2. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 12.1.025. As part of your retirement plan, you have decided to deposit $6,000 at the beginning of each year into an account paying 5% interest compounded annually. (Round your answers to the nearest cent.) (a) How much (in $) would the account be worth after 10 years? $ 9773.38 (b) How much (in $) would the account be worth after 20 years? $ 15919.79 (c) When you retire in 30 years, what will be the total worth (in $) of the account? $ 25931.65 (d) If you found a bank that paid 6% interest compounded annually rather than 5%, how much (in $) would you have in the account after 30 years? $ 34460.95 X (e) Use the future value of an annuity due formula to calculate how much (in $) you would have in the account after 30 years if the bank in part (d) switched from annual compounding to monthly compounding and you deposited $500 at the beginning of each month instead of $6,000 at the beginning of each year. $418564.44 X Need Help? Read It4. [-/0.57 Points] DETAILS BRECMBC9 13.1.007.MI. Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1-31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 94.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit 91.97 Need Help? Read It Watch It Master It 5. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 13.1.TB.016. MY NOTES You have a revolving credit account at an annual percentage rate of 18%. Use the average daily balance method to find the new balance given the following statement of account. STATEMENT OF ACCOUNT Billing cycle: July 1-31 July 1 Previous month's balance $143.85 July 5 McDermott Engineering 35.95 July 9 Payment 32.30 July 17 HI-Def Video (credit) 25.31 July 25 Sunny Flowers 30.93 $153.12 $155.31 $268.34 $299.05 Need Help? Read it6. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 13.1.019.MI. Cook Security Systems has a $37,500 line of credit, which charges an annual percentage rate of prime rate plus 4%. The starting balance on October 1 was $9,500. On October 4 they made a payment of $1,800. On October 13 the business borrowed $2,500, and on October 19 they borrowed $4,600. If the current prime rate is 6%, what is the new balance (in $)? (Round your answer to the nearest cent.) $ 14847.5 Need Help? Read It Watch It Master It 7. [0.14/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 14.1.002. Using this table as needed, calculate the required information for the mortgage Amount Interest Term Number Table Monthly Total Financed Rate of Loan of $1,000s Factor Payment Interest (years) Financed (in $) (in $) (in $) $76,500 8.00% 30 7 X $ 7.34 $ 561588.501 485089.501 X Need Help? Read It 8. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 14.1.012. As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Amount Interest Term Monthly Annual Financed Rate of Loan PI Property Annual Monthly (years) Insurance PITI Tax $270,000 9.50% 25 $ 2265.53 $6,573 $2,156 $2992 95 Need Help? Read It9. [-/0.57 Points] DETAILS BRECMBC9 19.III.TB.005. MY NOTES Based on the information in Jarred's auto insurance a plication, his agent has assigned Jarred to driver class 2 and placed his one-year-old car in model class R. The state where he lives requires minimum liability coverage of 50/100/50, and he also wants $250 deductible collision and full coverage comprehensive. Using Table 19-6 and Table 19-7, find his total premium, if his state is in territory 4, and he has received a rating factor of 2.7. (Round your answer to the nearest cent.) O $332.29 $397.00 O $418.04 O $1,071.90 Need Help? Read It 10. [-/0.57 Points] DETAILS BRECMBC9 19.III.TB.004. MY NOTES Toby wishes to obtain auto insurance. He wants 50/100/50 liability coverage, $250 deductible collision and full coverage comprehensive. He lives in territory 2 and has been assigned to driver class 3 with a rating factor of 2.75. Based on Table 19-6 and Table 19-7, what would be his total premium, if his two-year old car were in model class H? (Round your answer to the nearest cent.) $959.75 $1,007.74 O $1,047.00 O $1,094.12 Need Help? Read It 11. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 20.111.025.MI. MY NOTES PRACTICE ANOTHER You purchased 1,000 shares of a mutual fund at an offer price of $13.28 per share. Several months later you sold the shares for $14.82 per share. During the time you owned the shares, the fund paid a dividend of $0.69 per share. What was your return on investment? Round to the nearest tenth. 55.8 x % Need Help? Read It Watch It Master It12. [0.28/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 20.111.026. MY NOTES The Victoria Growth fund has an offer price of $13.30 and a net asset value of $12.85. (a) What is the sales charge (in $)? $ 0.45 (b) What is the sales charge percent? (Round your answer to one decimal point.) 3.38 X % Need Help? Read It 13. [0/0.57 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 20.1.018.MI. MY NOTES Suppose you own stock in Nguyen Science Services which had earnings of $0.60 per share last year. If yesterday's closing price was $22.20, what is the price-earnings ratio of the stock? (Round to the nearest whole number.) 37.67 Need Help? Read It Watch It Master It 14. [0/0.59 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 20.11.020.MI. MY NOTES Find the total proceeds (in $) from the sale of 20 bonds with a coupon rate of 8.25 and a current price of 96.975. (Round your answer to the nearest cent.) The commission charge is $4.00 per bond. The date of the transaction is 145 days since the last interest payment. $ 16043.75 X Need Help? Read it Watch It Master It