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test chapter 10 (sects 5-10)

# test chapter 10 (sects 5-10) - and paid a commission of...

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Math Money Management Test chapter 10 (sections 5 - 10) Name ________________________________ You may use your book for this test, but not each other !! Good luck! 1) Name 3 different types of investments discussed in the chapter and briefly describe each type. Use the table below to answer questions 2 & 3. Amount per \$1.00 invested, daily compounding ?? 2) Alicia Green purchased a 2.5 year CD for \$15,000. The certificate earns interest at a rate of 7.25% compounded daily. a) What is the certificate worth at maturity? b) How much interest was earned? 3) You invest \$1500 in a CD that earns 6% interest. What is the annual yield on a 1-year CD? (Show steps!!) 4) Mike Wrigley purchased 350 shares of Zebtech stock at \$21 per share. If he paid a 2% commission: a) What was the cost of the stock alone? b) What was the total amount he paid? 5) Mrs. Engel purchased 120 shares of Southern Oil. She paid a total of \$8700. She sold the stock for \$78 per share

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Unformatted text preview: and paid a commission of \$360. a) What was the amount of the sale? b) What was the net sale (after commissions)? c) What was the net profit or loss? 6) Laura Long recently SOLD 45 shares of stock for \$44.25 per share. She paid a 3% sales commission. When she bought the stock, she paid \$41.50 per share and paid a 3.6% commission. a) what was the cost of the stock (without commission)? b) what was the total paid? c) what was the amount of the sale (w/out commission)? d) what was the net sale? e) what was the profit or loss from the sale? 7) Ralph G. purchases a \$9500 bond at 88.25. It pays 6% annual interest. a) what is the cost of the bond? b) What is the annual interest earned? c) what is the annual yield? 8) You use some birthday money to buy a \$2500 bond at 82.875. It pays an annual interest of 8.75%. a) what is the cost of the bond? b) What is the annual interest earned? c) what is the annual yield?...
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