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During the annual black friday sale, the OLX sold a pair of ski boots regularly priced at $245.00, at a discount of 40% . The boots cost $96.00 and expenses are 26% of regular selling price. For how much were the ski boots sold?
Due: March 5,2021 @ 12:00pmBusiness Mathematics Kwantlen Polytechnic University Quiz #3 Name: _______________ Student ID: ___________ Mark: __/10
Note: 1. Answer all questions in space provided.
2. Show your work to receive full marks.
3. Be sure to upload your completed work as Word Document;
4. No other format will be accepted (incl. .pages).
1. Sally invested $1,750 into an RRSP that earned interest at 5% compounded semiannually for eight years.
a. Determine the balance of the account at the end of the period? _____________
b. How much interest is earned? ______________
c. What is the effective rate? _____________
2. Suppose an investment of $800 earned interest of $320 at 6% compounded monthly. For how many years was the money invested? ___________________
3. Mark made ordinary annuity payments of $15 per month for 16 years, earning 4.5% compounded monthly.
a. How much will be the accumulated value (future value) after 16 years? __________
b. How much of the accumulated value is interest? _______________
4. A loan was repaid over seven years by end-of-month payments of $450. If interest was 12% compounded monthly, how much interest was paid? _______________
5. What is the size of the monthly deposits that will accumulate to $67,200 after eight years at 6.5% compounded semiannually? _________________
The End
Find the future value. (Use the Table 12.1.) (Do not round intermediate calculations. Round the "FV factor" to 4 decimal places and final answer to the nearest cent.)
Present value: $7,692.96
Length of time: 7 times
Rate: 12%
Compounded: Quarterly
Period used: 28
Rate used: 3%
FV factor used: ______________ ?
Future value_________________ ?
Find the maturity value (S) of an annuity where R is $200 , I=0.10 and n =20 compounded annually
Nixon Company reported 10% bonds payable with carrying amount of P5, 700,000 on
January 1, 2020. The bonds had a face amount of P6, 000,000 and were issued to yield
12%.
The interest method of amortization is used. Interest was paid on January 1 and July 1
of each year.
On July 1, 2020, the entity retired the bonds at 102. The interest payment on July 1,
2020 was made as scheduled.
1. What is the carrying amount of the bonds payable on July 1, 2020?
A. 5,700,000
B. 5,742,000
C. 6,000,000
D. 5,658,000
Cameron invests $10,000 in an account that pays 5.3% per year. How much will he have if it is compounded weekly for 15 years?
Joe invests $2500 in an account that pays 4.75% per year. How much will he have if it is compounded monthly for 10 years?
A small plant manufactures riding lawn mowers. The plant has fixed costs of GHC48,000 per day and a variable cost of GHC1,400 per unit produced. The mowers are sold for GHC1,800 each. The cost and revenue functions are in that order and , where is the total number of mowers produced and sold each day.How many units must be manufactured and sold each day for the company to break even?
KOFI electronics bought a shipment of TVs at a net price of $477.36 each, after discounts of 15%, 10%, and 4%. What is the list price?
' Part 'A' Trinh is starting a savings plan at the bank. The bank will automatically transfer any amount she wants from her checking account into a savings account. After the first month, the amount transferred each month will be the first month plus '$1250. Write an equation to model this situation. Clearly identify the variables you are using.
Part B Trinh wants to save '$25.' total after 15 months to put towards a vacation. Use the equation you wrote in Part A to determine how much money she needs to transfer the first month to achieve this goal. Show your work or explain how you found your answer.
