose the statement below that is true.

-With a small number of trials, it is surprising when the experimental probability is much less than the theoretical probability.

-With a small number of trials, it is not surprising when the experimental probability is much less than the theoretical probability.

-With a small number of trials, the experimental probability will always be much less than the theoretical probability.

Q: Find the principal needed now to get the given amount; that is, find the present value. To get $$\ 2000$$ after $$3 \frac { 3 } { 4 }$$ years at $$12 \%$$ compounded daily

The present value of $$\ 2000$$ is $$\ \square$$ . (Round to the nearest cent as needed.)

Q: A truck rental company rents a moving truck for one day by charging $$\ 27$$ plus $$\ 0.11$$ per mile. Write a linear equation that $$r$$ - truck to the number $$x$$ of miles driven. What is the cost of renting the truck if the truck is driven $$174$$ miles? $$355$$ miles?

Type the linear equation that relates the cost $$C$$ , in dollars, of renting the truck to the number of $$x$$ miles driven.

$$C = \square$$

(Use integers or decimals for any numbers in the expression. Do not include the $$\$$ symbol in your answer.) What is the cost of renting the truck if the truck is driven $$174$$ miles?

$$C = \ \square$$ What is the cost of renting the truck if the truck is driven $$355$$ miles?

$$C = \$$

Q: Reggie opened a savings account $$1$$ year ago. The account earns $$1 \%$$ interest, compoundec continuously. If the current balance is $$\ 100.00$$ , how much did he deposit initially? Round vour answer to the nearest cent.

Q: Upgrading a Class B office space to a Class $$A$$ space will cost $$\ 8,122$$ . How much will the monthly rent need to be increased to recover the cost of the upgrade in $$6$$ years?

Q: Jen has a home she plans to rent out. She hires a management company that charges $$8.3 \%$$ of the rental price for their fee. If the home rents for

$$\ 1340 /$$ month, how much will Jen earn each month from the rent?

State your answer in terms of dollars rounded to the nearest cent (hundredth). Do not include a $$\$$ sign with your response.

Q: The amount of money in a savings account increase by $$0.15 \%$$ every month.

Part A Write a function for the amount of money in the account, $$B ( t )$$ , after

$$t$$ months with an initial deposit of $$\ 50$$ .

Part B By what factor does the amount in the account increase every month? Every year? Every ten years? Round to the nearest thousandth.

Q: I was thrifty and put some savings in a mutual fund this year. Assuming that the fund returns $$5 \%$$ annually, and that I make no withdrawal, how much money would I have in the mutual fund after $$7$$ years?

Q: I was thrifty but didn't manage to invest in the stock market. My money was in a savings account that earned only $$0.35 \%$$ a year compounded continuously. How much money would I have after $$7$$ years if I made no withdrawals?

Q: Tina purchased a new bike for $$\ 850$$ on a payment plan. Four months after purchasing the bike, her balance was $$\ 630$$ . Six months after purchasing the bike, her balance was $$\ 520$$ . Find an equation that models the balance $$y$$ after $$t$$ months. How many months will it take her to pay off the loan?

Q: Two groups of students on a field trip are getting food in a fast food restaurant. The first group bought $$7$$ burgers and $$5$$ soft drinks for $$\ 28.50$$ . The second group bought $$6$$ burgers and $$4$$ soft drinks for $$\ 23.98$$ . How much does one burger cost?

$$\ 2.45$$ per burger

$$\ 2.95$$ per burger

$$\ 2.07$$ per burger

$$\ 1.57$$ per burger

Q: The value of a new truck (y) drops exponentially each year. The relationship can be modeled by the function $$y$$

$$= 42000 ( .87 ) ^ { x }$$ What would the predicted value of the truck be after $$6$$ years? A. $$\ 31,500$$

B. $$\ 18,212$$

C. $$\ 36,546$$

D. $$\ 219,240$$

Q: Jordy was living in a third story apartment in his complex. Up there he was paying an annual renters insurance premium of $$\ 325.00$$ . When an opportunity to move to the ground floor came up, he jumped on it, but found out that, since burglaries are more common on ground floor apartments, his renter's insurance premium would go up by $$18 \%$$ . What is his new annual renter's insurance premium?

a. $$\ 58.50$$

b. $$\ 31.96$$

c. $$\ 268.96$$

d. $$\ 383.50$$

Q: The total annual sales for Windsor Storage Center were $$\ 910,235$$ and the total accounts receivable were $$\ 34,178 .$$ What was the average collection period to the nearest whole day?

