Basic Math question and answers for January 01, 2024
- Q Which of the following companies or industries are most likely to use process-costing rather thanjob-costing? (select all that apply)A company that hand-makes custom guitarsA company that makes budget-priced plastic kayaks...
- Q Liam has a remaining balance on his credit card of $800. His credit card has an APR of 22 percent. How much will he pay in interest in one month?a)...
- Q Use the Fv formula for an ordinary annuity. Calculate the future value of $ 507 a monthPayment: $507APR: 8%Frequency: monthlyLength of annuity: 40 years
- Q An account is opened with an initial deposit of $11000 and earns 3% interest compounded monthly What will the account be worth in 5 years?
- Q A bond has a $1,000 par value, a 5.5% interest rate, and 15 years to maturity. How much total interest will be paid on the bond until it matures?
- Q A financial advisor recommends that you add some municipal bonds to your portfolio because of their tax advantages. You currently have corporate bonds with a yield of 8.20%.How much do...
- Q Suppose you make an investment of $5,000 in an account earning 10.5% interest compounded quarterly. How many years will it take for your investment to grow to $50,000?SHOW YOUR WORK...
- Q You put $200 into an account that pays simple interest. Once a year the bank will pay you 5% interest on your money. How much interest will you earn in...
- Q Vehicle Loan Amount $36,000Term ...
- Q Hank invested $700 in a CD that had a 7.5% APR and was compounded quarterly. If Hank had the CD for 12 years, what would the total worth of the...
- Q The population and the growth rate as of 2014 for a country are shown below. Assume that the growth rate remains the same from year to year. Determine the size...
- Q Anna signed a rental agreement on a new apartment. As part of the agreement, Anna agreed to pay a 4% increase in monthly rent each year she rents the apartment....
- Q A person has $1,587 in your bank account that is paying an interest rate of 1.6% (0.016) per year. How much money will the person have in the account in...
- Q A payday loan company charges a $50 fee for a $600 payday loan that will be repaid in 11 days. Treating the fee as interest paid, what is the equivalent...
- Q Juan invests $6,000 at 13% simple interest for 1 year. How much is in the account at the end of the 1 year period?Answer: $ ___________
- Q Margo borrows $1100, agreeing to pay it back with 5% annual interest after 8 months. How much interest will she pay?Round your answer to the nearest cent, if necessary.$ ____________
- Q If you want to earn 5% annual simple interest on an investment, how much should you pay for a note that will be worth $14,200.00 in 11 months.You should pay...
- Q Hunter is looking to buy a house for $200,000 with a $10,000 down payment. If Hunter has a 15-year mortgage at a 7% interest rate, approximately how much will Hunter...
- Q What interest rate would be needed for a $9600 investment that is compounded semi-annually for 9 years if it needed to have a future value of $13000? (answer in percent...
- Q After starting her new career on New Years Eve at age 20, Tessa decides to start saving up her money. Every 2 weeks she takes $30 from her paycheck and...
- Q At the end of every 3 months, for 5 years, Alec deposits the same amount of money into a savings account that earned 1.84% interest, compounded monthly. He ended up...
- Q Matthew is going to invest in an account paying an interest rate of 5.5% compounded monthly. How much would Matthew need to invest, to the nearest ten dollars, for the...
- Q After making payments of $907.10 for 8 years on your 30-year loan at 8.7%, you decide to sell your home. What is the loan payoff? (Round your answer to two...
- Q If 38,000 dollars is invested at an interest rate of 6 percent per year, find the value of the investment at the end of 5 years for the following compounding...
- Q Tammy wants to renovate her upstairs bathroom. She is budgeting $16000 for all the changes she would like to make. She has found an investment opportunity that compounds monthly at...
- Q Camille is getting married and is hoping to buy her dream wedding dress for $5500. She has managed to save $4700 to go towards it. If she invests this in...
- Q Debts of $900 due 2 months ago and $6000 due today are to be paid by payments of $500 in two months and a final payment in five months. If...
- Q 1. Predict which investment will require a greater percent value to be invested. Explain your prediction and then verify it.A. Future value of $10 000 at 5%, compounded monthly, for...
- Q What lump sum should be deposited in an account that will earn 8% compounded quarterly, to grow to $79,562.77 in 29 years? If needed, round to 2 decimal placesThe lump...
- Q Your credit card has a balance of $4500 and an annual interest rate of 19%. You decide to pay off the balance over three years. If there are no further...
- Q Today, a $10,000 bond bearing interest at 3% payable semi-annually will be due in 9 years and 6 months. The bond is purchased today when money is worth 2% compounded...
- Q You want to be able to withdraw $35,000 from your account each year for 15 years after you retire.You expect to retire in 30 years. If your account earns 10%...
- Q Suppose you invest $120 a month for 7 years into an account earning 10% compounded monthly. After 7 years, you leave the money, without making additional deposits, in the account...
- Q At the end of every 6 months, the Dangs deposit $200 in a savings account that pays 4.5%/ a compounded semi-annually. They made the first deposit when their son was...
- Q Jared thinks it would be wise to save for his newly born son's college fund. Jared invests $7,000 into a college fund for his son. A company offers APR of...
- Q Find the finance charge for an account with an average daily balance of $256.95 and a monthly interest rate of 1.5%.(a) $38.50(b) $1.71(c) $17,130.00(d) $3.85
- Q Over the course of 8 years, Serge makes deposits of $250 every 6 months into an account that pays 3.75%/a interest compounded semi-annually. How much interest will Serge have earned...
