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 Consumer Mathematics and Financial... Pretest

 1 . Express as a percent. [Hint] 2 . Express 0.052 as a percent. [Hint] 3 . Express 450% as a decimal. [Hint] 4 . Find the simple interest on \$2000, if it is invested at a rate of 9% for 4 years. [Hint] 5 . How much money will accumulate in an account if \$600 is invested at a rate of 5%, and it is compounded 4 times per year for 7 years? Use the following formula. [Hint] 6 . The cost of a boat is \$12,360. If the boat is financed by paying \$500 down and \$256.70 per month for 60 months, determine the amounted financed. [Hint] 7 . The cost of a car is \$19,725. If the car is financed by paying \$1000 down and \$512.75 per month for 48 months, determine the total installment price. [Hint] 8 . The price of a home is \$210,000. The bank requires a 20% down payment and 2 points at the time of closing. The cost of the home is financed with a 30-year, fixed-rate mortgage at 8%. Find the required down payment. [Hint] 9 . The price of a home is \$150,000. The bank requires a 20% down payment and 3 points at the time of closing. The cost of the home is financed with a 30-year, fixed-rate mortgage at 7.5%. How much must be paid for the 3 points at the closing? [Hint] 10 . An investor purchased 320 shares of stock at per share. Find the cost of the stock. [Hint] Answer choices in this exercise are randomized and will appear in a different order each time the page is loaded.

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