Q: Newport Manufacturing believes they can sell 1,000 of a certain product for $$\ 90$$ each. If the fixed cost of producing the product is $$\ 25,000$$ and the variable cost is $$\ 45$$ per item, how much would the profit be?

$$\ 18,640$$

$$\ 19,980$$

None of these choices are correct.

$$\ 17,520$$

$$\ 20,495$$

Q: A cell phone service provider offers a plan that charges $$\ 18.40$$ per month and $$\ 0.12$$ per minute of phone call usage. If a person wants to spend no more than $$\ 40$$ every month, how many minutes of phone calls can they make monthly? no more than $$160 min$$

no more than $$180 min$$

no more than $$315 min$$

no more than $$259 min$$

Q: A combination washer/dryer costs $$\ 1,179$$ . New parts for this washer/dryer cost $$\ 211$$ , labor to repair it costs $$\ 553$$ , and shipping it to and from a repair center costs $$\ 152$$ . A full warranty, which covers all aspects of repairing the washer/dryer, costs $$30 \%$$ of the price of the washer/dryer. A limited warranty, which only covers labor costs, only costs $$14 \%$$ of the price of the washer/dryer. Assuming that the washer/dryer needs repairs which include parts, labor, and shipping, which warranty is the better deal, and by how much, rounded to the nearest dollar?

a. The limited warranty will end up costing the consumer $$\ 189$$ less.

b. The limited warranty will end up costing the consumer $$\ 363$$ less.

c. The full warranty will end up costing the consumer $$\ 553$$ less.

d. The full warranty will end up costing the consumer $$\ 174$$ less.

Q: A loaf of bread has $$24$$ slices. So, $$1$$ slice of bread can be represented as $$\frac { 1 } { 24 }$$ . Use this information to help you solve the following problem:

Joseph asks his mother how much bread their family eats. His mother says that each of the $$4$$ members of their family (Joseph and his mother included) eats $$2$$ slices of bread per day, everyday.

If there are $$30$$ days in a month, Joseph's family needs to buy _________loaves of bread to last the whole month.

Q: ]Koia received a cheque in the mail when an investment matured (the term ended). The amount of money in the cheque was $$\ 773.90$$ (principle plus interest). She recalled that she invested $$\ 700.00$$ five years ago in a simple interest investment, but she cannot remember the interest rate. How much did Koia earn in interest over $$5$$ years?

$$73.90$$

$773.90 $$\ 23.90$$ $$\ 700.00$$ Q: Investment A and B both have the same amount of money invested ( $$\ 2500.00 )$$ , the same annual interest rate ( $$6.5 \%$$ per annum), and the same amount of time invested (20) years). Investment A is compounded yearly, whereas Investment B uses simple interest. Which investment will return a higher amount of interest? A. Investment B B. Investment A C. No answer text provided. D. They will have the same amount of interest Q: Sonya's grandma invested \$500.00 into a RESP for Sonya the day she was born. The interest rate was $$1.4 \%$$ per annum, compounded daily. When Sonya turned $$19$$ , she took out the money and interest to go to post secondary school. How much money does she have? Record your answer to two decimal places. Include units.

Q: Monty puts $$\ 1000.00$$ of graduation money into a savings account earning $$4.25 \%$$ per annum interest, compounded weekly. He leaves the money for $$5$$ years. How much money will be in his account at the end of $$5$$ years? Record your answer to two decimal places. Include units.

Q: Using the Rule of $$72$$ , estimate the number of years it will take for an investment of

$$\ 5750$$ to double if the interest rate is $$2.75 \%$$ per annum, compounded annually.

$$26.8$$ years

$$25.3$$ years

$$27.5$$ years

$$26.2$$ years

Q: Suzy plans to go on a trip when she finishes her post secondary program in $$4$$ years. She found an investment offering $$7 \%$$ per annum interest compounded monthly. The cost of the trip is $$\ 5500.00$$ , how much money does she need to invest now to pay for the trip in

$$4$$ years?

