Exam 7: Consumer Mathematics

If you purchase 1,807 shares of stock at the closing price and the broker's commission is 1.6% find The total cost of the purchase.

Express as a percent.

is a fee charged for the use of money. is the amount of money borrowed or placed into a savings account. is the percent of the principal paid for having money loaned, or earned for investing money. Unless indicated otherwise, rates are given as a percent for a term of 1 year. or term is the length of time that the money is being borrowed or invested. When the rate is given as a percent per year, time has to be written in years. is the amount of the loan or investment plus the interest paid or earned.

Express 920% as a mixed number.

You buy $131 in clothes at a department store. You can choose between coupons that offer $20 off your entire purchase or 25% off. Which will save you more money? By how much?

Consider the stock table below A. What is the current price of the stock? B. What are shareholders trying to sell it currently asking for?

Kevin bought a new car for $22,000. He made a down payment of $7,000 and has monthly Payments of $369.72 for 4 years. He is able to pay off his loan at the end of 30 months. Using the Actuarial method, find the unearned interest and payoff amount.

Roger borrowed $400.00 for 1 year. His payments are $34.50 a month. If he decides to pay the loan off after 8 months, find the amount of interest that he will save. (Use the rule of 78s.)

Fran borrowed $8,800 for 2.5 years. The simple interest is $3,080.00. Find the rate.

Leslie shares an apartment with two friends, and the rent and utilities are split equally by all three Tenants. Find the amount left for variable expenses and luxuries if her monthly income is $1,669.54 And fixed expenses are shown below. Total rent: $1,741 Total utilities $341 Public transportation: $95 Cell Phone: $89.50 Insurance: $46.60 Gym membership $39.95

After winning $78,000 on a game show, Jasmine invests the money in a fixed-rate account offering 6.7% interest compounded semiannually. How long will it take that amount to grow to $100,000?

A house sells for $69,500 and a 30% down payment is made. A 15-year mortgage at 8% was obtained. Find the monthly payment and the total interest paid.

If an investor had 405 shares of stock last year how much did the investor receive?

If the closing price of a stock is $48.88 and the annual earnings per share is $0.86, find the P/E ratio.

Raoul's credit card statement showed these transactions during May. The interest rate is 18% per month on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on June 1. [Hint: Remember that May has 31 days.]

An investor bought 500 shares of a stock at $12.92 using a broker that charged a 2% commission. Find the total cost of buying the stock.

Find the sales tax and total cost of an item that costs $289.99 if the tax rate is 4.5%.

Samir purchased a car for $40,000. He made a down payment of $20,000 and paid $631.33 monthly For 3 years. Find the APR from the table below.

A Motel is converting its rooms into privately owned condominiums. The interest on a $3,800,000, 30-year construction loan is $90,000. What is the rate of interest? Does the rate seem unreasonable?

Find the annual earnings per share.