business math easy questions 2

26- Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.) Invoice date: Sep 8 Terms: 3/6 EOM

Select one:

a. Discount date: Oct 6; net payment date: Oct 26

b. Discount date: Sept 14; net payment date: Oct 6

c. Discount date: Sept 14; net payment date: Oct 30

d. Discount date: Sept 6; net payment date: Oct 31

27-Find the ordinary interest to the nearest cent. $3380 at 7% for 266 days

Select one:

a. $3554.82

b. $174.16

c. $174.82

d. $236.60

28-Find the unpaid balance at the end of the month for the account.  Unpaid  Balance at Finance month beginning charge purchases returns payment Jan $533.30 $127.86 $42.14 $95.00 Feb $192.93 $110.00 Finance rate is 1.7% on the unpaid balance. Find unpaid balance at the end of Feb.

Select one:

a. $533.09

b. $625.08

c. $432.15

d. $667.22

29-Find the finance charge on the revolving charge account. Assume interest is calculated on the unpaid balance of the account. Round to the nearest cent. Unpaid Balance Monthly Interest Rate $493.80 1(7/8)%

Select one:

a. $9.26

b. $10.37

c. $8.64

d. $11.11

30-Solve for the amount of discount and amount due. Invoice amt: $293.41 Invoice date: Sept 13 Terms: 3/11 EOM Goods rec'd: Sept 16 Date paid: Oct 9

Select one:

a. Amount of discount: $0; amount due: $293.41

b. Amount of discount: $8.50; amount due: $282.41

c. Amount of discount: $32.28; amount due: $261.13

d. Amount of discount: $8.80; amount due: $284.61

31- Solve the problem. Round dollars to the nearest cent and rates to the nearest tenth of a percent. The cost of an item is $259. For a special year-end sale the price is marked down 20%. Find the selling price of the item.

Select one:

a. $207.20

b. $215.83

c. $51.80

d. $310.80

32- Provide an appropriate response. Find the amount by which the interest compounded annually is larger than the simple interest. Round to the nearest cent. Use the formula M = P(1 + i)n to find the compound amount. Principal: $710 Rate: 6% Years: 11

Select one:

a. $879.19

b. $169.19

c. $135.50

d. $410.59

33- Find the maturity value of the simple interest note. Face Value: $3618  Length of Loan: 281 days Rate: 12%

Select one:

a. $3956.89

b. $3953.43

c. $3961.66

d. $3951.05

34- Find the principal. Round to the nearest cent. Rate: 10% Time: 60 days Interest: $69.25

Select one:

a. $4155.00

b. $6925.00

c. $415.50

d. $4205.00

35-Find the requested value using the given stock table.   Change from the previous day for CommSource (CSC)

Select one:

a. $4.81

b. $148.20

c. -$0.05

d. $0.23

36- Find the interest and maturity value for the loan. Round to the nearest cent. $4252 at 6% for 10 months

Select one:

a. $233.86; $4485.86

b. $214.39; $4466.39

c. $191.34; $4443.34

d. $212.60; $4464.60

37-Find the cost for the stock purchase. Ignore any broker's fee and assume that the purchase was at the close price for the day. Then find the annual dividend that would have been paid for the year on that number of shares.  421 shares of Coleman (CLN)

Select one:

a. Cost $16,208.50; dividend $0

b. Cost $15,998.00; dividend $210.50

c. Cost $15,998.00; dividend $0

d. Cost $16,208.50; dividend $210.50

38-Solve the problem. Bed 'n' Board Linen took inventory on the first of each month for the full year. The sum of the inventories was $674.769. On December 31, inventory was taken again and amounted to . Find the average inventory for the year.

Select one:

a. $47,796.23

b. $56,014.38

c. $51,779.25

d. $60,682.25

39- Solve the problem. On June 1, the unpaid balance in an account was $177. On June 13, a payment of $75 was made. The finance charge rate was 1.5% per month of the average daily balance. Find the new balance at the end of June.

Select one:

a. $121.80

b. $103.98

c. $103.93

d. $103.50

40-Find the PE ratio. Round to the nearest whole number. Stock: Crown Current Price per Share: $32.59 Annual Net Earnings per Share: $9.06

Select one:

a. 1

b. 5

c. 4

d. 40

41-Find the current yield. Round to the nearest tenth of a percent. You invested $7625 in 125 shares of stock. During the following year, the company paid dividends of $2.75 per share.

Select one:

a. 0.5%

b. 22.2%

c. 2.2%

d. 4.5%

42- Find the compound amount for the certificate of deposit. Assume daily compounding using the following table. Round to the nearest cent. Amount: $2700 Rate: 3% Years: 4

Select one:

a. $2782.22

b. $3136.93

c. $2924.87

d. $3044.23

43- Find the discount period. Loan made: April 24 Length of loan: 180 days Date of discount: July 18

Select one:

a. 84 days

b. 95 days

c. 85 days

d. 96 days

44- Find principal to the nearest dollar, rate to the nearest tenth of a percent, or time to the nearest day. Use banker's interest. Hargray Telephone earned 150.000 interest on a $20,000 deposit in an account paying 3%. Find the number of days that the funds were on deposit.

Select one:

a. 25 days

b. 90 days

c. 91 days

d. 135 days

45- Find the exact interest to the nearest cent. $3900 at 10% for 79 days

Select one:

a. $84.41

b. $8.56

c. $8.44

d. $85.58

46- Solve the problem. Tom O'Donnell bought 10 Public Communications (PBC) bonds maturing in 2025. According to the bond table, the last price is listed as 84,875 If the sales commission is $1 per bond, what is the total purchase price?

Select one:

a. $8477.50

b. $9151.25

c. $8487.50

d. $8497.50

47- First, find the initial proceeds of the simple discount note. Then, find the discount period, the discount, and proceeds after discounting. Date Loan Was Made: Jan. 19 Maturity Value: $9000 Length of Loan: 90 days Rate: 10% Date of Discount: Mar. 9 Discount %: 9%

Select one:

a. Initial Proceeds: $8775.00; Discount Period: 41 days; Discount: $92.25; Proceeds After Discount: $17,907.75

b. Initial Proceeds: $8775.00; Discount Period: 41 days; Discount: $184.50; Proceeds After Discount: $17,907.75

c. Initial Proceeds: $8775.00; Discount Period: 60 days; Discount: $184.50; Proceeds After Discount: $8840.25

d. Initial Proceeds: $8775.00; Discount Period: 41 days; Discount: $92.25; Proceeds After Discount: $8907.75

48- Find the finance charge and total installment cost of the loan. Round to the nearest cent. Amount financed: $165 Down payment: $20 Cash price: $185 Number of payments: 6 Amount of payment: $28.59

Select one:

a. $12.54; $211.54

b. $171.54; $211.54

c. $6.54; $191.54

d. $13.46; $191.54

49- Find the approximate annual percentage rate using the approximate annual percentage rate formula. Round to the nearest tenth of a percent. Amount financed: $1200 Finance charge: $210 Number of monthly payments: 36

Select one:

a. 25.2%

b. 8.6%

c. 17.5%

d. 11.4%

50- Solve the problem. Claire Hummell bought 4 Hecht Company (HCO) bonds maturing in 2032. According to the bond table, the last price is listed as 98.375. With a sales commission of $1 per bond, find the total purchase price.

Select one:

a. $3931.00

b. $3935.00

c. $3939.00

d. $3016.25