All Questions. 1. Cost Price $38.40 Markup $7.90 % Markup on Cost ? Selling Price ? Find the Markup on Cost & The Selling Price 2. A company sold an outdoor lighting set for $125.72. The markup on the set was $24.67. . Find (a) the cost, (b) the markup percent on cost, and (c) the selling price as a percent of cost. (a) The cost price is ? . (Round to nearest cent.) (b) The markup percent on the cost is ? (Round to nearest whole percent.) (c) The selling price as a percent of cost is? (Round to nearest whole percent.) 3. A tractor dealer puts a markup of 23% on cost on a part for which it paid $450 . Find (a) the selling price as a percent of cost, (b) the selling price, and (c) the markup. (a) The selling price as a percent of cost is ? (Round to nearest whole percent.) (b) The selling price is ? (Round to nearest dollar.) (c) The markup is ? . (Round to nearest dollar.) 4. Find the percent of markdown and the amount of markdown. Original Price % Markdown $ Markdown Reduced Price $35.30 ? ? 20.90 5. Find the break-even point, the reduced price, and the absolute loss. Cost Operating Expense Break-even Point Reduced Price Operating Loss Absolute Loss $348 $70 ? ? $144 ? 6. A carpet company paid $2495 for an imported rug. Their operating expenses are 40% of cost. If they sell the rug at a clearance price of $3789.00, find the amount of profit or loss. Does the company make a profit or an operating loss on the rug? What is the Profit? 8. Find the stock turnover at cost and at retail. Average Inventory at Cost $22,340 Average Inventory at Retail $32,390 Cost of Goods $178,827 Retail Sales $259,140 9. Find the inventory value using the weighted average method. Turnover at Cost Turnover at Retail Purchases Beginning inventory: 23 units at $8 June: 17 units at $9 August: 15 units at $10 Now in inventory: 20 units Find the inventory value using the weighted average method? (Round weighted average per unit to the nearest cent. Round the final answer to the nearest cent.) 10. Find both the exact and ordinary interest on $31, 600 at 14 1/4% for 175 days. Then find the amount by which the ordinary interest is larger. The exact interest on $ 31, 600 14 1/4% for 175 days is ? The ordinary interest on $31, 600 at 14 1/4% for 175 days is ? The amount by which the ordinary interest is larger is ? 11. A homeowner borrowed $6580 for landscaping. He signed a 90-day note on May 7 at 11 % interest. Find the due date and the maturity value. What is the due date? What is the maturity value? 12. Chad's property tax is $606.22 and is due April 20. He does not pay until June 17. The county adds a penalty of 9.9% simple interest on unpaid tax. Find the penalty using exact interest. 13. Find the principal. Rate: 7 Time in Days: 100 Interest: $485 What is the principal? 14. Find the rate. Assume a 360-day year. Principal: 1980 Time(Days): 235 Interest:55 What is the Rate? 15. Find the time of the loan. Principal Rate Interest Time $ 3200 10 1/4 $118.80 ? 16. Find the discount and the proceeds of a note with the given terms. Face Discount Time Proceeds or Discount Value Rate (Days) Loan Amount $ 11,570 12 1/2 55 ? ? 17. Find the maturity date and the proceeds using the following data. Use the given table for the number of each of the days of the year. Maturity Value: 12,000 Discount Rate: 7 Date Made: August 23rd Times in Days: 180 What is the Maturity Date? What is the amount of the proceeds? 18. In order to plant Christmas trees in another field, Redsigned a note with a face value of $26, 000at a 10% discount rate. Find the length of the loan in days given that the discount is $1588.89. Use banker's interest of 360 days. The length of the loan is ____ days? 19. A large Japanese investment firm purchases $27, 000, 000 in U.S. T-bills at a 5% discount for 13 weeks. Find the purchase price of the T-bills, the maturity value of the T-bills, the interest earned, and the effective rate. Assume 52 weeks per year for the following exercise. The purchase price is? The maturity value is? The interest earned is? . The effective rate is ___%? (Round to the nearest hundredth.) 20. Find the maturity value, discount period, discount, and net proceeds for a promissory note that is discounted at 12%. Use banker's interest of 360 days. Loan Face Length of Date of Rate % Made on Value Loan (Days) Discount May 18th $7,000 160 11 Sept. 10th The maturity value is? (Round to the nearest cent as needed.) The discount period is ____ days? The discount is $? The net proceeds are $? 21 . Interest is compounded quarterly. Do not use the table value to shortcut the computation, plug the numbers into the formula and use your calculator to compute. Principal Rate of Interest Time $ 18, 000 11% 3 years What is the compound amount? What is the compound interest? 22. Find both the compound amount and the interest on $3000 at 12 % for 2 years. Interest is compounded quarterly. What is the compound amount? What is the compound interest? 23. Find the interest earned. Assume 3 %interest compounded daily. Date Date Interest Amount Deposited Withdrawn Earnest $ 18, 608 October 15 December 2nd $ ? What is the amount of interest earned? 24. Complete the table below. Amount Interest Time Compound Deposited Rate in Years Amount $ 13,000 3% 2 What is the compound amount? (Simplify your answer. Round to the nearest cent as needed.) 25. Find the present value and the amount of interest earned. Use the present value of a dollar table. Amount Time Present Interest Interest Compounded Needed (Years) Value Earned $ 18,785 6 6% Quarterly $ $ What is the present value? What is the amount of interest earned? 26. Mr. Jordan wants all of his grandchildren to go to college and decides to help financially. How much must he give to each child at birth if they are to have $16,466 on entering college 18 years later, assuming 6%interest compounded annually? How much should he give each child at birth? Please Answer All Questions. 