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What percent of \(7.5\) is \(0.6\) ?

Two accounts each begin with a deposit of \(\$ 5000\). Both accounts have rates of \(5.5 \%\), but one account compounds interest once a year while the other account compounds interest continuously. Make a table that shows the amount in each account and the interest earned after 1 year, 5 years, 10 years, and 20 years.

Suppose that the local sales tax rate is \(7 \%\) and you purchase a graphing calculator for \(\$ 96\). a. How much tax is paid? b. What is the calculator's total cost?

Parents wish to have \(\$ 80,000\) available for a child's education. If the child is now 5 years old, how much money must be set aside at \(6 \%\) compounded semiannually to meet their financial goal when the child is 18 ?

An exercise machine with an original price of \(\$ 860\) is on sale at \(12 \%\) off. a. What is the discount amount? b. What is the exercise machine's sale price?

A dictionary that normally sells for \(\$ 16.50\) is on sale at \(40 \%\) off. a. What is the discount amount? b. What is the dictionary's sale price?

An account has a nominal rate of \(4.2 \%\). Find the effective annual yield, rounded to the nearest tenth of a percent, with quarterly compounding, monthly compounding, and daily compounding. How does changing the compounding period affect the effective annual yield?

A sofa regularly sells for \(\$ 840\). The sale price is \(\$ 714\). Find the percent decrease of the sale price from the regular price.

How much should you deposit at the end of each month in an IRA that pays \(8 \%\) compounded monthly to earn \(\$ 60,000\) per year from interest alone, while leaving the principal untouched, when you retire in 30 years?

Suppose that you have \(\$ 10,000\) in a rather risky investment recommended by your financial advisor. During the first year, your investment decreases by \(30 \%\) of its original value. During the second year, your investment increases by \(40 \%\) of its first-year value. Your advisor tells you that there must have been a \(10 \%\) overall increase of your original \(\$ 10,000\) investment. Is your financial advisor using percentages properly? If not, what is your actual percent gain or loss of your original \(\$ 10,000\) investment?