Find the selling price for the given wholesale price and markup rate.

a.  wholesale price = $52, markup rate = 45%

b.  wholesale price = $185, markup rate = 80%

c.  wholesale price = $2,050, markup rate = 12.5%

d.  wholesale price = $17,600, markup rate = 4.5%

Find the wholesale price for the given selling price and markup rate.

a.  selling price = $88.40, markup rate = 30%

b.  selling price = $225, markup rate = 25%

c.  selling price = $1,148, markup rate = 180%

d.  selling price = $16,608, markup rate = 3.8%

Find the markup rate for the given wholesale price and selling price.

a.  wholesale price = $140, selling price = $210

b.  wholesale price = $80, selling price = $108

c.  wholesale price = $376, selling price = $752

d.  wholesale price = $26,000, selling price = $26,728

Find the sale price for the given selling price and discount rate.

a.  selling price = $70, discount rate = 25%

b.  selling price = $145, discount rate = 32%

c.  selling price = $376, discount rate = 8.5%

d.  selling price = $26,000, discount rate = 2.15%

Find the selling price for the given sale price and discount rate.

a.  sale price = $108, discount rate = 28%

b.  sale price = $65, discount rate = 50%

c.  sale price = $1,110, discount rate = 7.5%

d.  sale price = $24,175, discount rate = 3.3%

Find the disount rate for the given selling price and sale price.

a.  selling price = $100, sale price = $67.50

b.  selling price = $180, sale price = $154.80

c.  selling price = $1,600, sale price = $1,192

d.  selling price = $60,000, sale price = $56,100

In the year 2000, the average computer system decreased 20% in price from the previous year. If the average computer system price in the year 2000 was $1280, what was the average price in the previous year?

The number of flights out of a small airport increased from 1200 flights to 1500 flights during a one-year period. What is the percent increase in flights from this airport?

Find the simple interest earned, and corresponding balance, on the following bank deposits.

a.  principal = $8,000, rate = 6.2%, time = 1.5 years

b.  principal = $10,000, rate = 5.75%, time = 6 months

c.  principal = $25,000, rate = 7.5%, time = 12 years

d.  principal = $7,500, rate = 5.4%, time = 3 months

e.  principal = $1,200, rate = 19.8%, time = 100 days

In each of the following simple interest problems, three of the four quantities are given. Find the missing quantity. Round all answers to two decimal places.

a.  interest = $745, principal = $550, time = 12.3 years

b.  interest = $1250, principal = $600, rate = 11.3%

c.  interest = $869, rate = 6.3%, time = 8 months

d.  interest = $65,000, rate = 7.2%, time = 1 year

Calculate the amount owed and the monthly payment for the following simple interest loans.

a.  principal = $4,200, rate = 12.5%, time = 2 years

b.  principal = $7,500, rate = 10%, time = 9 months

c.  principal = $10,000, rate = 14.8%, time = 6 years

d.  principal = $25,000, rate = 9.9%, time = 5 1/2 years

You borrow $24,000 for a car loan, which charges an 11.9% simple interest rate. Compare the total amount owed and monthly payment for a 4 year loan and for a 6 year loan.

You borrow $15,000 from your parents to make a down payment on a house, and agree to a 8.5% simple interest loan. You can only afford to make payments of $300 per month, however. What term (length of time) should your car loan be?

Compute the balance and interest earned for each of the accounts, compounded annually.

a.  principal = $12,500, rate = 6.5%, time = 5years

b.  principal = $5,000, rate = 10.4%, time = 20years

c.  principal = $1,250, rate = 7.45%, time = 10years

d.  principal = $25,000, rate = 8.6%, time = 15years

Compute the balance and interest earned for each of the given accounts.

a.  principal = $4,000, rate = 6.8%, time = 6 years, compounded monthly

b.  principal = $10,000, rate = 11.5%, time = 10 years, compounded quarterly

c.  principal = $22,400, rate = 8.3%, time = 4 years, compounded daily

d.  principal = $15,000, rate = 9.8%, time = 8 years, compounded semiannually

Calculate the future price of the item with the given inflation/deflation rate.

a.  gasoline: price = $3.65/gallon, rate = 6.8%, time = 25 years

b.  college tuition: price = $1300/semester, rate = 13.5%, time = 15 years

c.  stock price: price = $74/share, rate = 21.3%, time = 5 years

d.  computer: price = $1350, rate = −8.6%, time = 12 years

Find the present value of the following future amounts.

a.  treasury bill: value = $15,000, rate = 5.6%, time = 4 years, compounded daily

b.  zero-coupon bond: value = $20,000, rate = 6.1%, time = 10 years, compounded monthly

c.  retirement plan: value = $800,000, rate = 8.4%, time = 30 years, compounded quarterly

d.  timber land: value = $12.8 million, rate = 4.6%, time = 45 years, compounded yearly

Find the future value of each annuity for the given length of time. Assume the annuity is compounded as the payments are made.

a.  retirement fund: payment = $250/month, rate = 8%, time = 30 years

b.  life insurance: payment = $400/quarter, rate = 6.4%, time = 25 years

c.  IRA: payment = $2000/year, rate = 7.35%, time = 40 years

d.  401(k): payment = $750/month, rate = 7.8%, time = 35 years

Find the present value of each annuity for the given length of time. Assume the annuity is compounded as the payments are made.

a.  retirement fund: payment = $2500/month, rate = 8.2%, time = 20 years

b.  life insurance: payment = $1000/quarter, rate = 6.2%, time = 25 years

c.  IRA: payment = $8000/year, rate = 7.35%, time = 10 years 

d.  401(k): payment = $900/month, rate = 7.85%, time = 15 years

You have just had a newborn child, and want to save for her college education. You estimate that you will need to pay college tuition of $25,000 per year for four years starting in 18 years. If you start saving $150 per month in an account which pays 8.5% interest, will you have enough money to pay for her college tuition? What is the smallest amount you should save per month to have enough money to pay for her college education? 

Find the periodic payment and total interest paid on the following loans.

a.  car loan: principal = $26,000, interest rate = 9%, term = 5 years, monthly payments

b.  home loan: principal = $290,000, interest rate = 6.5%, term = 15 years, monthly payments

c.  consumer loan: principal = $15,000, interest rate = 8.5%, term = 5 years, quarterly payments

d.  home loan: principal = $215,000, interest rate = 6.75%, term = 30 years, monthly payments

You borrow $215,000 for the purchase of a house. The bank offers a 6.25% interest loan with monthly payments. Compute the monthly payment and total

interest paid for the following terms.

a.  30 year

b.  25 year

c.  20 year

d.  15 year

You borrow $190,000 for the purchase of a home. The mortgage company is offering 6.7% interest on a 30 year loan, with monthly payments.

a.  Find the amount of the monthly payment for the 30 year loan.

b.  Find the total interest paid on the 30 year loan.

c.  You feel you can afford to make $1550/month payments. To the closest year, how long will it take to pay off the loan?

You borrow $200,000 for the purchase of a house. The bank offers a 30 year loan with monthly payments. Compute the monthly payment and total interest paid for the following interest rates.

a.  8.0%

b.  7.25%

c.  6.5%

d.  5.75%

You wish to purchase a $120,000 condo. The mortgage company requires you to make a 10% down payment. The remainder can be borrowed at a 3/4 point loan origination fee (which is added onto the amount borrowed). The loan company offers two loans:

A: 8.2% interest with 1/2 point (added into the loan)

B: 7.9% interest with 1/2 points (added into the loan)

Compute the monthly payment and total interest paid for both a 15 year and a 30 year mortgage, in order to choose the best loan. Display your final answers in a table.