Answer ALL questions and show ALL workings) 1. One real estate sales technique is to encourage customers to buy today because the value of property will probably increase during the next few years. Waiting to buy land has its advantages and disadvantages. With that being said, kindly solve the following situation(a) below:- (a) Properties in a new subdivision sell for $15,000. Assuming that the price of the property does not increase, how much would you need to invest today at 10% compounded quarterly to buy the lot in two (2) years? (b) Dario Smith invests $2,000 at 8% compounded semiannually for two years, and Percy Rolle invests $2,000 at 8% compounded quarterly for 18 months. Which investment yields the greater interest? 2. (a) You have inherited $45.000 and plan to buy a home. If you invest the $45,000 today at 5%, compounded semiannually, how much could you spend on the house in two (2) years? (b) After purchasing an apartment, Garrett receives a gutter assessment for $12,500 due in two (2) years. How much would she have to invest today in a CD paying 6% compounded quarterly, to fully pay the assessment in two (2) years? 3. Simpson Cox borrowed $4,000 for sixty (60) days at 4%. On day fifteen (15), Simpson made a $700 partial payment. On day forty (40), Simpson made a $2,000 partial payment. What is Simpson's adjusted balance due at maturity under the grdinary me Q + ihrere J U LAIprojector messagePartid -0.1 th, 2020.docx Open with Google Docs 3. Simpson Cox borrowed $4,000 for sixty (60) days at 4%. On day fifteen (15), Simpson made a $700 partial payment. On day forty (40), Simpson made a $2,000 partial payment. What is Simpson's adjusted balance due at maturity under the ordinary time rule? 4. The Grand Bahama Chorale is buying tickets to sell for its Christmas! Concert performance. The tickets cost $15 each and 500 tickets are purchased. Before the concert, the Chorale sold 300 tickets at a 50% markup based on cost. What is the markup if the Chorale sold the remaining 200 tickets at a 25% reduction from the selling price? Ober wer sogle Docs S. (@If you were offered $800 today or $900 in two years, which would you accept if money can be invested at 12% annual interest compounded monthly? (b) Discuss some of the transactions you can do with the use of online banking services and an ATM machine. 6. Kelly Smith can purchase a computer for $2,500 with cash terms of 3% discount in ten (10) days or net thirty (30) days. If she can borrow the money at 12% simple ordinary interest for thirty (30) days, will she save money by taking advantage of the cash discount offered? 7. There are two (2) parts to a bank reconciliation, the account register (company side), and the bank statement (bank side). Chances are that the account register and the bank statement would not agree initially. Describe in detail how you would reconcile the account register with the bank statement 8. John Rolle calculates the selling price for all produce at Farm Products. If 400 pounds of onions were purchased for $0.13 per pound and 18% of the onions were expected to spoil before being sold, determine the price per pound that the onions must sell for if a markup of 120% of the purchase Thursday April 9th, 2020.docx Open with Google Docs 8. John Rolle calculates the selling price for all produce at Farm Products 400 pounds of onions were purchased for $0.13 per pound and 18% of the onions were expected to spoil before being sold, determine the price per pound that the onions must sell for if a markup of 120% of the purchase price is desired. 9. (a) A principal of $2,000 is placed in a savings account at 3% per annum compounded annually. Calculate the future value after one year: two years: and three years respectively and separately. (6) KMW borrowed $5,724 at 12% interest per year to buy auto supplies for its store. If it paid $2,061.00 interest, what was the duration of the loan? 10.Fill in the blanks in the table below. Round amounts to the nearest cent and rates to the nearest hundredth percent. Cost Markup Selling Rate of Rate of Price markup markup on cost on selling price SI 8.50 $20 $50.49 40% $240 37% $22.50 15% POP Page 2/3 - Q +