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May 24, 2015

May 24, 2015

Posted by **morgan** on Wednesday, October 26, 2011 at 10:19am.

Dexter Banler's account

Principal: $1,604

Rate: 10% compound

Length of period: month

$3208.00 $1764.40

$1630.85

3. Ray Sugar's account

Principal: $1,700

Rate: 9.5% compound

Length of period: quarter

Third quarter's interest: _________

$161.50 $16.15

$42.32

4. Determine the total in Ray's account after three quarters using the information below.

Ray Sugar's account

Principal: $1,700

Rate: 9.5% compound

Length of period: quarter

$1,861.50 $1824.03

$1716.15

5. Determine the second quarter's interest earned by Sue's account using the information below.

Sue Palka's account

Principal: $2,118

Rate: 8.75% compound

Length of period: quarter

Second quarter's interest: _________

$185.33 $176.56

$47.34

6. Determine the total in Sue's account after 2 quarters using the information below.

Sue Palka's account

Principal: $2,118

Rate: 8.75% compound

Length of period: quarter

$2,211.67 $2,165.34

$2,303.33

7. Determine the total loan amount for Sean Combs.

Amount of loan: _________

Number of payments: 9

Each payment: $15.90

Interest: $18.10

$125 $143.10

$124.20

8. Determine the number of payments for Micah McCarter.

Amount of loan: $5,500

Number of payments: _________

Each payment: $125.13

Interest: $506.24

44 48

52

9. Determine the amount of each payment for Kyle Moneymaker.

Amount of loan: $1,500

Number of payments: 24

Each payment: _________

Interest: $66

$62.50 $66.75

$65.25

10. Kristen Taylor purchased a new coat for $289. She paid $50 down and borrowed the remainder. She had to make 8 payments of $32.27 each. How much interest did she pay on the loan? $59.16 $19.16

$29.16

11. Borrowed: $250

Loan type: single payment

Interest rate: 12%

Time of loan: 2 months

Amount to repay: _________ $255 $280

$310

12. Borrowed: $500

Loan type: installment

Interest rate: 8.5%

Number of payments: 12

Monthly installment: _________ $45.21 $41.67

$43.61

13. Borrowed: $474

Loan type: single payment

Interest rate: 16%

Time of loan: 1 month

Amount to repay: _________ $549.84 $480.32

$492.34

14. Borrowed: $800

Loan type: single payment

Interest rate: 15%

Time of loan: 3 months

Amount to repay: _________ $920 $860

$830

15. Borrowed: $950

Loan type: monthly installments

Interest rate: 9.5%

Number of payments: 30

Monthly installments: _________ $39.19 $32.80

$35.70

16. Borrowed: $400

Loan type: add-on

Interest rate: 9%

Number of payments: 12 monthly installments

Monthly payment: _________ $36.33 $34.56

$37.65

- buissness math -
**SraJMcGin**, Wednesday, October 26, 2011 at 11:01amWe HELP but we do not DO the work for you. Here are some accounting tutorials you might like to have:

http://search.yahoo.com/search?fr=mcafee&p=accounting+tutorials

For interest calculations:

http://search.yahoo.com/search?fr=mcafee&p=how+to+determine+otals+in+accounts+with+rates+and+loans

Sra