1. determine the difference between the monthly payments on a $120,000 home at 61∕2% and at 8% for 25 years
$140.10 per month
Cash price: $5,600
Down payment: $0
Cash or trade months with bank-approved credit; amount financed: $5,600
Finance charge: $2,806
Total payments: $8,406
What is the APR by table lookup?
2. Joe Sullivan invests $9,000 at the end of each year for 20 years. The rate of interest Joe gets is 8%
annually. Using the tables in the Business Math Handbook that accompanies the course textbook,
determine the final value of Joe’s investment at the end of the 20th year on this ordinary annuity.
3.Jen purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at
5% for 35 years. What are Jen’s total finance charges?
4.Cost of car: $26,000
Residual value: $6,000
Life: 5 years
Using the given information, determine the depreciation expense for the first year straight-line method?
5. John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The
bank’s loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?
6. At the beginning of each year, Bill Ross invests $1,400 semiannually at 8% for nine years. Using the
tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of
the annuity due at the end of the ninth year.
7. Dick Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a
mortgage for 25 years at 8%. What is the total interest cost of the loan?
8. Lee Company has a current ratio of 2.65. The acid test ratio is 2.01. The current liabilities of Lee are
$45,000. Assuming there are no prepaid expenses, the dollar amount of merchandise inventory is
9. Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 ½% for 30 years.
Using the tables in the Business Math Handbook that accompanies the course textbook, determine his
10. A truck costs $35,000 with a residual value of $2,000. Its service life is five years. Using the decliningbalance
method at twice the straight-line rate, the book value at the end of year 2 is
We are committed to making our customer experience enjoyable and that we are keen on creating conditions where our customers feel secured and respected in their interactions with us.
With our qualified expert team who are available 24/7, we ensure that all our customer needs and concerns are met..
Our refund policy allows you to get your money back when you are eligible for a refund. In such a case, we guarantee that you will be paid back to your credit card. Another alternative we offer you is saving this money with us as a credit. Instead of processing the money back, keeping it with us would be an easier way to pay for next the orders you placeRead more
All orders you place on our website are written from scratch. Our expert team ensures that they exercise professionalism, the laid down guidelines and ethical considerations which only allows crediting or acknowledging any information borrowed from scholarly sources by citing. In cases where plagiarism is confirmed, then the costumier to a full refund or a free paper revision depending on the customer’s request..Read more
Quality is all our company is about and we make sure we hire the most qualified writers with outstanding academic qualifications in every field. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
We understand that students are not allowed to seek help on their projects, papers and assignments from online writing services. We therefore strive to uphold the confidentiality that every student is entitled to. We will not share your personal information elsewhere. You are further guaranteed the full rights of originality and ownership for your paper once its finished.Read more
By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more