Questions -

Question 1 - A game system sells for $325 with a markup of $65. Use the equation C = S - M to solve for the cost, where C is the cost, S is the selling price, and M is the markup.

a. $662

b. $260

c. $360

d. $242

e. $360

Question 2 - Use proportions to solve the problem. Jim drove 225 miles in 5 hours. If he can keep the same pace, how long will it take him to drive 1350 miles?

a. 60 hr

b. 30 hr

c. 40 hr

d. 1125 hr

Question 3 - Jake Dowell has total fixed monthly expenses of $1393 and his gross monthly income is $3813. What is his debt-to-income ratio? Round to the nearest percent.

a. 4%

b. 27%

c. 37%

d. 3%

Question 4 - Solve the problem using the tables attached.

What are the monthly payments on a $75,000 universal-life insurance policy for a 35-year old female using a preferred rate?

Question 5 - Find the monthly mortgage payment using

Question 6 - Find the interest paid on a loan of $7216 at 13% annual simple interest for 1.7 years.

Question 7- Solve for the unknown in the equation.

8(B + 7) = 10B + 56

a. B = 0

b. B = 56

c. B = 112

d. B = -56

Question 8 - Find the ordinary interest on a loan of $2300 at 6% annual interest. The loan is due after 50 days.

Question 9 - Find the property tax. Round to the nearest cent.

Assessed value - $81,500

Tax rate - $6.80 per $100              

a. $ 554.20

b. $1198.53

c. $5542.00

d. $11,985.29

Question 10 - Find the monthly payment for a 35-year fixed-rate loan of $410,000 at 5.2% annual interest.

Question 11 - Find the future value of a five-year investment of $7,525 at 5% interest, compounded quarterly.

Question 12 - Find the sales tax on $198.40 at 5.5%.

Question 13 - Barry Newman's savings account has a balance of $3535. After 2 years, what will the amount of interest be at 5% compounded annually? Use formula to solve the problem.

a. $367.34

b. $1767.50

c. $353.34

d. $362.34

Question 14 - If a 2% charge is added to the annual premium of $1334.30 when payments are made semiannually, how much would semiannual payments be?

a. $1334.30

b. $605.88

c. $355.39

d. $680.49

Question 15 - Use a formula to find the monthly payment on a home mortgage of $103,100 at 4.884% interest for 15 years.

a. $809.09

b. $4199.37

c. $389.47

d. $283.26

Question 16 - Mersha makes a deposit of $121.20 on January 15 from an account with a prior balance of $10,540.20. How would this be recorded in the following transaction register?

Question 17 - Bradley takes a fixed-rate, 20-year loan with a monthly payment of $1,450.00. The amount financed was $145,000. What is the total amount of interest charged?

a. $103,000

b. $203,000

c. $213,000

d. $209,000

e. $303,000

Question 18 - The Montgomerys borrowed $88,000 at 7.50% for 30 years to purchase a house. Find the total interest the Montgomerys will pay if they pay the loan on schedule.

a. $ 133,511.60

b. $ 122,672.00

c. $ 146,115.20

d. $ 138,828.80

Question 19 - Find the balance for the check stub.

Question 20 - Find the total sales price of a vacuum cleaner that lists at $230.00 and is subject to a 4.5% sales tax.

Question 21 - Find the property tax on a property with an assessed value of $41,180 in a community with a tax rate of $50.50 per $1000 of assessed value. Round to the nearest cent.

a. $207.96

b. $2079.59

c. $815.45

d. $8154.50

Question 22 - Patricia took out a loan for an expensive sports car. The total interest for the 37 month loan was $24,261. Find the interest which will be refunded if she pays the loan in full with 4 payments remaining.

a. $364.28

b. $218.57

c. $207.06

d. $345.11

Question 23 - How much compound interest is earned on a deposit of $3100 at 0.75% compounded daily for 10 days?

a. $0.43

b. $0.64

c. $3100.64

d. $0.84

Question 24 - Reconcile the bank statement with the check registers balance. Find the current balance.

a. $2993.30

b. $2988.45

c. $3037.20

d. $2998.15

Attachment:- Assignment Files.rar