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## AMU MATH 125 week 3 test answers American Military University

# AMU MATH 125 Test Week 3 answers

## AMU MATH 125 Test Week 3 question 1

A dress was reduced from $75 to $50. Find the percent of the reduction in price.

A.33%

B.12%

C.50%

D.80%

## AMU MATH 125 Test Week 3 Question 2

The average teachers’ and superintendents’ salaries for a school district was $40,207. Ten years later, the new average was $52,746. Find the percent increase to the nearest tenth of a percent.

A.31.2%

B.3.1%

C.15.6%

D.6.2%

## AMU MATH 125 Test Week 3 Question 3

Find the missing value: Principal $21,700; Rate: 17%; Time: ____; Simple Interest: $9,222.50

A.2 years

B.2.5 years

C.3.5 years

D.3 years

## AMU MATH 125 Test Week 3 Question 4

Find the missing value: Principal $23,100; Rate: _____; Time 2 years; Simple Interest: $2,310

A.5%

B.4.5%

C.4%

D.5.5%

## AMU MATH 125 Test Week 3 Question 5

Find the future value of the loan. P = $13,900, r = 2%, t = 3 years

A.$14,734.00

B.$13,275.71

C.$14,750.79

D.$13,260.60

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## AMU MATH 125 Test Week 3 Question 6

Dr. Sand borrowed some money to buy new furniture for his office. He paid $338.00 simple interest on a 6.5-year loan at 4%. Find the principal.

A.$1,450

B.$1,300

C.$1,200

D.$1,400

## AMU MATH 125 Test Week 3 Question 7

Find the compound interest: Principal $1,300; Rate 12.5%; Compounded Semiannually; Time 8 years.

A.$2,119.20

B.$2,129.31

C.$2,132.45

D.$2,127.16

## AMU MATH 125 Test Week 3 Question 8

Find the future value of an annuity if you invest $950 semiannually for 5 years at 6.5% compounded semiannually.

A.$10,996.66

B.$11,117.03

C.$11,016.91

D.$11,067.41

## AMU MATH 125 Test Week 3 Question 9

In order to help pay for college, the grandparents of a child invest $2,850 in a bond that pays 5% interest compounded semiannually. How much money will there be in 5.5 years?

A.$3,789.95

B.$3,719.20

C.$3,739.45

D.$3,839.57

## AMU MATH 125 Test Week 3 Question 10

As part of his retirement planning, Mr. Martin purchases an annuity that pays 8.5% compounded semiannually. If the semiannual payment is $9,500, how much will Mr. Martin have saved in 4 years?

A.$88,298.50

B.$88,418.87

C.$88,369.25

D.$88,318.75

## AMU MATH 125 Test Week 3 Question 11

Suppose you plan to work right after you graduate, but still save money for graduate school. You decide to save $35,000 before starting, and find a weekly annuity that pays 6% interest for 2 years. How much will you need to pay each week?

A.$348.64

B.$285.25

C.$396.18

D.$316.94

## AMU MATH 125 Test Week 3 Question 12

Joan purchased a refrigerator for $600. She made a down payment of $80 and paid $61 a month for 9 months. Find the total installment price of the refrigerator.

A.$629.00

B.$585.00

C.$638.00

D.$647.00

## AMU MATH 125 Test Week 3 Question 13

Stephen purchased a diamond engagement ring for $3,000. His down payment was $2000, and he made 24 monthly payments of $46.15. Find the APR from the table below.

A.10.5%

B.10%

C.11%

D.9.5%

## AMU MATH 125 Test Week 3 Question 14

Harry had an unpaid balance of $2,320.00 on his credit card statement at the beginning of February. He made a payment of $160.00 during the month. If the interest rate on Harry’s credit card was 11% per month on the unpaid balance, find the finance charge and the new balance on March 1.

A.Finance charge = $259.31; new balance = $2,419.31

B.Finance charge = $265.34; new balance = $2,425.34

C.Finance charge = $255.20; new balance = $2,415.20

D.Finance charge = $253.31; new balance = $2,413.31

## AMU MATH 125 Test Week 3 Question 15

Amanda’s credit card statement showed these transactions during December.

