Popular questions

Choose the correct answers for (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save the money at the monthly rate to buy the item for its cash price. A dinette table with a cash price of \$200 at \$8.50 down

asked by Carrie on May 5, 2016

Lane French had a bad credit rating and went to a local cash center. He took out a \$100 loan payable in two weeks at \$115. What is the percent of interest paid on this loan? (Do not round intermediate calculations. Round your answer to the nearest whole

asked by marie on April 2, 2014

Sam Monte deposits \$21,500 into Legal Bank which pays 6 percent interest that is compounded semiannually. By using the table in the handbook, what will Sam have in his account at the end of 6 years?

asked by Anonymous on July 9, 2011

Juan Ramirez sells suits in a major department store on weekends. He earns a commission of 5 percent on the first ten suits, and if he sells more than ten, he earns an additional 3 percent on the additional suits. Last weekend Juan sold thirteen \$250.00

asked by Cassie on December 5, 2013

Front Range Cabinet Distributors in Colorado Springs, Colorado, sells to its contractors with a 32% markup on cost. If the selling price for cabinets is \$9,357, what is the cost to contractors based on cost?

asked by stephanie on February 1, 2016

Joyce took out a loan for \$21,900 at 12 percent on March 18, 2000, which will be due on January 9, 2001. using ordinary interest, Joyce will pay back on January 9 a total amount of: Answer: \$24,068.10 Ordinary interest is 360 March 18 = 77 days January 9 -

asked by Liz on January 29, 2012

Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: \$19,500 at 8% for 2 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds.

asked by marie on April 7, 2014

Jen purchased a condo in Naples Florida for \$699,000. She put 20% down and financed the rest at 5% for 35years. What are Jens total finance charge?

asked by sara on April 12, 2015

Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS sent her a penalty charge of 8.80% simple interest on the unpaid taxes of \$3,600. Calculate the penalty. (Remember

asked by Anonymous on November 25, 2014

Andres Michael bought a new boat. He took out a loan for \$23,980 at 3.75% interest for 4 years. He made a \$4,470 partial payment at 4 months and another partial payment of \$3,180 at 9 months. How much is due at maturity?

asked by sara on October 10, 2014

A \$40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest):

asked by Carli on February 12, 2015

Samantha Vega gross weekly salary is 600 dollars her weekly federal withholding is 35 dollars . the Social Security tax is 6.2 percent of the first 90,000 . the Medicare tax is 1.45 percent of gross pay. this state tax is 1.5 percent of gross pay. each

asked by lauran on March 5, 2013

Myerson borrowed \$8,500 at 9% ordinary interest for 200 days. After 120 days, he made a partial payment of \$4,000. What is the final amount due on the loan?

A \$15,000, 6%, 50-day note, dated November 8, is discounted at 5% on November 28. The proceeds of the note would be __________.

asked by Blndie on January 5, 2013

Sam Long anticipates he will need approximately \$225,000 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree.How much would he have to invest today at an interest rate of 8 percent compounded semiannually?

asked by martha on October 25, 2013

A stockholder solder her shares and made a profit of \$1,408. If that is a profit of 24%, how much were her shares when she originally purchased them?

asked by Shari on June 24, 2012

The Consumer Electronics show reports that the HP Spectre laptop computer starts at \$99.70 for a base configuration. The model displayed at its recent show costs \$1,361, \$124 more than the comparable 13-inch Apple MacBook Air. If Computers-R-Us buys the HP

asked by jahnesha on July 20, 2014

Lisa Richter deposited \$5,000 at 4% compounded semiannually for three years. At the beginning of the fourth year, Lisa deposited \$2,500. What would her balance be at the end of five years assuming she is still earning 4% compounded semiannually?

asked by John on April 24, 2016

A local Barnes and Noble paid a \$79.33 net price for each calculus textbook. The publisher offered a 10% trade discount. What was the publisher’s list price? (Round your answer to the nearest cent.)

asked by Mandy on February 27, 2014

Al Smith, who lives in Territory five, carries 10/20/5 compulsory liability insurance along with optional collision that has a \$300 deductible. Al, who was at fault in an accident, caused \$4,000 damage to the other auto, as well as \$900 damage to his own.

