Exam 7: Applications of Percent

Fill in the table, assuming simple interest. }">$\text { cellpadding }=" 0 " \text { cellspacing }=" 0 " \text { width }=" 69 \% \text { " border="1"> }$ 1 P r t Future Interest Principal Rate Time Value

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Round your answer to the nearest cent. cellpadding="0" cellspacing="0" width ="56\% " border="0"> Balance Rate Payment Method \ 6,00025\%\ 1,500 Average daily balance $ __________

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Round your answer to the nearest cent. cellpadding="0" cellspacing="0" width=" 57\% " border="0"> Balance Rate Payment Method \ 60010\%\ 400 Average daily balance $ __________

If a swimming pool is marked down to $625 from $1,050, what is the percent markdown (to the nearest tenth of a percent)?

Suppose you see a car advertised with a price of $32,120 and payments of $627.35 per month for 5 years. What is the total amount of interest paid?

Fill in the table, assuming simple interest. cellpadding =0" cellspacing ="0" width ="69\% " border ="1"> I P r t Future Interest Principal Rate Time Value

Use estimation to select the best response. Do not calculate. A $49,000 30-year loan at 10% + 0.5 point + $100 origination fee Would have total fees of about

Find the amount of interest and the monthly payment for the loan described below. Round your answer to the nearest dollar. Purchased a stereo for $2,500 at 13% add-on interest for 3 years.

Find the total amount, including tax, for an item with a price of $4,333.00 and a tax rate of $3 \frac { 1 } { 4 } \%$ . Round your answer to the nearest cent. $__________

Find the cost of monthly rent for a 2-bedroom apartment in 25 years, assuming an annual inflation rate of 2%, if the current rent is $650. $ __________

Find the sales tax for the item using a sales tax rate of 6%. Round your answer to the nearest cent. Stereo, $461.95 $__________

Fill in the table, assuming simple interest. }">$\text { cellpadding }=" 0 \text { " cellspacing }=" 0 \text { " width }=" 69 \% \text { " border="1"> }$ I P r t Future Interest Principal Rate Time Value

Find (period rate), (number of periods), and (future value) for the information given. Fill in the table. cellpadding ="0" cellspacing ="0 " width=" 98\% " border ="1"> Compounding p r t n i N A Period Present Annual Time Period Number of Future Value Rate Rate Periods Value Quarterly \ 5,000 8\% 2 yr ? ? ? ? n = __________ i = __________ % N = __________ A = $ __________

Find the sales tax for the item using a sales tax rate of 5%. Purse, $51.99

Find the complement of $19 \%$ .

Choose the variable or expression that represents present value in interest formulas. __________ (choose from: A , P , r , r/n , t , n or nt )

Find the complement of the number $\frac { 6 } { 7 }$ .

How much would you have in 10 years if you purchased a $5,000 6-year savings certificate that paid 5% compounded semiannually?

Fill in the table, assuming simple interest. cellpadding = "0 cellspacing= =0" width ="69\% " border ="1"> I P r t Future Interest Principal Rate Time Value

Use the table to answer the question. }">$\text { cellpadding }=" 0 \text { " cellspacing }=" 0 \text { " align }=\text { "center" width }=" 99 \% \text { " border }=" 1 \text { "> }$ $\text { Monthly Cost to Finance } S 1,000$ Number of Years Financed Rate of 5 Years 10 Years 20 Years 30 Years Interest =60 =120 =240 =360 6.0\% 7.0\% 19.33 11.10 7.16 6.00 8.0\% 19.80 11.61 7.75 6.65 9.0\% 20.28 12.13 8.36 7.34 10.0\% 20.76 12.67 9.00 8.05 11.0\% 21.25 13.22 9.65 8.78 12.0\% 21.74 13.77 10.32 9.52 22.24 14.35 11.01 10.29 Find the amount of the down payment (rounded to the nearest hundred dollars) necessary for the buyer to afford the monthly payments for a $150,000 home with a 30-year 11% loan, if his monthly salary is $3,200 with monthly bill payments of $400. $ __________