91Ó°ÊÓ

Suppose you borrow \(\$ 875\) for a term of four years at simple interest and \(4.28 \%\) APR. How much is the total (principal plus interest) you must pay back on the loan?

Suppose you borrow \(\$ 1250\) for a term of three years at simple interest and \(5.1 \%\) APR. How much is the total (principal plus interest) you must pay back on the loan?

Suppose you purchase a four-year bond with an APR of \(5.75 \% .\) The face value of the bond is \(\$ 4920 .\) Find the purchase price of the bond.

Suppose you purchase a 15-year U.S. savings bond with an APR of \(4 \%\). The face value of the bond is \(\$ 8000\). Find the purchase price of the bond.

Find the APR of a bond that doubles its value in 12 years. Round your answer to the nearest hundredth of a percent.

Find the APR of a bond that doubles its value in 20 years. Round your answer to the nearest hundredth of a percent.

Advance America is a payday loan company that offers quick, short-term loans using the borrower's future paychecks as collateral. Advance America charges \(\$ 17\) for each \(\$ 100\) loaned for a term of 14 days. Find the APR charged by Advance America.

CashNet USA is a payday loan company that offers quick, short-term loans using the borrower's future paychecks as collateral. CashNet USA charges \(\$ 25\) for each \(\$ 100\) loaned for a term of 14 days. Find the APR charged by CashNet USA.

Find the future value of an investment of \(P=\$ 3250\) compounded annually with a \(9 \%\) APR for a term of (a) four years. (b) five and a half years.

Between 1990 and 2010 the average annual inflation rate was \(3.5 \%\). Find the salary in 2010 dollars that would be equivalent to a \(\$ 25,000\) salary in 1990 .