asked by Wally on January 11, 2013

Stereo Inc. sells a stereo system for \$300 down and monthly payments of \$80 for the next 3 years. If the interest rate is 3.25 % per month, what is the cost of the stereo?

asked by jack on February 9, 2011

Lee Holmes deposited \$ 15,000 in a new savings account at 9% interest compounded semiannually, At the beginning of year 4, Lee deposites an additional \$40000 at 9% interest compounded semiannually. At the end of the 6 years what is the balance in Lee;s

asked by Jean on December 5, 2012

Date|Units Purchased|Cost Per Unit January1| 10| 8.00 (Beginning inventory) January18| 50| 9.00 February20| 20| 11.00 March15| 10| 12.00 (Ending inventory: 19) The specific identification method indicates the following units to be on hand: January 1, (2);

asked by TheRealPrincess on December 9, 2016

Alicia borrowed \$8,500 at 6% ordinary interest for 180 days. After 40 days, she made a partial payment of \$2,000. After another 70 days, Alicia made a second partial payment of \$2,000. What is the final amount due on the loan?

asked by JaQuis on October 22, 2014

The proceeds of a \$9,500.00, 10 percent simple discounted note for 95 days is?

asked by TheRealPrincess on December 15, 2016

What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of \$3,960.00, if she has already earned \$42,560.00 this year? (Social security tax is 6.2% of gross wages up to \$106,800. Medicare tax is 1.45% of

asked by Vic on October 17, 2015

Paul Curcio earns \$8.25 per hour for regular time up to 40 hours, time-and-a-half for overtime, and double time for the midnight shift. Last week Paul worked 58 hours, including 6 on the midnight shift. What are his gross earnings?

asked by shanise on March 8, 2014

Frank's base pay rate is \$15.50 per hour, with overtime pay of time-and-a-half, and double-time for holidays. Calculate her gross pay if she worked 6.5 holiday hours in addition to 38.5 hours Monday through Saturday. (Round your answer to the nearest

asked by Shiquita on December 5, 2014

Lee and Fred are elementary school teachers. Fred works for a charter school in Pacific Palisades, California, where class size reduction is a goal for 2013. Lee works for a noncharter school where funds do not allow for class size reduction policies.

asked by Kat on December 13, 2018

You were offered the opportunity to purchase either a simple interest note or a simple discount note with the following terms: \$33,353 at 7% for 18 months. a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final

asked by marie on April 7, 2014

Stereo Inc. sells a stereo system for \$500 down and monthly payments of \$60 for the next 4 years. If the interest rate is 1.75% per month, find: a) The cost of the stereo. b) The total amount of interest paid.

asked by Alex on March 18, 2015

a new piece of equipment cost \$18,000 with a residual value of \$600 and an estimated useful life of five year. Assuming twice the straight-line rate, the book value at the end of year 2 busing the declining-balance method

asked by KayKay on July 7, 2016

tony towing borrows of \$12,250 at 9.5% interest for 320 days if bank use exact interest method how much interest will the bank collect? Round to nearest cent

asked by angela on June 25, 2013

Being inventory of 12 sets of paints at a cost of \$1.50 each. During the year the store purchased 4 sets at \$1.60, 6 sets at \$2.20, 6 sets at \$2.50, and 10 sets at \$3.00. By the end of the year, 25 sets were sold. Caculate the number of paint sets in stock

asked by Jean on December 26, 2012

Jill Ley took out a loan to pay for her child's education for \$60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:

asked by Anonymous on December 26, 2011

A truck costs \$35,000 with a residual value of \$2,000. Its service life is five years. Using the declining-balance method at twice the straight-line rate, the book value at the end of 2 years is?

asked by lawand on May 28, 2016

2.) Maximizing revenue: The quantity demanded each month of the Sicard wristwatch is related to the unit price by the equation p=50/0.01x^2 + 1 (0 < or = x < or = 20) where p is measured in dollars and x is measured in units of a thousand. To yield a

asked by pypski on December 14, 2016

A local Barnes and Noble paid a \$79.44 net price for each calculus textbook. The publisher offered a 20% trade discount. What was the publisher’s list price?

