Exam 7: Consumer Mathematics

A 25-year-old decides that her goal is to retire at age 50 with at least $2,000,000 in savings. The Company investment annuity offers 7.3% annual returns, compounded monthly. What amount will She need to invest each month?

In order to help pay for college, the grandparents of a child invest $850 in a bond that pays 15% Interest compounded semiannually. How much money will there be in 7.5 years?

Find the amount of interest earned.

Find the effective rate when the stated rate is 15.5% and the interest is compounded semiannually.

When the company makes money, it can choose to distribute part of the profit to its shareholders. This money is called a .

A building sells for $350,000.00. The buyer makes a 20% down payment and obtains a 30-year mortgage at 6.5% (i)Find the down payment. (ii)Find the amount of the mortgage. (iii)Find the monthly payment. (iv)Find the total interest paid.

Find the missing value.

A student loan is taken out for $7,500 at 7.3%. The student graduates 2 years and 3 months after the Loan is acquired. Payments are deferred for 3 months after graduation. Find the total amount of Interest that will accrue before regular payments begin, using 30-day months.

What was the closing price of the stock the day before yesterday?

Find the future value of the loan. P = $13,200, r = 6.5%, t = 2 months

Express as a percent. Leave the solution in "bar notation."

$2,100 is invested for 6 months in a savings account with a rate of 7.5% simple interest per year. Find the interest.

Joan purchased a refrigerator for $1,200. She made a down payment of $65 and paid $121 a month For 11 months. Find the total installment price of the refrigerator.

If you have a $600 balance on a credit card that charges 17% interest compounded monthly, how Long will it take that amount to reach $3,000 if you don't make any payments?

What was the amount of the dividend per share that the company paid last year?

Find the missing value.

Express 0.103 as a percent.

Katie had an unpaid balance of $883.92 on her credit card statement at the beginning of May. She made a payment of $445.00 during the month, and made purchases of $23.04. If the interest rate on Katie's credit card was 20% per month on the unpaid balance, find her finance charge and the new balance on June 1.

A necklace with an original price of $409.95 is on sale for 80% off. Find the sale price.

Consider the stock table below. Is this stock more or less volatile than the market as a whole? How do you know?