Ch13 – 1) Find the final accumulated amount paid if the interest is compounded annually on $6230 at 11%

Ch13

1) Find the final accumulated amount paid
if the interest is compounded annually on $6230 at 11% for 12 years.

(Format: Whole number, such as 20649)

2) Find the total interest paid if the
interest is compounded annually on $6230 at 11% for 12 years.

(Format: Whole number, such as 20649)

3) Find the new balance, assuming that the
bank charges 1 1/2 % per month on the unpaid
balance on a note that had a $300 previous balance, a $190 payment was made,
and new purchases of $25.

(Format: Round to the nearest whole dollar, such as 74)

4) Bill Seeker bought a boat costing $8500
with $1500 down, the balance plus add-on interest to
be paid in 36 monthly installments. If the add-on interest rate was 18%, find
the total interest charged.

(Format: Whole number, such as 2064)

5) Bill Seeker bought a boat costing $8500
with $1500 down, the balance plus add-on interest to be paid in 36 monthly
installments. If the add-on interest rate was 18%, find the monthly payment, to
the nearest dollar. (Format: Whole number, such as 2064)

6) Find the APR: Amount Financed $3500; Interest Charged $ 675;
Number of Payments 24

(Format: Whole number with decimal to the tenth place, such as 206.4)

7) Yu-Feng Liang bought a used car for
$6500. He made a down payment of $1000 and paid off the balance in 48 monthly
payments of $159 each. What was the finance charge?

(Format: Whole number, such as 2064)

8) An investor buys 100 shares of NWS-A at
the Last Trade price, pays a $50 commission on the purchase, and sells the 100
shares a year later for $18.40 per share with a 2% commission on the sale. Use
the chart on page 937 of your text (problem 2) to determine: the total return
for the year.

(Format: Round to the nearest whole number, such as 14)