1. Cost Price $38.40 Markup $7.90 % Markup on Cost ? Selling Price ? Find the Markup on Cost & The Selling Price 2. A company sold an outdoor lighting set for $125.72. The markup on the set was $24.67. . Find (a) the cost, (b) the markup percent on cost, and (c) the selling price as a percent of cost. (a) The cost price is ? . (Round to nearest cent.) (b) The markup percent on the cost is ? (Round to nearest whole percent.) (c) The selling price as a percent of cost is? (Round to nearest whole percent.) 3. A tractor dealer puts a markup of 21% on cost on a part for which it paid $450 . Find (a) the selling price as a percent of cost, (b) the selling price, and (c) the markup. (a) The selling price as a percent of cost is ? (Round to nearest whole percent.) (b) The selling price is ? (Round to nearest dollar.) (c) The markup is ? . (Round to nearest dollar.) 4. A tractor dealer puts a markup of 21% on cost on a part for which it paid $450 . Find (a) the selling price as a percent of cost, (b) the selling price, and (c) the markup. Original Price % Markdown $ Markdown Reduced Price $32.80 ? ? 20.40 5. Find the operating expenses, the operating loss, and the absolute loss. Cost Operating Expense Break-even Point Reduced Price Operating Loss Absolute Loss $49 ? $64 $44 ? ? 6. A carpet company paid $2425for an imported rug. Their operating expenses are 30% of cost. If they sell the rug at a clearance price of $2856.50, find the amount of profit or loss Does the company make a profit or an operating loss on the rug? What is the Profit? 8. Find the stock turnover at cost and at retail. Average Inventory at Cost $22,350 Average Inventory at Retail $32,410 Cost of Goods $178,417 Retail Sales $259,674 Turnover at Cost Turnover at Retail 9. Find the inventory value using the weighted average method. Purchases Beginning inventory: 25 units at $8 June: 16 units at $9 August: 13 units at $10 Now in inventory: 20 units (Round weighted average per unit to the nearest cent. Round the final answer to the nearest cent.) 10. Find both the exact and ordinary interest on $39,900 at 5 1/4% for 157 days. Then find the amount by which the ordinary interest is larger. The exact interest on $ 39, 900 14 1/4% for 157 days is ? The ordinary interest on $39, 900 at 14 1/4% for 157 days is ? The amount by which the ordinary interest is larger is ? 11.A homeowner borrowed $6150 for landscaping. He signed a 90-day note on May 16 at 12 and one fourth% interest. Find the due date and the maturity value. What is the due date? What is the maturity value? 12. Chad's property tax is $633.45 and is due April 30. He does not pay until July 30.The county adds a penalty of 7.9% simple interest on unpaid tax. Find the penalty using exact interest. 13. Find the principal. Rate: 7 Time in Days: 180 Interest: $465 What is the principal? 14. Find the rate. Assume a 360-day year. Principal: 3240 Time(Days): 100 Interest: 90 What is the Rate? 15. Find the time of the loan. Principal Rate Interest Time $ 2595 11 % $45.31 ? days 16. Find the discount and the proceeds of a note with the given terms. Face Discount Time Proceeds or Discount Value Rate (Days) Loan Amount $ 11,840 11 1/2 65 ? ? 17. Find the maturity date and the proceeds using the following data. Use the given table for the number of each of the days of the year. Maturity Value: 18,000 Discount Rate: 9 Date Made: August 21st Times in Days: 180 What is the Maturity Date? What is the amount of the proceeds? 18. In order to plant Christmas trees in another field, Ronsigned a note with a face value of $34,000 at a 12% discount rate. Find the length of the loan in days given that the discount is $1473.33. Use banker's interest of 360 days. The length of the loan is ____ days? 19. A large Japanese investment firm purchases $18 ,000,000 in U.S. T-bills at a 6% discount for 26weeks. Find the purchase price of the T-bills, the maturity value of the T-bills, the interest earned, and the effective rate. Assume 52 weeks per year for the following exercise. The purchase price is? The maturity value is? The interest earned is? . The effective rate is ___%? (Round to the nearest hundredth.) 20. Find the maturity value, discount period, discount, and net proceeds for a promissory note that is discounted at 12%. Use banker's interest of 360 days. Loan Face Length of Date of Rate % Made on Value Loan (Days) Discount January 31 $27,100 140 9.0 March 10th The maturity value is? (Round to the nearest cent as needed.) The discount period is ____ days? The discount is $? The net proceeds are $? 21 . Interest is compounded quarterly. Do not use the table value to shortcut the computation, plug the numbers into the formula and use your calculator to compute. Principal Rate of Interest Time $ 17, 000 12% 3 years What is the compound amount? What is the compound interest? 22. Find both the compound amount and the interest on $9,000 at 12 % for 2 years. Interest is compounded quarterly. What is the compound amount? What is the compound interest? 23. Find the interest earned. Assume 3 %interest compounded daily. Date Date Interest Amount Deposited Withdrawn Earnest th d $17,870 October 14 December 10 $ ? What is the amount of interest earned? 24. Complete the table below. Amount Interest Time Compound Deposited Rate in Years Amount $ 11,100 3% 3 What is the compound amount? (Simplify your answer. Round to the nearest cent as needed.) 25. Find the present value and the amount of interest earned. Use the present value of a dollar table. Amount Time Present Interest Interest Compounded Needed (Years) Value Earned $ 18,691 7 6% Quarterly $ $ What is the present value? What is the amount of interest earned? 26. Mr. Jordan wants all of his grandchildren to go to college and decides to help financially. How much must he give to each child at birth if they are to have $15,791 on entering college 18 years later, assuming 8%interest compounded annually? How much should he give each child at birth