asked by melanie on February 24, 2015

John’s Bikes uses the retail inventory method. Sales at retail were \$120,000.00. Net purchases were \$68,000.00 at cost and \$124,000.00 at retail. Beginning inventory was \$32,000.00 at cost and \$76,000.00 at retail. Using the retail method, what was their

asked by Murph on April 11, 2018

You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The shops sell 12 racing bikes per week at a retail price of \$679.99. Recently, you put the bikes on sale at \$599.99. At the sale price, 15 bikes were sold during

asked by Vic on October 2, 2015

On May 19, Bette Santoro borrowed \$3,000 from Resse Bank at a rate of 12½%. The loan is to be repaid on October 8. Assuming the loan is based on exact interest, what's the total interest cost to Bette? A. \$265.89 B. \$175.89 C. \$145.89 D. \$345.89 The

asked by Anonymous on July 19, 2019

A second hand furniture store buys sofas with a list price of \$9,500. If the wholesaler offers trade discounts of 10/20/30, find the single equivalent discount.

asked by tia on January 29, 2015

Abigail sells rice to store. she has a total of 125 cavans that she plans to distribute to three stores. if she gives 1/5 of what she has to store A can she devide the remaining equally to store B and C? how many store A and store B get?

asked by Anonymous on September 3, 2017

. Ludwig borrowed \$8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method?

asked by tanisha on September 7, 2014

Assume 450,000 people line up on the streets to see the Macy's Thanksgiving Parade in 2010. If attendance is expected to increase 30%, what will be the number of people lined up on the street to see the 2011 parade?

asked by jahnesha on July 8, 2014

Lance Lopes went to his bank to find out how long it will take for \$1,700 to amount to \$2,900 at 10% simple interest. Can you solve Lance’s problem?

asked by Tonya on February 16, 2015

Family Flowers employs 17 people, of whom 14 earn gross pay of \$640 each and 3 earn gross pay of \$720 each on a weekly basis. What is the employer

asked by Jerrick Chaffin on November 24, 2014

It costs \$5,600 to manufacture a Jet Ski. If the desired percent markup based on cost is 48%, how much should each Jet Ski sell for?

asked by sandra on January 23, 2015

Oprah Winfrey ha closed on a 42- acre estate near Santa Barbara California for \$50,000,000 If Oprah puts down 20% down and finances at 7% for 30 years what would be her monthly pay payment.

asked by k on March 21, 2013

Jane is having difficulty deciding whether to put her savings in the Mystic Bank or in the Four Rivers Bank. Mystic offers a 12% rate compounded quarterly, and Four Rivers offers 14% compounded semiannually. Jane has \$40,000 to invest and expects to

asked by Ash on April 4, 2016

Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted when the offer came through at \$14.90 per hour. She completed her W-4 stating that she is married with a child and claims an

asked by dusty on August 13, 2018

Shelley Katz deposited \$30,000 in a savings account at 5% interest compounded semiannually. At the beginning of year 4, Shelley deposits an additional \$80,000 at 5% interest compounded semiannually. At the end of 6 years, what is the balance in Shelley's

asked by Michelle on May 16, 2012

Lena Horn bought a Toyota Tundra on January 1 for \$30,000 with an estimated life of 5 years. The residual value of the truck is \$5,000. Assume a straight-line method of depreciation. a. What will be the book value of the truck at the end of year 4? b. If

asked by Stef on April 22, 2018

Jones Manufacturing sent Blue Company an invoice for equipment with a list price of \$10,000. The invoice is dated July 27 with terms of 2/10, EOM. Blue Company is entitled to a 40% trade discount. If the invoice is paid on September 5, how much does Blue

asked by Jeffrey W on December 2, 2014

Pete's warehouse has a market value of \$5,000,000, the property in Pete's area is assessed at 40%of the market value. the tax rate is \$105.10 per \$1,000 of assessed value. what is Pete's property tax?

asked by shawn on March 11, 2012

Katie Hector wants to purchase a condo in Oxford, MS, in 20 years. The cost of the condo is expected to be \$180,000. Assuming she can earn 6% annually, what should Katie deposit today? \$126,900

asked by sirsir on October 26, 2017

Aunt Sally’s “New Orleans Most Famous Pralines” sells pralines costing \$1.10 each to make. If Aunt Sally’s wants a 35% markup based on selling price and produces 45 pralines with an anticipated 15% spoilage, what should each praline be sold for?