$$\ 4160.19$$

$$\ 213.77$$

$$\ 4195.92$$

$$\ 5373.52$$

Q: Lois is approved for a personal loan from a used car company. The loan is for $$\ 3000.00$$ , with an interest rate of $$6.75 \% / a$$ , compounded monthly. Her monthly payments are

$$\ 59.05$$ for $$60$$ months. How much interest does she pay on her loan?

$$\ 1200.34$$

$$\ 4200.34$$

$$\ 3543.00$$

$$\ 543.00$$

Q: You invest $$\ 6000.00$$ for $$3$$ years in a term deposit that earns $$5 \%$$ per annum. Which of the following compounding periods will earn you the most amount of money?

weekly

annually

monthly

quarterly

Q: $$100$$ months seems like a huge amount of time for Jude, so he takes another look at his budget and find an extra $$\ 50$$ a month to reduce his $$\ 5000.00$$ credit card debt. Paying

$$\ 149.47$$ per month, it will take him $$4$$ years to pay off the debt. How much interest has he paid over the $$4$$ years?

$$\ 5000.00$$

$$\ 149.47$$

$$\ 2174.56$$

$$\ 7174.56$$

Q: Dan invests $$\ 3500.00$$ in a savings bond that pays $$4.5 \%$$ per annum, compounded quarterly for $$8$$ years. Determine the interest that Dan earns. Record your answer to two decimal places and include units.

Q: Carter gets a payday loan of $$\ 950.00$$ to make unexpected repairs on his vehicle. He is charged $$\ 175.50$$ in fees. Assume the fees are the interest owed on the loan. If Carter had the loan for $$3$$ weeks, what would the interest rate be if he calculated it using simple interest? Round to the nearest whole number and include units.

Q: Suppose you have some money to invest and you would like to see it double in $$15$$ years. Use the Rule of $$72$$ to determine the interest rate you must have in order for your money to double. Round to one decimal place and include units. ?

Q: a. Calculate the simple interest paid on a loan of $$\ 2850.00$$ with an interest rate of $$2.5 \%$$ over $$3$$ years. Record your answer to two decimal places and include units.

b. Calculate the total amount paid on the loan at the end of $$3$$ years. Record your answer to two decimal places and include units.

Q: Charmaine has $$\ 3000.00$$ that she would like to invest. Use the Rule of $$72$$ to determine the time it will take for the investment to double, if the highest interest rate the bank offers is $$3.5 \%$$ per annum, compounded annually. Round to one decimal place and include units.

Q: $$\ 600$$ is invested at $$4 \%$$ simple interest for $$2$$ years.

a) How much interest is earned?

b) If the interest rate is doubled to $$8 \%$$ is the interest earned doubled?

c) If the time was doubled to $$4$$ years, would the interest earned be doubled?

Q: Each simple-interest investment matures in $$2$$ years. Calculate the interest and the final amount.

a) $$\ 675$$ invested at $$7.25 \%$$

b) $$\ 4261$$ invested at $$13.75 \%$$

Q: How much would $$\ 300$$ invested at $$4 \%$$ interest compounded monthly be worth after $$8$$ years? Round your answer to the nearest cent.

$$A ( t ) = P ( 1 + \frac { r } { n } ) ^ { n t }$$

Q: Becca charges $$\ 225$$ to her Visa card with an APR of $$18 \%$$ . How much total will she have to pay (including the interest) at the end of one month? (

A) $$\ 3.38$$

(B) $$\ 40.50$$

(C) $$\ 228.38$$

(D) $$\ 265.50$$

Q: Find the amount in a continuously compounded account for the following condition. Use the formula $$A ( t ) = P \cdot e ^ { ( r \cdot t ) }$$

Principal: $$\ 3,000$$ . Rate: $$5.4 \%$$

Time: $$2$$ years

Q: Calculate the amount you would end up with if you invested $$\ 5000$$ at $$14.6 \% /$$ a compounded annually for $$10$$ years.

Q: Josephine is purchasing a used car. Her bank has offered a loan of $$\ 5000$$ at $$5 \%$$ a compounded monthly. The used-car dealer has offered a loan of $$5.25 \%$$ a compounded semi-annually.

a) What is the amount owing on each loan after $$1$$ year?

b) Which loan should Josephine take and why?

Q: A donor gives $$\ 50000$$ to the high school he graduated from. The amount must be invested for $$3$$ years, and the accumulated interest will be used to buy books for the school library. If the money ear As $$7.75 \% / a$$  compounded monthly, how much will be available for the books?