Dec 1 Previous balance $228.11

Dec 12 Purchases $354.78

Dec 18 Purchases $86.13

Dec 27 Payment $80.00

The interest rate is 10% per month on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on January 1. [Hint: Remember that December has 31 days.]

A.Average Daily Balance = $482.99; Finance Charge = $48.30; New Balance = $637.32

B.Average Daily Balance = $479.99; Finance Charge = $38.30; New Balance = $629.32

C.Average Daily Balance = $480.79; Finance Charge = $47.00; New Balance = $630.32

D.Average Daily Balance = $472.99; Finance Charge = $46.30; New Balance = $630.32

## AMU MATH 125 Test Week 3 Question 16

A house sells for $312,500 and a 20% down payment is made. A 30-year mortgage at 7% was obtained. Find the monthly payment and the total interest paid.

A.Monthly payment = $1,671.61; total interest paid = $351,779.60

B.Monthly payment = $1,762.49; total interest paid = $384,496.40

C.Monthly payment = $1,662.50; total interest paid = $348,500.00

D.Monthly payment = $1,654.35; total interest paid = $345,566.00

## AMU MATH 125 Test Week 3 Question 17

A small restaurant was purchased for $407,000 with no down payment and a 6% loan for 20 years. Find the monthly payment.

A.$2,915.87

B.$2,332.70

C.$3,207.46

D.$2,624.29

## AMU MATH 125 Test Week 3 Question 18

A house has a $130,000.00 mortgage at 6.5%. The monthly payments are $1,132.30. Compute an amortization schedule for the first three months.

Payment Number Interest Payment on Principal Balance of Loan

1

2

3

A.

B.

C.

D.

## AMU MATH 125 Test Week 3 Question 19

What was the highest price that the stock sold for during the last 52 weeks?

52 WK

A.$43.84 per share

B.$61.64 per share

C.$64.84 per share

D.$63.24 per share

## AMU MATH 125 Test Week 3 Question 20

What was the lowest price that the stock sold for during the last 52 weeks?

A.$44.22 per share

B.$66.79 per share

C.$41.87 per share

D.$46.57 per share

## AMU MATH 125 Test Week 3 question 21

What was the amount of the dividend per share that the company paid last year?

A.$1.88 per share

B.$160.35 per share

C.$119.29 per share

D.$87.63 per share

## AMU MATH 125 Test Week 3 Question 22

Find the annual earnings per share.

A.$7.68

B.$8.53

C.$10.40

D.$7.59

## AMU MATH 125 Test Week 3 Question 23

If an investor had 387 shares of stock last year how much in dividends did the investor receive?

A.$1478.34

B.$739.17

C.$2217.51

D.$2956.68

## AMU MATH 125 Test Week 3 Question 24

If you purchase 1,013 shares of stock at the closing price and the broker’s commission is 2.1%, find the total cost of the purchase.

A.$49,983.04

B.$44,984.74

C.$52,127.36

D.$46,914.62

## AMU MATH 125 Test Week 3 Question 25

What was the closing price of the stock the day before yesterday?

A.$72.53

B.$59.96

C.$62.58

D.$48.85

## AMU MATH 125 Test Week 3 Question 26

If the closing price of a stock is $46.02 and the annual earnings per share is $0.18, find the P/E ratio.

A.255.67

B.8.28

C.230.10

D.9.11

## AMU MATH 125 Test Week 3 Question 27

The closing price of a stock is $67.43 and the annual earnings per share is $2.48, find the P/E ratio.

A.183.95

B.24.47

C.167.23

D.27.19

## AMU MATH 125 Test Week 3 Question 28

If the closing price of a stock is $18.71 and the P/E ratio is 16, find the annual earning per share.

A.$269.42

B.$1.05

C.$299.36

D.$1.17

## AMU MATH 125 Test Week 3 Question 29

If the closing price of a stock is $22.8 and the P/E ratio is 13, find the annual earnings per share.

A.$1.58

B.$1.75

C.$296.40

D.$326.04

## AMU MATH 125 Test Week 3 Question 30

An investor purchased 700 shares of stock for $30.81 per share and sold them later for $33.49 per share. The broker’s commission was 1% of the purchase price and 1% of the selling price. Find the amount the investor made on the stock.

A.$1,425.90

B.$1,857.24

C.$–1,425.90

D.$–1,283.31