Math Apps 8.2-8.3 Review
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Last updated almost 5 years ago
22 questions
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Ace Auto Parts borrowed $6,000 at 6% interest for 5 years to enlarge its display area. Find the simple interest.
Ace Auto Parts borrowed $6,000 at 6% interest for 5 years to enlarge its display area. Find the simple interest.
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Find the future value of the loan in #6.
Find the future value of the loan in #6.
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Sam's Sound Shack borrowed $13,450 at 8% interest for 15 years to remodel its existing store. Find the simple interest.
Sam's Sound Shack borrowed $13,450 at 8% interest for 15 years to remodel its existing store. Find the simple interest.
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Find the future value of the loan in #9.
Find the future value of the loan in #9.
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Julie earned $60.48 in simple interest on a savings account balance of $4,320 over a 12-month period. Find the rate of interest.
Julie earned $60.48 in simple interest on a savings account balance of $4,320 over a 12-month period. Find the rate of interest.
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John has the opportunity to buy a new boat. He has to borrow $5,300 at 11% simple interest for 36 months. Find the monthly payment.
John has the opportunity to buy a new boat. He has to borrow $5,300 at 11% simple interest for 36 months. Find the monthly payment.
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Find the simple interest on a $2,300 loan at 5% for 80 days. Use the Banker's Rule.
Find the simple interest on a $2,300 loan at 5% for 80 days. Use the Banker's Rule.
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David obtained a 3-year, $6,000 discounted loan at 6%. Find the amount of the discount.
David obtained a 3-year, $6,000 discounted loan at 6%. Find the amount of the discount.
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How much money did David actually receive in #13?
How much money did David actually receive in #13?
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What is the compound interest?
What is the compound interest?
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What is the future value?
What is the future value?
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What is the compound interest?
What is the compound interest?
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What is the future value?
What is the future value?
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What is the compound interest?
What is the compound interest?
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What is the future value?
What is the future value?
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Find the effective rate when the stated rate is 12% and the interest is compounded quarterly. Round to the nearest hundredth of a percent.
Find the effective rate when the stated rate is 12% and the interest is compounded quarterly. Round to the nearest hundredth of a percent.
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Mike and Marie plan to take an African vacation in 3 years. In order to save money for the trip, they purchase an annuity that pays 3% interest compounded annually. Find the future value of the annuity in 3 years if their yearly payment is $2600.
Mike and Marie plan to take an African vacation in 3 years. In order to save money for the trip, they purchase an annuity that pays 3% interest compounded annually. Find the future value of the annuity in 3 years if their yearly payment is $2600.