Q: Mustafa wants his investment to be worth $$\ 10000$$ in $$5$$ years. The bank will give him $$6 \% /$$ a interest compounded annually. How much does Mustafa have to invest now?

Q: How much would they have made in interest if the interest rate was $$6 \%$$ instead of $$5 \% ?$$

(Hint: What is $$6 \%$$ of $$\ 10,000 ? )$$

A. $$\ 60$$

B. $$\ 6,000$$

C. $$\ 600$$

Q: Design a probability distribution for a spinner that benefits the player by

$$\ 1$$ more than their bet. The bet is placed at $$\ 3$$ . Your spinner must have $$4$$ or more outcomes. (You do not have to physically create the wheel)

Q: For $$7$$ years, Meaghan deposits $$\ 2000$$ at the end of each year into an account that earns $$3.2 \%$$

interest per year compounded annually.

a) Determine the amount of the annuity after $$7$$ years.

b) Determine the total interest earned.

Q: Max is selling his business. The buyer offers him the following $$2$$ options:

Option $$1$$ - Max can receive a payment of $$\ 3500$$ each month for $$5$$ years

Option $$2$$ - Max can receive a single cash payment of $$\ 200000$$ immediately.

With an interest rate of $$4 \%$$ per year compounded monthly, use the appropriate annuity formula for Option $$1$$ and compare your result to the single cash payment of Option $$2$$ . Which option should Max select?

Q: For $$7$$ years, Meaghan deposits $$\ 2000$$ at the end of each year into an account that earns $$3.2 \%$$

interest per year compounded annually.

a)Determine the amount of the annuity after $$7$$ years.

b) Determine the total interest earned.

Q: Karl invests $$\ 100$$ in a savings account, which earns interest yearly. Select the two changes that would earn Karl more money from this savings account.

$$\square$$ The bank decreases the interest rate.

$$\square$$ Karl increases his initial investment.

$$\square$$ The bank adds a fee to keep the account active.

$$\square$$ Karl deposits more money into the account every year.

Q: How much money will the accounts have after $$1$$ month? After $$1$$ year? After $$10$$ years?

Interest (r)        $$1$$ month             $$1$$ year                    $$10$$ years

Savings                              $$.0050$$           $$3001$$                   $$3015$$                    $$3153$$

Money Market                    $$.0055$$           $$3001$$                   $$3016$$                     $$3169$$

Certificate of Deposit         $$.0075$$            $$3001$$                   $$3022$$                    $$3232$$

2. How much did the money grow in each bank account from just interest over $$10$$ years?

3. What brought in more money over $$10$$ years, monthly savings or interest growth?

Q: Sterling Manufacturing provides group health insurance membership to its employees. Employees may choose between two plans:

- Plan A costs $$\ 3,500$$ per year, of which the company will contribute $$80 \%$$

- Plan B costs $$\ 2,790$$ per year, of which the company will contribute $$70 \%$$

Which plan is cheaper for the company?

A. Plan B is $$\ 137.00$$ cheaper per year for the company than Plan A.

B. Plan B is $$\ 847.00$$ cheaper per year for the company than Plan A.

C. Plan A is $$\ 847.00$$ cheaper per year for the company than Plan B.

D. Plan A is $$\ 137.00$$ cheaper per year for the company than Plan B.

Q: Mike Blot had to undergo emergency surgery. His total hospital bill was $$\ 94,506$$ . His hospital and surgical-medical insurance paid a total of $$\ 86,500 .$$ His major medical has a deductible of $$\ 300$$ and a $$20 \%$$ coinsurance clause. What is the total amount that Mike is responsible for paying?

$$\ 1,841.20$$

$$\ 8,006.00$$

$$\ 2,101.20$$

$$\ 1,601.20$$

Q: Steve Blink is $$35$$ years old. He wishes to purchase a $$\ 40,000$$ 5-year term life insurance policy. His annual premium per $$\ 1,000$$ is $$\ 3.83 .$$ What is his annual premium?

$$\ 119.60$$

$$\ 3.83$$

$$\ 153.20$$

$$\ 153,200.00$$

Q: How long did it take Shane to earn $$\ 1000$$ in interest on an investment if he invested $$\ 5000$$ at $$4.2 \%$$ compounded semiannually? How many compounding periods would have occurred?

