1. What is the nominal annual rate of interest compounded semi-annually on a lease valued at $33.440.00, if payments of $500.00 are made at the beginning of every month for 6 years? The nominal annual rate of interest is % (Round to two decimal places as needed.) 2. Alliance Industries sets aside $5300.00 at the beginning of every three months in a fund to replace equipment. If interest is 4% compounded annually, how much will be in the fund after 10 years? The fund will be worth $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 3. How much would you have to pay into an account at the beginning of every six months to accumulate $11,400.00 in 12 years, if interest is 12% compounded annually? The payments would have to be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 4. Find the length of the term for the following annuity due. Future Present Periodic Value Value Payment $1,600 The length of the term for the annuity is $250 Payment Interest Conversion Period Rate Period 6 months 8% monthly year(s) and month(s). (Type whole numbers.) 1. John wants to earn money this summer by maintaining gardens and lawns. He estimates variable costs for each job of $3.03 for supplies. To be competitive, he can charge $18.00 per job, and would be able to maintain at least 74 jobs. If John wanted to make $500, what is the most he could pay for equipment? Use break-even analysis to determine your result In order to make $500, the most that could be paid for equipment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 2. * A daycare charges $49 per day per child. Fixed expenses include $232 per day for wages and $568 per day for space rental and insurance. The daycare can take in up to 25 children each day and is expected to be full. (a) To break even, what is the most that can be spent on supplies per child per day? (b) To achieve a profit of $275 per day, what is the amount that can be spent on supplies per child per day? (a) To break even the most that can be spent on supplies is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 3. MacDonald Elementary School needs to raise money for new playground equipment. The students will be selling chocolate bars for $3.81 each. The chocolate bars will be purchased for $1.41 each. The school budgets $16.00 for flyers to be distributed to the houses in the school neighbourhood (a) How many chocolate bars must they sell to break even? (b) How much money will they make if they achieve their target of selling 2000 chocolate bars. (a) The school must sell chocolate bars to break even. (Round up to the nearest unit) (b) The school will make s if they achieve their target of selling 2000 chocolate bars. TVnA an integer or a decimal
