1. The scrap value of a machine at the end of its useful life is given by S(n)=C(1r)n, where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the following machine. Original cost, $47,000; life, 6 years; annual rate of value lost, 14%

2. Find the present value of the given future amount. Assume 360 days in a year.$164,758 for 181 days at 9.2% simple interest.

3. True or False? Log x - Log y = log x/ log y

4. Celeste Nossiter borrowed $5000 from her father to buy a used car. She repaid him after 10 months, at an annual interest rate of 6.1%. Find the total amount she repaid.

5. Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period. $22,276

to be accumulated in 5 years; quarterly payments of $1000.

6. George deposits $10,000 into a Well's Fargo account that is offering an introductory special interest rate of 1.2% for the first half of the first year compounded monthly. He wants to know his Future Value by the end of the special. What are the values for: i, n, and PV?

7. Find the face value of the zero-coupon bond 20-year bond a 3.4%; price $.