Q: Jackie noticed that she had to pay a sales tax for the dress she bought at the store. What is sales tax?

A. A percentage of total sales that is collected on behalf of the state, county, or local government.

B. The amount someone pays to buy a specialty item.

C. A percentage of total sales given back to the store.

D. A percentage of total sales to be distributed to shoppers at a later time.

Q: Sam has two jobs offers for sales jobs. For job A, he would earn a monthly salary of $$\ 2,500$$ and no commission. For job B, he would earn $$\ 1,000$$ per month and commission of $$5 \%$$ on all sales. Which would pay more if his sales are $$\ 50,000$$ per month?

A. They pay the same amount.

B. Job A

C. Job B

Q: Xavier invested $$\ 71,000$$ in an account paying an interest rate of $$4 \frac { 3 } { 8 } \%$$ compounded quarterly. Eva invested $$\ 71,000$$ in an account paying an interest rate of $$4 \frac { 1 } { 8 } \%$$ compounded continuously. To the nearest hundredth of a year, how much longer would it take for Eva's money to triple than for Xavier's money to triple?

Q: Henry plans to open a retirement account and would like to have $$\ 350,000.00$$ in the account when he retires at age $$62$$ . He is currently $$32$$ . How much should he deposit each month into a monthly compounding account with an APR of $$3.0 \%$$ ?

$$\ 9,292.50$$

$$\ 111,670.20$$

$$\ 10,478.92$$

$$\ 3,379.92$$

Q: Emily works for her company for $$35$$ years. Her employer offers a monthly pension benefit of $$\ 65.50$$ for each year of service. What is her monthly pension payment once she retires?

A. $$\ 2,292.50$$

B. $$\ 2,275.00$$

C. $$\ 284.92$$

D. $$\ 191.04$$

Q: You have $$\ 6,500.00$$ that you would like to put into an annuity. You would like to receive a monthly annuity for the next $$7$$ years. The annual interest rate is $$5.5 \%$$ and compounds monthly. How much will you receive each month?

A. $$\ 945.67$$

B. $$\ 915.88$$

C. $$\ 808.51$$

D. $$\ 1,106.43$$

Q: You would like to receive $$\ 1,500$$ each year for $$10$$ years. The annual interest rate is $$4.5 \%$$ and compounds annually. How much money should you contribute to the annuity?

A. $$\ 133,615.64$$

B. $$\ 3,252.20$$

C. $$\ 11,869.08$$

D. $$\ 18,432.31$$

Q: Lisa is a hairdresser. A cut and color is $$\ 85$$ . If her customer gives her a $$15 \%$$ tip on the total cost, how much of a tip would Lisa get?

A. $$\ 1,275$$

Type: E

Groups $$2.1$$

B. $$\ 15$$

C. $$\ 127.50$$

D. $$\ 12.75$$

Q: In a survey, $$407$$ people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $$\ 45.69$$ and standard deviation of $$\ 2.05$$ . Estimate how much a typical parent would spend on their child's birthday gift (use a z-interval at a $$90 \%$$ confidence level). Give your answers to $$2$$ decimal places. Express your answer in the format of $$\overline { x } \pm$$ E.

