Finance Questions & Answers

Suppose that the local sales tax rate is \( 6 \% \) and you purchase a car for \( \$ 26,100 \). a. How much tax is paid? b. What is the car's total cost? a. The amount of tax paid is \( \$ \square \).

Find the time required for an investment of 5000 dollars to grow to 6500 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is \( t=\square \) years. You may enter the exact value or round to 2 decimal places.

A bank features a savings account that has an annual percentage rate of \( r=4.7 \% \) with interest compounded quarterly. Kimani deposits \( \$ 6,000 \) into the account. The account balance can be modeled by the exponential formula \( S(t)=P\left(1+\frac{r}{n}\right)^{n t} \), where \( S \) is the future value, \( P \) is the present value, \( r \) is the annual percentage rate written as a decimal, \( n \) is the number of times each year that the interest is compounded, and \( t \) is the time in years. (A) What values should be used for \( P, r \), and \( n \) ? \( P=\square=\square=\square \) (B) How much money will Kimani have in the account in 10 years? Answer \( =\$ \square \) Round answer to the nearest penny.

5.3. Tebogo is buying a pair of sneakers online. He finds the UK store selling a pair of sneakers for \( £ 169.69 \), with a \( 20 \% \) of discount off the purchase price. Then he finds the same pair of sneakers from USA online store for \( \$ 187,23 \mathrm{~s} \). He then looked up the exchange rates to find out which store has a better deal. If \( \$ 1=\mathrm{R} 12,43 \) and \( £ 1=\mathrm{R} 16,89 \), which store should he buy from?

Halle el valor del pago de la amortización de un préstamo de \( \$ 150,000 \) USD a 20 años de plazo considerando las siguientes características: a) Tasa de interés del \( 2.5 \% \) capitalizable mensual con pagos mensualmente.

David borrowed \( \$ 6000 \) from a lender that charged simple interest at an annual rate of \( 7 \% \). When David paid off the loan, he paid \( \$ 1680 \) in interest. How lo was the loan for, in years? If necessary, refer to the list of financial formulas.

5.1. The price of a 700 g loaf of brown bread in 2016 was R11.50. The current price in of the same loaf in 2024 is R17,99. Determine the rate of inflation as a percentage, if we assume the inflation rate remained unchanged for this period. 5.2. An amount of \( \mathrm{R6} 500,00 \) is invested at an interest of \( 11 \% \) p.a compounded yearly. Calculate the value of the investment at the end of 38 months.

How much did Lois have withheld from her yearly pay for Social Security? A. \( \$ 472.04 \) B. \( \$ 4465.71 \) C. \( \$ 2018.40 \) D. \( \$ 32,554.76 \)

Question 7 of 10 A type of taxation in which people and businesses with higher incomes have higher tax rates is known as A. regressive taxation B. federal taxation D. flat taxation D.ogressive taxation

A household consists of a married couple, their twin three-year-old sons, and their twin eight-year-old daughters. The couple's children had no income and lived with their parents all of last year. How many exemptions can the couple claim on last year's tax return if they file with the "Married filing jointly" status? A. 3 B. 5 C. 6 D. 4