asked by Raj on February 8, 2019

Pete Air wants to buy a used Jeep in 5 years. He estimates the Jeep will cost \$15,000. Assume Pete invests \$10,000 now at 12% interest compounded semiannually. Calculate the maturity value of the investment

asked by Jimmy on November 10, 2013

The proceeds of a \$7,500.00, 10% simple discounted note for 85 days is:

asked by efi on June 22, 2010

Marcus invests \$8,000, at 8% interest, compounded annually for 15 years. Calculate the compound interest for his investment.

asked by Jasmine on March 16, 2019

What is the (net price equivalent rate-in decimals, Single Equivalent discount rate-in decimals, trade discount and net price)of a digital camera with List price \$450 and chain discount 8/3?

asked by Sandra on January 24, 2007

A newly couple has \$15,000 toward the purchase of a house. For the type and size of house the couple is interested in buying, an estimated down payment of \$20,000 will be necessary. How long will the money have to be invested at 10% compounded quarterly to

asked by Lillian on March 14, 2017

A store had 896 swimsuits that were marked to sell at \$46.99. Each suit was marked down \$15.90. Find the reduced price using the formula M = S – N, where M is the markdown, S is the original selling price, and N is the reduced price.

asked by Nancy on September 8, 2013

Suppose that in a monopoly market the total cost per week of producing a high tech product is given by C(x) =3600+100x+2x^2. Suppose further that the weekly demand function for this product is p=500-2x. Find the number of units that will give the break

asked by pypski on November 27, 2016

Andres Michael bought a new boat. He took out a loan for \$23,980 at 3.75% interest for 4 years. He made a \$4,470 partial payment at 4 months and another partial payment of \$3,180 at 9 months. How much is due at maturity?

asked by sara on October 10, 2014

What are the proceeds of a note for \$5,500 at a discount rate of 8%, for 30 months?

asked by JJ on November 3, 2013

Oakwood plowing company purchased two new plows for the upcoming winter. Oakwood must make a single payment of 25,03 to pay for the plows. As of today he has \$24,200. Asuume the Oakwood puts the money in the bank today, what rate of interest will it need

asked by Donna on March 14, 2013

toby signed a simple discount promissory note for \$20,000. the discount rate is 8.5%, and the term of the note is 90 days. what are toby's proceeds on the loan?

asked by Anonymous on December 18, 2014

Joanne and Ed Greenwood built a new barn with an attached arena. To finance the loan, they paid \$1,307 interest on \$45,000 at 4.0%. What was the time, using exact interest? (Do not round intermediate calculations. Round up your answer to the nearest day.)

asked by marie on April 2, 2014

Treasure Mountain International School in Park City, Utah, is a public middle school interested in raising money for next year's Sundance Film Festival. If the school raises \$2,989 and invests it for 1 year at 3% interest compounded annually, what is the

asked by Jazmin on September 1, 2014

Manually calculate the compound interest on an investment of \$8500 at 6% interest, compounded semiannually, for 18 mo.

asked by sandra on March 9, 2012

Asia Desai deposited \$6,000 in a savings account that pays 5.5 percent interest compounded daily. How much interest did she earn in 21 day

asked by kathia on December 19, 2016

The weekly payroll of Abkar Hardware includes 19 employees who earn \$280.00. How much is the employer's share of total social security and Medicare taxes for the first quarter of the year?

asked by Vic on October 17, 2015

Alicia borrowed \$8,500 at 6% ordinary interest for 180 days. After 40 days, she made a partial payment of \$2,000. After another 70 days, Alicia made a second partial payment of \$2,000. What is the final amount due on the loan? a. \$4,687.21 b. \$4,684.62 c.

asked by Shiquita Sol on December 12, 2014

If the interest rate is 3% and a total of \$4,370.91 will be paid to you at the end of 3 year, what is the present value of that sum.

asked by Jackie on June 23, 2013

Nancy would like to accumulate \$10,000 by the end of 3 years from now to buy a used car from her friend,Jin. She has \$2,500 now and would like to save equal annual end of year deposits to pay for the car. Calculate how much should she deposit at the end of

asked by Tracy on July 1, 2017

Joan Roe Borrowed \$85,000 at a rate of 113/4 percent. The date of the loan was July 8. Joan is to repay the loan on Sept 14. Assuming the loan is based on exact interest, the interest Joan will pay on Sept 14 is?

