Exam 6: Applications for Business

Juanita's average monthly expense for gasoline was $80. After joining a car pool, she was able to reduce the expense by 15%. a) What was the amount of the decrease? b) What is Juanita's average monthly gasoline bill now?

An estimate of the cost of owning a compact car is $0.36 per mile. Using this estimate, find how much it costs to operate a car during a year in which the car is driven 11,000 miles.

A & L Lumber Company purchased a delivery truck for $27,000. A sales tax of 4% of the purchase price was paid. Find the sales tax.

If Stella Swiss Lorraine cheese costs $5.99 per pound, find the total cost of 0.45 pound. Round to the nearest cent.

A nurse bought a hybrid car for $26,500. A state license fee of $345 and a sales tax of 5.25% of the purchase price are required. Find the total cost of the sales tax and the license fee.

The simple interest due on a 30-day loan of $5900 is $84.00. Find the maturity value of the loan.

Seniors Medical Supply uses a markup rate of 55%. What is the selling price of a pair of aluminum crutches that costs $18?

A carpenter bought a utility van for $21,000 and made a down payment of 20% of the purchase price. a) Find the down payment. b) Find the amount financed.

A physician obtained a 10-month loan for $50,000 to buy office equipment at an annual simple interest rate of 8.95%. The simple interest on the loan is $5900. Identify a. the principal, b. the interest, c. the interest rate, and d. the time period of the loan.

A car is purchased for $16,999, and a down payment of $999 is made. The balance is financed for 5 years at an annual interest rate of 5%. Find the monthly car payment.

By installing energy-saving equipment, the Pala Rey Youth Camp reduced its normal $1000-per-month utility bill by $450. What percent decrease does this amount represent?

Sal Travato invested $5000 in a corporate retirement account that pays 10% annual interest compounded semiannually. Find the value of his investment after 10 years. Round your answer to the nearest cent.

Your state charges a license fee of 1.4% on the purchase price of a car. How much is the license fee for a car that costs $14,498?

Find the simple interest Jacob Zucker owes on a 6-year student loan of $7000 at an annual interest rate of 6%.

Vivian Tom purchased a home for $200,000. Find the mortgage if the down payment Vivian made is 10% of the purchase price.

Cimarron Homes Inc. purchased a snow plow for $50,000 and financed the full amount for 8 years at an annual simple interest rate of 9%. a. Find the interest due on the loan. b. Find the monthly payment. Round your answer to the nearest cent.

A suit that regularly costs $200 is on sale for 35% off the regular price. Find the sale price.

Midtown Medical Supply has a warehouse with a 15-year mortgage of $120,000 at an annual interest rate of 6%. a. Find the monthly mortgage payment. b. During a month in which $300 of the monthly mortgage payment is principal, how much of the payment is interest?

A camper is purchased for $29,000, and a down payment of $7000 is made. The balance is financed for 1 year at an annual interest rate of 6%. Find the monthly payment.

A $50 blood glucose monitoring set is on sale at Discount Drugs for 25% off the regular price. What is the discount?