Exam 6: Applications for Business

A department store employs 1300 people during the holidays. At the end of the holiday season, the store reduces the number of employees by 50%. What is the decrease in the number of employees?

An automobile manufacturer increased the average mileage on a car from 20 miles per gallon to 20.4 miles per gallon. Find the percent increase in mileage. Round your answer to the nearest tenth of a percent.

A family spent $1900 on gas, oil, and car insurance during a period in which the car was driven 15,000 miles. Find the cost per mile for gas, oil, and car insurance.

Rosalinda Johnson took out a 3-month, $12,000 loan. The annual simple interest rate on the loan was 8.5%. Find the monthly payment. Round your answer to the nearest cent.

Nicole Tobin, a salesperson, receives a salary of $300.00 per week plus a commission of 10% on all sales over $2500. Find her earnings during a week in which sales totaled $3500.

A pharmaceutical company paid a dividend of $2.4 per share. After a reorganization, the company reduced the dividend by 34.5%. a. What was the amount of the decrease? b. What is the new dividend?

A podiatrist is considering purchasing a new office building with a 25-year, $420,000 mortgage at 8% interest. The podiatrist can afford a monthly mortgage payment of $3200. Can the podiatrist afford the monthly mortgage payment on the new office building?

A car loan of $15,000 is financed for 4 years at an annual interest rate of 10%. Find the monthly car payment.

A credit card company charges a customer 1.05% per month on the unpaid balance of charges on the credit card. What is the finance charge in a month when the customer has an unpaid balance of $150.84? Round your answer to the nearest cent.

Tanya invested $1000 in a tax-sheltered annuity that pays 9% annual interest compounded monthly. Find the value of her investment after 5 years. Round your answer to the nearest cent.

A new computer system reduced the time for printing the payroll from 47 minutes to 27 minutes. a) What is the amount of the decrease? b) What percent decrease does this amount represent? Round your answer to the nearest percent.

Joel had a checking account balance of $291.06 before a deposit of $146.35 was made. Joel then wrote two checks, one for $38.15 and one for $207.54. Find the current checkbook balance.

The annual property tax on a $150,000 home is $1980. Find the monthly property tax.

Find the unit cost. Round to the nearest tenth of a cent. Adjustable wood clamps, 4 for $11.95

Ian Goldman purchased a new home for $193,000. The lender requires a down payment of 10% of the purchase price. Find the down payment.

You had a checking account balance of $285.43 before making a deposit of $183.18. What is your new checking account balance?

How much interest is earned in 10 years on $8000 deposited in an account that pays 7% interest, compounded monthly? Round your answer to the nearest cent.

An investor obtained a loan of $110,000 to buy a car wash business. The monthly mortgage payment was based on 15 years at 9%. Find the monthly mortgage payment. Round your answer to the nearest dollar.

A Chevrolet was purchased for $28,600, and a 20% down payment was made. Find the amount financed.

Shannon O'Hara borrowed $10,000 for 60 days at an annual interest rate of 6.5%. Find the simple interest due on the loan. Assume 365 days in a year. Round your answer to the nearest hundredth.