1.Your truck loan is $48,000 with an APR of 6% compounded annually for 7 years. The compound interest formula for this loan is A=$48,000(1.06)7. If this loan was changed to be compounded monthly, what would the new annual percentage rate need to be for you to spend the same amount of money?

2.How many different 6-player starting squads can be formed from a volleyball team of 15 players?

3.A 64-ounce bottle of laundry soap sells for $3.79; a 38-ounce bottle costs $1.90. Which is the better buy?

4.You go to the bank and open up a savings account. Your account earns 3% interest. If you want to have $1500 in 5 years, how much should you deposit now?

5.Juan had $21100 and chose to split the money into two different mutual funds. During the first year, Fund A earned 5% interest and Fund B earned 3% interest. If he received a total of $829 in interest, how much had he invested into each account?

6.If $10,000 is invested in an account earning 4.5% interest compounded continuously, determine how long it will take to money to grow to $15,000.

7.David had an outstanding balance on his credit card account of $469.86 for purchases he made. Find the finance charge if it was 2.5% per month. Round answer to the nearest cent.

8.Jeff is traveling from St. Paul to Milwaukee. He estimates the distance is about 330 miles. If his car averages 22 miles per gallon, how many gallons of gas will Jeff need to make the trip?

9.A bank offers a 25 year mortgage at 10.5% for a monthly mortgage payment of $9.44 per $1,000 borrowed. What is the monthly mortgage payment on a mortgage of $55,750?

10.The monthly payments on Jerry and Joanne's mortgage are $565.60. Their mortgage is $95,000. How much will they pay in interest if they have a 30-year mortgage?