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Q#1: How much interest will you earn in three years with an initial deposit of $73 at a rate of 3.5%?

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Q#2: Calculate the time necessary to achieve $5,000 at 9% simple interest deposited $940 in an account.

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Q#3: A car is advertised with a price of $19,000. The payment plan to own a car is $350 per month for 5 years. What is the amount of interest paid?

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Q#4: Find the future value (total amount), using the future value formula for $350 at 8.5% simple interest for 3 years.

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Q#5: Find the future value (total amount), using the future value formula for $850 at 4.5% compounded quarterly for 6 years.

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Q#6: Find the future value (total amount), using the future value formula for $98,500 at 6.5% compounded continuously for 25 years.

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Q#7: Find the present value (P), using the present value formula to achieve $4,500 in five years at 6.2% simple interest.

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Q#8: Find the present value, using the present value formula to achieve $3,500 in five years at 7.2% interest compounded monthly.

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Q#9: Find the present value, using the present value formula to achieve $12,200 at 7.65% compounded continuously for 9 years.

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Q#10: You want to purchase a computer that has a price of $1,499 including sales tax, and you decide to pay for it with installments over 3 years. The store tells you that the interest rate is 15%. What is the amount of each monthly payment?

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Q#11: You want to purchase a computer that has a price of $2,399 plus 9% sales tax, and you decide to pay for it with installments over 2 years. The store tells you that the interest rate is 15%. What is the amount of each monthly payment?

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Q#12: Let’s considered the purchase of a computer with a price of $999 paid for in installments over 4 years at an add-on rate of14%. Use the APR formula to approximate the APR.

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