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22) Find the discount rate when the original price

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

Solve.

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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