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Find the principal invested if the simple interest earned in 5 years by an investment at 5% per annum is $100

Danny just answered a help-wanted ad. The ad states that the job pays $27 K annually. What would Danny’s monthly salary be if he gets the job?

Joy is considering taking AP classes or dual credit at the community college where she would receive an Associate’s Degree. Her parents pay no taxes and she is concerned with the expense of college. The classes she would take at the Community College would qualify her as a full-time student and would cost $106. If she took the AP class, she would qualify for free classes, but she needs to pay $92 for the national AP exam. Which education program should she use to reduce the cost of her education? Why? How much would she save?

Anna’s bank gives her a loan with a stated interest rate of 10.22%. How much greater will Anna’s effective interest rate be if the interest is compounded daily, rather than compounded monthly?

25200.00 needs to be divided in 43.2 shares with 12.5 getting 40% of the money and 31.2 people getting 60%. What is the split?

1. Repaying Credit Card Debt.

Your credit card has a balance of $12,300. You decide to quit using your credit

card. Your interest rate (NAR, also called APR) is

19.7% compounded monthly. Show all work needed to answer

the following questions. (In all subsequent questions, "APR" means the same as "NAR".)

a. To pay off the credit card in 3 years, what

must your monthly payments be? How much will you pay in interest?

b. Suppose you decide that you can only afford to pay $300 per month on your debt. How long will it take to pay off your credit card debt?

Your credit card has a balance of $12,300. You decide to quit using your credit

card. Your interest rate (NAR, also called APR) is

19.7% compounded monthly. Show all work needed to answer

the following questions. (In all subsequent questions, "APR" means the same as "NAR".)

a. To pay off the credit card in 3 years, what

must your monthly payments be? How much will you pay in interest?

b. Suppose you decide that you can only afford to pay $300 per month on your debt. How long will it take to pay off your credit card debt?

A perpentuity due makes annual payments which begins at 100for first year then increses at 6% through the 10th year and then remain level thereafter. Calculate the present value of this perpentuity if the annual effective rate of interest is equal to 8%.

Shaniqua brings home 225$ per week working 25 hours. She is able to save 25$ of her earnings each week. Shaniqua wants to have 600$ at the end of 15 weeks. She is allowed to work up to 30 hours per week if she wants. She can save all the money earned working extra hours. Hoe many weeks will it take for Shaniqua to meet her goal

The following table shows the closing prices and change of 12 stocks.

Tech Stocks Close Change

AAPL (Apple) $113.40 −1.81

ADBE (Adobe Systems) $84.66 1.34

EBAY (eBay) $25.61 −0.31

MSFT (Microsoft) $3.90 −0.21

S (Sprint) $4.40 0.02

WIFI (Boingo Wireless) $8.51 0.56

Non-Tech Stocks

ANF (Abercrombie & Fitch) $21.81 −0.02

B (Boeing) $133.99 −2.03

F (Ford Motor Co.) $13.91 −0.40

GE (General Electric) $25.10 0.01

GIS (General Mills) $57.12 0.33

JNJ (Johnson & Johnson) $93.26 0.13

Swift advised you to purchase a collection of two tech stocks and two non-tech stocks, all chosen at random from those listed in the table. You were to sell all the stocks at the end of the trading day.

(b) How many of the collections in part (a) consist entirely of stocks that declined in value by the end of the day?

(c) Using the answers to parts (a) and (b), what would you say your chances were of choosing a collection consisting entirely of stocks that declined in value by the end of the day?

Tech Stocks Close Change

AAPL (Apple) $113.40 −1.81

ADBE (Adobe Systems) $84.66 1.34

EBAY (eBay) $25.61 −0.31

MSFT (Microsoft) $3.90 −0.21

S (Sprint) $4.40 0.02

WIFI (Boingo Wireless) $8.51 0.56

Non-Tech Stocks

ANF (Abercrombie & Fitch) $21.81 −0.02

B (Boeing) $133.99 −2.03

F (Ford Motor Co.) $13.91 −0.40

GE (General Electric) $25.10 0.01

GIS (General Mills) $57.12 0.33

JNJ (Johnson & Johnson) $93.26 0.13

Swift advised you to purchase a collection of two tech stocks and two non-tech stocks, all chosen at random from those listed in the table. You were to sell all the stocks at the end of the trading day.

(b) How many of the collections in part (a) consist entirely of stocks that declined in value by the end of the day?

(c) Using the answers to parts (a) and (b), what would you say your chances were of choosing a collection consisting entirely of stocks that declined in value by the end of the day?

The "Dogs of the Dow" are the stocks listed on the Dow with the highest dividend yield. The following table shows the top 10 stocks of the "Dogs of the Dow" list for 2015, based on their performance the preceding year.

Symbol Company Price ($) Yield

T AT&T 33.59 5.48%

VZ Verizon 46.78 4.70%

CVX Chevron 112.18 3.82%

MCD McDonald's 93.70 3.63%

PFE Pfizer 31.15 3.60%

GE General

Electric 25.27 3.48%

MRK Merck 56.79 3.17%

CAT Caterpillar 91.53 3.06%

XOM ExxonMobil 92.45 2.99%

KO Coca-Cola 42.22 2.89%

You decide to make a small portfolio consisting of a collection of 5 of the top 10 Dogs of the Dow.

How many of these portfolios contain at least four stocks with yields above 3.5%?

Symbol Company Price ($) Yield

T AT&T 33.59 5.48%

VZ Verizon 46.78 4.70%

CVX Chevron 112.18 3.82%

MCD McDonald's 93.70 3.63%

PFE Pfizer 31.15 3.60%

GE General

Electric 25.27 3.48%

MRK Merck 56.79 3.17%

CAT Caterpillar 91.53 3.06%

XOM ExxonMobil 92.45 2.99%

KO Coca-Cola 42.22 2.89%

You decide to make a small portfolio consisting of a collection of 5 of the top 10 Dogs of the Dow.

How many of these portfolios contain at least four stocks with yields above 3.5%?