Simple interest 1. If you take out a 45-day loan for $8500 at a rate of 8.125% per year, where simple interest is used, how much interest will you owe at repayment? (Use a banker's year.) (a) $39.20 (b) $76.12 (c) $86.33 (d) $89.20 (e) $84.65
2. If you ta
1. Use Table 8.4 to calculate the monthly payment on a $284,000 mortgage that has a 25-year term and an annual interest rate of 8.5%. (a) $805.00 (b) $2286.20 (c) $603.50 (d) $2840.00 (e) $8050.00 2. The monthly payment on a $275,000 mortgage is $2213.75.
Percent change 1. A pair of shoes that regularly costs $75 is on sale for $41.25. What is the percent discount? (a) 35% (b) 40% (c) 45% (d) 82% (e) 55%
2. A pair of shoes that regularly costs $155 is on sale for $103.85. What is the percent discount? (a)
CMPSCI 105 Midterm Exam Solution Spring 2007 Professor William T. Verts
CMPSCI 105 Midterm Exam Solution Spring 2007 March 30, 2007 Professor William T. Verts
CMPSCI 105 Midterm Exam Solution Spring 2007 Professor William T. Verts
GENERAL KNOWLEDGE
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