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22) Find the discount rate when the original price
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# Question : 22) Find the discount rate when the original price : 2163404

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21) A \$3300 table is on sale at 10% off. Find the sale price.

A) \$2970.00

B) \$33.00

C) \$3267.00

D) \$330.00

22) Find the discount rate when the original price is \$123.00 and the amount of the discount is \$97.20.

A) 60%

B) 1%

C) 4%

D) 79%

23) Find the original price when the discount rate is 60% and the amount of discount is \$519.00.

A) \$31,140.00

B) \$311.40

C) \$8.65

D) \$865.00

24) A diamond necklace normally sells for \$31,512. If it is first discounted by 40% and then taxed at 6.5%, find the total price.

A) \$20,136.17

B) \$20,141.17

C) \$20,146.17

D) \$20,236.17

25) Find the simple interest when: Principal = \$500, Rate = 3%, Time = 4 years

A) \$15.00

B) \$600.00

C) \$60.00

D) \$150.00

26) Find the simple interest when: Principal = \$520, Rate = 10.5%, Time = 9 years

A) \$491.40

B) \$54.60

C) \$4914.00

D) \$546.00

27) Find the simple interest when: Principal = \$14,100, Rate = 16%, Time = 5(1/2) years

A) \$124,080.00

B) \$12,408.00

C) \$2256.00

D) \$22,560.00

28) Find the simple interest when: Principal = \$1008, Rate = 7%, Time = 8 months

A) \$564.48

B) \$5644.80

C) \$70.56

D) \$47.04

29) Lucy borrows \$3000 and agrees to pay it back in 7 years. If the simple interest rate is 11%, find the total amount she pays back.

A) \$23,100

B) \$26,100

C) \$2310

D) \$5310

30) A company borrows \$64,000 for 6 years at a simple interest of 7.5% to buy cabinets. Find the total amount paid on the loan.

A) \$66,880.00

B) \$92,800.00

C) \$288,000.00

D) \$28,800.00

31) \$165,000 is borrowed to buy a house. If the simple interest rate on the 20-year loan is 13.25%, find the total amount paid on the loan.

A) \$437,250.00

B) \$4,372,500.00

C) \$208,725.00

D) \$602,250.00

32) A money market fund advertises a simple interest rate of 6%. Find the total amount received on an investment of \$9000 for 6 months.

A) \$270.00

B) \$12,240.00

C) \$11,700.00

D) \$9270.00

Find the total amount in the compound interest account.

33) \$5070 is compounded quarterly at a rate of 10% for 5 years. (The compound interest factor is 1.63862.)

A) \$41,539.02

B) \$830.78

C) \$4153.90

D) \$8307.80

34) \$12,000 is compounded quarterly at a rate of 14% for 20 years. (The compound interest factor is 15.67574.)

A) \$188,108.88

B) \$105,340.97

C) \$26,335.24

D) \$134,400.00

35) \$2400 is compounded daily at a rate of 6% for 20 years. (The compound interest factor is 3.31979.)

A) \$5280.00

B) \$7967.50

C) \$9561.00

D) \$159,349.92

Find the total amount of compound interest earned.

36) \$8590 is compounded daily at a rate of 5% for 15 years. (The compound interest factor is 2.11689.)

A) \$23,622.50

B) \$32,212.50

C) \$9594.09

D) \$18,184.09

37) \$5000 is compounded annually at a rate of 11% for 10 years. (The compound interest factor is 2.83942.)

A) \$5500.00

B) \$9197.10

C) \$14,197.10

D) \$1561.68

38) \$2340 is compounded semiannually at a rate of 8% for 15 years. (The compound interest factor is 3.2434.)

A) \$5249.56

B) \$9107.47

C) \$2808.00

D) \$7589.56

Solve. Round to the nearest cent, if necessary.

39) A college student borrows \$400 for 8 months to pay for a semester of school. If the interest is \$16, find the monthly payment.

A) \$52.00

B) \$2.00

C) \$26.00

D) \$50.00

40) Oliver borrows \$2400 for 5 months. If the interest is \$72, find his monthly payment.

A) \$14.40

B) \$494.40

C) \$480.00

D) \$247.20

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