- Q If you deposit $100 at the end of each month in a bank account with an annual interest rate of 6% compounded monthly. What will the balance be after 5...
- Q If you make a payment of $200 at the end of each month into an account that earns 2.4% annual interest, what will the future value of the account be...
- Q 1. (a) What is the largest monthly payment, to be paid at the end of each month, that we can get from perpetuity with an initial deposit of $20,000 that...
- Q Find the missing value. Round your answer to the nearest year.Principal Rate Time Simple Interest$200,000 2.5% ...
- Q A young couple wants to have a college fund that will pay $25,000 at the end of each half-year for 8 years.(a) If they can invest at 6%, compounded semiannually,...
- Q Lillian is going to invest in an account paying an interest rate of 5.7% compounded continuously. How much would Lillian need to invest, to the nearest ten dollars, for the...
- Q Maya invested $5,000 in an account paying an interest rate of 3.9% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth...
- Q Your friend deposits $7500 in an investment account that earns 8.1% annual interest. Find the balance after 6 years when the interest is compounded monthly.a) $12,193.50b) $12,134.44c) $11,967.83d) $12,173.61
- Q Use the model A = Pe ?? or A= P(1+r)?? where A is the future value of P dollars invested at interest rate compounded continuously or n times per year...
- Q Interest is compounded semianually. Find the amount in the account after the given time.Principal Rate of Interest Time$3000 6% ...
- Q Consider a six year bond with semiannual coupons of $60 each. The bond is redeemed at $500. Compute the price if the bond is purchased at a nominal yield rate...
- Q Investments that earn compound interest are more desirable, in general because:a) Compound interest rates are usually higherb) Banks will let you leave the money in longer to earn more interestc)...
- Q How many years will it take $1,000 to grow to $1,500 if it is invested at 5.75% compounded continuously?
- Q A person invests 3500 dollars in a bank. The bank pays 6.75% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money...
- Q A lottery has two options for winners collecting their prize:Option A: $20 000 quarterly payments for lifeOption B: $1 700 000 in one lump sumThe current interest rate is 3.48%/a...
- Q How much money must be deposited today to become $2150 in 20 years at 45% compounded continuously?The deposit must be $(Round to the nearest cent as needed.)
- Q On the first day of the fiscal year, a company issues a $1,000,000, 8%, 6-year bond that pays semiannual interest of $40,000 ($1,000,000 x 8% 1/2), receiving cash of $954,407.Journalize...
- Q According to lecture or reading, the type of poll that is done in a very unscientific manner and is usuallyused to predict election outcomes is defined as aExit pollTracking pollPush...
- Q If you want to double your money in 10 years, what interest rate do you need?(A) 13.6%(B) 6%(C) 7.2%(D) 10%
- Q Manny has his money in a savings account earning 3 percent interest. How long will it take his money to double?(A) 12 years(B) 2 years(C) 24 years(D) 18 years
- Q Manuel has a remaining balance of $563 on his credit card. His credit card company has an APR of 15 percent. How much will Manuel pay in interest for one...
- Q The CDC reported a total number of COVID deaths in the United States to be 571,762 on April 19,2021. On that same date in 2020, the total number of COVID...
- Q Andy is investing in a 401(k) that promises 5.99% annual growth. He plans on investing $230 each month for 27 years (there is no employer matching). Excel calculates an overall...
- Q Mariano is investing in a 401(k) that promises 6.99% annual growth. He plans on investing $150 each month for 32 years (there is no employer matching). Excel calculates an overall...
- Q In July of 2020, the United States unemployment rate was 10.2%; in August, it was 8.4%. Which of the following is true?(A) There is a 21.4% decrease in the United...
- Q Monique is deciding which raise to take for her salary: adding $1500 dollars at the end of the year to her salary or adding 1.5% of her current salary. She...
- Q A refrigerator used by a wholesale warehouse has a cost of $81,100, an estimated residual value of $5,300, and an estimated useful life of 8 years. What is the amount...
- Q Steve's property tax is $140 less than Patricia's property tax. If Steve's property tax is $1,960, then Steve's property tax is what percent less than Patricia's property tax, to the...
- Q The initial margin required for futures tradingcan be put up by either party, whoever initiates the transaction.must be put up by both the buyer and the seller.is only put up...
- Q You want to be able to withdraw $40,000 each year for 25 years. Your account earns 5% interest.a) How much do you need in your account at the beginning?b) How...
- Q A loan of $6930 was made on May 24 for 214 days at 9%. Find the present value of the loan on July 19, if the time value of money...
- Q Widmer Company had gross wages of $249,000 during the week ended June 17. The amount of wages subject to social security tax was $224,100, while the amount of wages subject...
- Q The payroll register for D. Salah Company for the week ended May 18 indicated the following:Salaries $490,000Federal income tax withheld 98,000The salaries were all subject to the 6.0% social security...
- Q Hasty and Tasty Foodservice received a 120-day, 10% note for $48,000, dated April 9 from a customer on account. Assume 360 days in a year.a. Determine the due date of...
- Q Journalizing Installment NotesOn the first day of the fiscal year, a company issues $71,000, 11%, six-year installment notes that have annual payments of $17,783. The first note payment consists of...
- Q Journalize Period PayrollThe payroll register of Patel Heritage Co. indicates $1,500 of social security withheld and $375 of Medicare tax withheld on total salaries of $25,000 for the period. Federal...
- Q An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 55 hours during the week.Assume...
- Q The payroll register of Patel Heritage Co indicates $1,206 of social security withheld and $301.50 of Medicare tax withheld on total salaries of $20,100 for the period. Earnings of $5,600...
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