asked by Susan on March 12, 2013

7. By using the table in the handbook, the present value of \$12,000 for six years compounded at 6 percent semiannually is:

asked by Tanisha on October 4, 2012

Camille Keegan sells lamps for \$105.55 that cost her \$75.00. Camille's percent of markup based on the selling price is:

asked by Dan on March 22, 2016

If \$4000 is deposited at the end of each year in an account that earns 6.2% compounded semiannually, how long will it be before the account contains \$120,000?

asked by Sophie on January 6, 2017

The company opened a special checking account. The charge for each check written was either .55 or \$6 a month whichever is greater. At the beginning of the month, the company checkbook balance was \$695.18. The company wrote 14 checks totaling \$312.88.

asked by Anonymous on August 1, 2019

Classic Furniture purchases dining room sets with an invoice date of September 27, and terms of sale of 3/10, n/60. What is the net date?

asked by Anonymous on August 24, 2013

Meg's pension plan is an annuity with a guaranteed return of 7% interest per year (compounded monthly). She would like to retire with a pension of \$20000 per month for 20 years. If she works 28 years before retiring, how much money must she and her

asked by Liz c on October 26, 2010

Please Help. I have worked and worked on this and just don't seem to undertand what I am suppose to do. Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than \$115 for a comforter. Misu Sheet wants to advertise the comforter as

asked by Ruthie on October 6, 2016

On May 12, Scott Rinse accepted an 8000.00, 12%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 10% What proceeds does Scott receive?

asked by Anonymous on October 30, 2011

2. The interest on \$6,000 at 6 percent compounded semiannually for 8 years is: (Use table in the handbook) (Points : 1)

asked by Tanisha on October 5, 2012

If refinishing your basement at a cost of \$44,568 would add \$18,520 to the resale value of your home, what percent of your cost is recouped? (Round to the nearest percent.)

asked by jahnesha on July 7, 2014

Ignacio obtains a loan of \$9,500, at 8.75% interest, for months. Find the amount of simple interest. (Round to the nearest cent) \$598.78 \$658.07 \$701.36 \$825.55 The answer I got was \$658.07, is that right?

asked by Tee on July 6, 2013

Adela borrowed \$10,500 at 12% ordinary interest for 170 days. After 40 days, she made a partial payment of \$3,000. After another 80 days, Adela made a second partial payment of \$2,000. What is the final amount due on the loan?

asked by Joshua on October 15, 2019

The rate of bacteria growth in a laboratory experiment was measured at 11% per hour. If this experiment is repeated and begins with 6 grams of bacteria, how much bacteria should be expected after 15 hours? Round to the nearest tenth of a gram.

asked by Anonymous on April 26, 2018

Anny invests \$8,500, at 6% interest, compounded quarterly for 12 years?

asked by sally on March 31, 2015

Of the 4800 students at Medium Suburban College (MSC), 50 play collegiate soccer, 60 play collegiate lacrosse, and 96 play collegiate football. Only 6 students play both collegiate soccer and lacrosse, 6 play collegiate soccer and football, and 16 play

asked by liz c on November 14, 2010

In how many ways can 5 ice cream toppings be chosen from 12 available toppings?

asked by cmb on October 27, 2010

The last semimonthly payroll of Garcia Carpentry was \$84,248 of gross wages for 38 employees. The company pays 5.2% of payroll for vacations and sick leave and \$72.22 per employee for health insurance. What percent of payroll is the total cost of fringe

asked by Vic on October 17, 2015

. Pamela Mello is paid on an incremental commission schedule. She is paid 2.6% on the first \$60,000 and 3.4% on any sales over \$60,000. If her weekly sales volume was \$89,400, what was her total commission? (Points : 3)

asked by douny on June 22, 2013

Bob makes his first deposit into an IRA earning % compounded annually on the day he turns 27 and his last deposit on the day he turns 35. (9 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn % interest compounded

asked by lauren on February 9, 2011

What payment should be made on an invoice in the amount of \$3,400 dated August 7 if the terms of sale are 3/15, 2/30, n/45 and the bill is paid on August 19

asked by shelley on May 24, 2013

Given interest of \$11,900 at 6 percent for 50 days (ordinary interest), one can caculate the principle as?

asked by Susan on March 12, 2013