Q: Sally Jones had a policy with a \$250 deductible which paid $$80 \%$$ of her covered charges less deductible. She had medical expenses of $$\ 18,240.00$$ . What is the insurance company's payment? $$\ 18,000$$ $$\ 14,300$$ $$\ 14,392$$ $$\ 250$$ Q: You bought a sandwich for $$\ 2.50$$ , chips for $$\ 0.75$$ , and a drink for $$\ 0.75$$ . Tax is $$5 \%$$ . How much did you pay in all? Q: Calculate the federal income taxes. In $$1864$$ , the federal income tax was $$5$$ percent on incomes between $$\ 600$$ and $$\ 5,000$$ per year, $$7.5$$ percent on incomes between $$\ 5,000$$ and $$\ 10,000$$ per year, and $$10$$ percent on incomes over $$\ 10,000$$ per year. In $$1864$$ , you made $$\ 3,000$$ . What was your income tax this year? $$\ 22.50$$ $$\ 150$$ $$\ 135$$ $$\ 1,100$$ Q: Paul Smith pays $$\ 50.00$$ a month for group health insurance. There is a $$\ 300$$ deductible. His medical bills for the last year were $$\ 2,600.00$$ . Paul's insurance company provided payment of $$80 \%$$ of the bills less the deductible. What was the insurance company's payment? $$\ 600$$ $$\ 1,840$$ $$\ 500$$ $$\ 1,800$$ Q: 6. How much money did Ivo borrow from a bank for $$6$$ months, if the simple interest rate was $$11.5 \%$$ and the total amount he had to pay the bank at maturity was $$\ 2,115.00$$ ? 7. Find the amount to which $$\ 800.00$$ will accumulate in $$10$$ years at $$9 \%$$ per annum compounded monthly. 8. If a loan of $$\ 3,500.00$$ is given on the condition that it is to bear interest at $$7.25 \%$$ per annum, compounded quarterly, to what amount would the debt accumulate in $$5$$ years? 9. Find the sum of money that accumulates to $$\ 1,791.29$$ at $$6 \%$$ compounded weekly in $$6$$ years. 10. A deposit of $$\ 700.00$$ is put into a bank account and accumulates interest compounded daily at $$15 \%$$ for $$3$$ years? a) What will the bank balance be after $$3$$ years. Q: Suppose it costs C $$\ 380$$ to purchase US\$310.61.

(a) What is the exchange rate?

(b) How many U.S. dollars will you receive if you convert C\$725 into U.S. dollars? Q: Suppose it costs $$C \ 380$$ to purchase US $$\ 310.61 .$$ (a) What is the exchange rate? (b) How many U.S. dollars will you receive if you convert C$725 into U.S. dollars?

(a) The exchange rate is $$C \ 1 = U S \ \square$$

(Round to six decimal places as needed.)

(b) $$C \ 725 =$$ US $$\$$ (Round to two decimal places as needed.)

Q: You deposit $$\ 2,500$$ in an investment account. The rate of growth is $$4.55 \%$$ a year. If you make no further deposits or withdrawals, and the investment is allowed to grow uninhibited, how long will it take for your investment to reach $$\ 5,000$$ ? Round to the nearest tenth.

Q: The following statics represent weekly salaries at a construction company

Mean     $$\ 775$$     First quartile      $$\ 445$$

Median   $$\ 665$$     Third quartile     $$\ 730$$

Mode $$\quad \ 570 \quad 93 r d$$ percentile $$\ 848$$

The most common salary is $$\ \square$$ .

The salary that half the employees' salaries surpass is $$\ \square$$ .

The percent of employees' salaries that surpassed $$\ 730$$ is $$\square \%$$ .

The percent of employees' salaries that were less than $$\ 445$$ is $$\square \%$$ .

The percent of employees' salaries that surpassed $$\ 848$$ is $$\square \%$$ .

If the company has $$100$$ employees, the total weekly salary of all employees is $$\ \square$$ .

Q: Jasmine has taken a $$\ 1500$$ loan from her bank which offers personal loans for $$1$$ to $$5$$ at $$8.5 \%$$ per year compounded monthly.

a) If she can afford monthly payments of $$\ 80$$ , how many months will it take her to the loan? Note: Use the online solverl

b) What will be the monthly payment if she opts for a $$1$$ year payment plan?

c) What will be the monthly payment if she opts for a $$2$$ year payment plan?

Q:

$$\left. \begin{array} { l } { \text { Alicia has invented a new app that two companies are interested in purchasing for a 2- year contract. } } \\ { \text { - Company A is offering } \ 10,000 \text { for the first month and will increase the amount each following month by } } \\ { \ 5000 \text { . } } \\ { \text { - Company B is offering } \ 500 \text { for the first month and will double their payment each following month. } } \end{array} \right.$$

Alicia has invented a new app that two companies are interested in purchasing for a 2-year contract.

- Company A is offering $$\ 10,000$$ for the first month and will increase the amount each following month by

$$\ 5000$$ .

- Company B is offering $$\ 500$$ for the first month and will double their payment each following month.

Q:

Mia invests $$\ 4000$$ at $$5 \%$$ with interest compounded annually. What is the value of the investment after $$10$$ years?

a. $$\ 4050.00$$

b. $$\ 6515.58$$

c. $$\ 6617.47 1 + \frac { 0.05 } { 1 } ) ^ { 1 \cdot 10 }$$

d. $$\ 6758.23$$

Q: Karl can afford to save $$\ 500$$ each month for the next $$5$$ years and has a choice of two investment options.

