In a sale, all prices are reduced by 15%. Find:

a) The sale price of a good originally costs $120.

b) The original price of a good sold for $136 in the sale.

2. You just bought a car for $16 000. It depreciates by 30% in the first year, 20% in the second year, and 15% thereafter.

a) How much will it be worth after 5 years?

b) What is the overall percentage decrease?

3. The price of a certain good is $350 including 10% VAT.

a) What is the price without VAT?

b) If VAT is increased to 12% what would be the new price?

c) What is the net percentage decrease or increase?

4. A sum of $15 000 is invested in a bank. Find when will the investment first exceed $40 000, if the rate is 10% compounded monthly.

5. Find the future value of a sinking fund that collects $400 at the beginning of every month for 10 years at an annual rate of 9%.

6. Find the present value of the annuity that yields $700 at the end of every month for 15 years at an annual rate of 6%.

7. Find a nominal rate, compounded semi-annually, if APR is 8%.

8. An investment rises from $20 000 to $25 000 over a period of 3 years. a) Calculate the overall percentage change. b) Is this a good investment if the annual rate is 7% compounded?