Answer Happy

Use a calculator for this exercise.

Chuong Ngo borrows $3500 from a bank that advertises
a 6% simple interest rate and repays the loan
in five equal monthly payments. Estimate the APR. Round
to the nearest tenth of a percent. Use the Approximate Annual
Percentage Rate Formula.
%
The Blackburn Computer Company has declared an annual dividend
of $0.65 per share. The stock is trading
at $35 per share. Find the dividend yield. (Round your
answer to two decimal places.)
%
Suppose your salary in 2016 is $50,000. Assuming
an annual inflation rate of 3%, what salary do you need to
earn in 2024 in order to have the same purchasing power?
(Round your answer to two decimal places.)
$
Use the formula
A = P(1
+ rt)
to calculate the maturity value of the simple interest
loan. (Round your answer to two decimal places.)
P = $11,000, r = 8.9%, t = 8 months
$
A bond has a $12,000 face value, a 7-year
maturity, and a 3.05% coupon. Find the total of the
interest payments paid to the bondholder.
$
Calculate the simple interest earned. Round to the nearest
cent.
P = $9,000, r = 6.3%, t = 6 months
$
Suppose you obtain a 20-year mortgage loan
of $195,000 at an annual interest rate of 7.9%. The
annual property tax bill is $977 and the annual fire
insurance premium is $484. Find the total monthly payment for
the mortgage, property tax, and fire insurance. (Round your answer
to the nearest cent.)
$