A - Investing $$\ 500$$ at the end of each month at an annual interest rate of $$7.5 \%$$ compounded monthly.

B - Investing $$\ 250$$ at the end of each semi-monthly period and pays an annual interest rate of $$7.3 \%$$ compounded semi-monthly. Which option should he choose?

Q: Karl can afford to save $$\ 500$$ each month for the next $$5$$ years and has a choice of two investment options.

A - Investing $$\ 500$$ at the end of each month at an annual interest rate of $$7.5 \%$$ compounded monthly.

B - Investing $$\ 250$$ at the end of each semi-monthly period and pays an annual interest rate of $$7.3 \%$$ compounded semi-monthly.

Which option should he choose?

Q: Find the net amount due on this invoice. Assume each is paid within the discount period. Round dollar amounts to the nearest cent if necessary. Don't forget that the terms $$2 / 10 , n / 30$$ mean that the customer receives a $$2 \%$$ cash discount if the invoice is paid within $$10$$ days of the invoice date. If the invoice isn't paid within $$10$$ days, the net is due in $$30$$ days.

Invoice Amount    $$\ 490.40$$

Terms             $$3 / 10 , n / 45$$

Returned Merchandise    $$\ 21.50$$

Shipping Charges         $$\ 11.95$$

Cash Discount              $$\ 14.07$$

Net Amount Due            $$N A D =$$

Step 1: Subtract Returned Merchandise, if any, from Invoice Amount.

Step 2: Multiply Answer to Step $$1$$ by  of cash discount to get Cash Discount Amount.

Step 3: Subtract Cash Discount Amount from Invoice Amounts, and add any Shipping Charges to obtain the Net Amount Due.

Q: A fixed-rate investment generates a return of $$3 \%$$ per annum, compounded annually. The value of the investment is modelled by $$A = P ( 1.03 ) ^ { t }$$ , where $$P$$ is the original investment. Find the value of the investment after after $$2 \frac { 1 } { 4 }$$ years if the original investment was $$\ 700$$ . Give your answer to the nearest cent.

Q: Kymani and Raven are saving to buy an expensive sound system! Kymani has $$\ 5,450.00$$ and Raven has $$\ 3,750.00$$ . They put all their money in a mutual fund account that pays $$4.55 \% /$$ a compounded quarterly for $$5$$ years.

a) What is the total amount in the mutual fund account after $$5$$ years?

Q: Shaima is planning to build a home for $$\ 675,000.00$$ . She has saved $$10 \%$$ of this amount and has decided finance the rest of the amount through a bank at $$325 \% /$$ a compounded monthly for $$20$$ years

a) How much has Shaima saved up?

b) How much of a loan does she need?

Q: Avaz invested $$\ 1,500.00$$ at $$8.75 \%$$ simple interest for $$72$$ months.

Nihad had the same amount of money, but he decided to invest it at $$5.25 \%$$ compounded semi annually for $$6$$ years.

Who received more interest over the $$6$$ year period and by how much?

Q: If you want to turn $$\ 2000$$ into $$\ 3000$$ in four years to help pay for moving after graduation, what effective rate of interest would you need? Assume interest is computed monthly. Write your answer as a percentage rounded to two decimal places.

Q: To help open up a jewelry store, Kala borrowed money from a bank. She took out a personal, amortized loan for $$\ 48,000$$ , at an interest rate of $$6.65 \%$$ , with monthly payments for a term of $$8$$ years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.

(a) Find Kala's monthly payment.

\$

(b) If Kala pays the monthly payment each month for the full term, find her total amount to repay the loan.

$$\ \square$$

(c) If Kala pays the monthly payment each month for the full term, find the total amount of interest she will pay.

$$\ \square$$ .

Q: A local salesman receives a base salary of $$\ 700$$ monthly. He also receives a commission of $$7 \%$$ on all sales over

$$\ 1850$$ . How much would he have to sell in a month if he needed to have a monthly income of $$\ 1800$$ ? He would need to sell $$\$$

to reach his needed monthly income needs. (Round answer to the nearest penny. Do not use commas!)

Q: To help open up a jewelry store, Kala borrowed money from a bank. She took out a personal, amortized loan for $$\ 48,000$$ , at an interest rate of $$6.65 \%$$ , with monthly payments for a term of $$8$$ years. For each part, do not round any intermediate computations and round your final answers to the nearest cent.

(a) Find Kala's monthly payment.

(b) If Kala pays the monthly payment each month for the full term, find her total amount to repay the loan.

(c) If Kala pays the monthly payment each month for the full term, find the total amount of interest she will pay.

Q: In a certain region, the appraised value of a house is $$\frac { 8 } { 10 }$$ of its market value. If the market value of Owen's house is $$\ 195,000$$ , what is the appraised value? Remember to write a summary statement.

Q: Using the average daily balance method, compute the average daily balance in the following.

A customer's charge account shows a balance of $$\ 390$$ on January $$1$$ . A payment of

$$\ 100$$ was made on January $$16$$ . Purchases of $$\ 190$$ were made on January $$23$$ . An annual rate of $$19.5 \%$$ is applied to the account.

Step 1: Determine how many days the balance remains the same. For example, if a payment was made on the 10th, the balance remained the same for $$9$$ days because $$10$$ $$- 1 = 9$$ .

Step 2: Subtract any payments made (or add any purchases) with the beginning balance.

Step 3: Determine how many days the balance remains the same again. Repeat as necessary.

Step 4: Find the daily balances by multiplying the balances by the number of days in effect, then add those balances together and divide by the number of days in the month to get the average daily balance.

Step 5: Multiply the answer to step $$4$$ with the monthly rate to get the finance charge.

Q: Using the average daily balance method, compute the finance charge in the following. A customer's charge account shows a balance of $$\ 16,822.11$$ on August $$1$$ . A payment of

$$\ 450$$ was made on August $$5$$ . Purchases of $$\ 1,642.78$$ were made on August $$23$$ . The average daily balance is $$\ 16,907.11$$ . An annual rate of $$25.5 \%$$ is applied to the account. Step 1: Determine how many days the balance remains the same. For example, if a payment was made on the 10th, the balance remained the same for $$9$$ days because $$10$$ - $$1 = 9 .$$

Step $$2$$ : Subtract any payments made (or add any purchases) with the beginning balance. Step $$3$$ : Determine how many days the balance remains the same again. Repeat as necessary. Step $$4$$ : Find the daily balances by multiplying the balances by the number of days in effect, then add those balances together and divide by the number of days in the month to get the average daily balance. Step $$5$$ : Multiply the answer to step $$4$$ with the monthly rate to get the finance charge.

Q: $$2007$$ article on identity theft includes the statement: 'Electronic payments boosted the Canadian economy of $$25 \%$$ over the past two decades, reparenting $$\ 107$$ billion of the economy's $$\ 437$$ billion growth from $$1983$$ to $$2003$$ , according to a study sponsored by Visa Canada in $$2004$$ .' Identify three items of concern that would be part of critical analysis.

Q: Kate opened a savings account and deposited $$\ 300.00$$ as principal. The account earns $$12 \%$$ interest, compounded quarterly. What is the balance after $$9$$ years? Use the formula $$A = P ( 1 + \frac { r } { n } ) ^ { n t } ,$$ where $$A$$ is the balance (final amount), $$P$$ is the principal (starting amount), $$r$$ is the interest rate expressed as a decimal, $$n$$ is the number of times per year that the interest is compounded, and $$t$$ is the time in years. Round your answer to the nearest cent.

Q: Gavin opened a savings account $$3$$ years ago. The account earns $$11 \%$$ interest, compounded quarterly. If the current balance is $$\ 600.00$$ , how much did he deposit initially? Round your answer to the nearest cent.

Q: Parker earned some money doing odd jobs last summer and put it in a savings account that earns $$6 \%$$ interest compounded annually. After $$9$$ years, there is $$\ 1000.00$$ in the account. How much did Parker earn doing odd jobs? Round your answer to the nearest cent.

Q: Benjamin opened a savings account $$10$$ years ago. The account earns $$13 \%$$ interest, compounded monthly. If the current balance is $$\ 600.00$$ , how much did he deposit initially? Round your answer to the nearest cent.

Q: $$7$$ years ago, Logan won some money in the lottery and put it in a bank account that earns

$$6 \%$$ interest compounded monthly. If Logan currently has $$\ 10000.00$$ in the bank account, how much interest has he earned? Round your answer to the nearest cent.