Problem Set 1 Part 3Do the problem corresponding to your .docx

Problem Set 1 Part 3
Do the problem corresponding to your assigned number.
Section 7-5 of the text will have helpful information
1) A credit card statement showed these transactions during
October.
October 1 Previous balance $238.30
October 2 Purchases $62.17
October 30 Payment $185.00
The credit card has an interest rate of 6% on the average daily
balance. Find the
average daily balance, the finance charge for the month, and the
new balance on
November 1. [Hint: Remember that October has 31 days.]
1)
October.
The credit card has an interest rate of 4.5% on the average daily
balance. Find
the average daily balance, the finance charge for the month, and
the new
balance on November 1. [Hint: Remember that October has 31
days.]

2)
October.
balance. Find the
new balance on
3)
October.
balance. Find
the new
days.]
4)
October.

balance. Find
the new
days.]
5)
1
October.
The credit card has an interest rate of 13.5% on the average
daily balance. Find
the new
days.]
6)
October.

daily balance. Find
the new
days.]
7)
October.
balance. Find
the new
days.]
8)
October.
balance. Find
the new
days.]

9)
October.
daily balance. Find
the new
days.]
10)
2
October.
daily balance. Find
the new
days.]
11)

October.
balance. Find
the new
days.]
12)
October.
balance. Find
the new
days.]
13)
October.

daily balance. Find
the new
days.]
14)
October.
balance. Find
the new
days.]
15)
3
October.

balance. Find the
new balance on
16)
October.
daily balance. Find
the new
days.]
17)
October.
balance. Find the
new balance on
18)

19) Ellen has maxed out her credit card at $11,500 and vows not
to make any other
credit card purchases. Her credit card company charges 1.23%
interest per
month, and the minimum monthly payment is all interest due
plus 4% of the
principal balance. How much of the balance can Ellen pay down
if she pays the
minimum payment only for 4 months?
19)
to make any other
interest per
plus 2% of the
if she pays the
20)
to make any other
interest per
plus 3% of the
if she pays the
21)

4
to make any other
interest per
plus 4% of the
if she pays the
22)
to make any other
interest per
plus 3% of the
if she pays the
23)
to make any other
interest per
plus 2% of the
if she pays the

24)
to make any other
interest per
plus 3% of the
if she pays the
25)
to make any other
interest per
plus 4% of the
if she pays the
26)
to make any other
interest per
plus 4% of the
if she pays the

27)
to make any other
interest per
plus 4% of the
if she pays the
28)
5
to make any other
interest per
plus 4% of the
if she pays the
29)
to make any other
interest per

plus 4% of the
if she pays the
30)
to make any other
interest per
plus 3% of the
if she pays the
31)
to make any other
interest per
plus 3% of the
if she pays the
32)
to make any other
interest per

plus 3% of the
if she pays the
33)
to make any other
interest per
plus 4% of the
if she pays the
34)
to make any other
interest per
plus 2% of the
if she pays the
35)
6

to make any other
interest per
plus 4% of the
if she pays the
36)
7
8
adelaidelagnese
Cross-Out
Do the problem associated with your assigned number.
Section 7-5 of the text will have helpful information
1) Kelly purchased a toaster for $180. She made a down
payment of 25% and
financed the rest for 12 months with payments of $17.58. Find
(a) the down
payment and (b) the total installment price of the toaster.

1)
payment of 15% and
(a) the down
2)
3) Harry had an unpaid balance of $1780.89 on his credit card
statement at the
beginning of December. He made a payment of $255.00 during
the month, and
made purchases of $369.82. If the interest rate on Harry's
credit card was 2.5%
per month on the unpaid balance, find his finance charge and
the new balance
on January 1.
3)
4) Phil had an unpaid balance of $2390.56 on his credit card
statement at the
the month, and
made purchases of $452.96. If the interest rate on Phil's credit
card was 4.5%
the new balance
on January 1.
4)
payment of 15% and

(a) the down
5)
6) Phil had an unpaid balance of $694.48 on his credit card
statement at the
beginning of May. He made a payment of $180.00 during the
month, and made
purchases of $49.52. If the interest rate on Phil's credit card
was 4% per month
on the unpaid balance, find his finance charge and the new
balance on June 1.
6)
payment of 20% and
(a) the down
7)
8) Aaron had an unpaid balance of $1637.05 on his credit card
statement at the
beginning of March. He made a payment of $150.00 during the
month, and
made purchases of $368.28. If the interest rate on Aaron's
the new balance
on April 1.
8)

1
payment of 25% and
(a) the down
9)
10) Katie had an unpaid balance of $1905.88 on her credit card
statement at the
beginning of June. She made a payment of $80.00 during the
month, and made
purchases of $308.08. If the interest rate on Katie's credit card
was 17.5% per
month on the unpaid balance, find her finance charge and the
new balance on
July 1.
10)
11) Phil had an unpaid balance of $2,084.50 on his credit card
statement at the
the month. If
the interest rate on Phil's credit card was 1.5% per month on the
unpaid balance,
find the finance charge and the new balance on January 1.
11)

statement at the
beginning of May. She made a payment of $445.00 during the
month, and
made purchases of $23.04. If the interest rate on Katie's credit
card was 20%
per month on the unpaid balance, find her finance charge and
the new balance
on June 1.
12)
payment of 15% and
(a) the down
13)
payment of 15% and
(a) the down
14)
15) Amy had an unpaid balance of $1753.05 on her credit card
statement at the
month, and
made purchases of $365.39. If the interest rate on Amy's credit
card was 7%
the new balance
on July 1.

15)
statement at the
month, and
credit card was
11.5% per month on the unpaid balance, find his finance charge
and the new
balance on April 1.
16)
statement at the
month, and
.made purchases of $375.44. If the interest rate on Aaron's
credit card was 12%
the new balance
on April 1.
17)
2
payment of 15% and
(a) the down

18)
statement at the
month, and
made purchases of $356.27. If the interest rate on Katie's credit
card was 7%
the new balance
on July 1.
19)
payment of 20% and
(a) the down
20)
statement at the
beginning of September. He made a payment of $280.00 during
the month, and
the new balance
on October 1.
21)

payment of 25% and
(a) the down
22)
statement at the
beginning of July. He made a payment of $265.00 during the
month, and made
purchases of $437.22. If the interest rate on Harry's credit card
was 14% per
month on the unpaid balance, find his finance charge and the
new balance on
August 1.
23)
statement at the
beginning of February. He made a payment of $475.00 during
the month, and
made purchases of $394.94. If the interest rate on Aaron's
credit card was 11%
the new balance
on March 1.
24)
payment of 20% and
(a) the down

25)
payment of 10% and
(a) the down
26)
3
payment of 20% and
(a) the down
27)
payment of 15% and
(a) the down
28)
29) Janice had an unpaid balance of $2358.19 on her credit card
statement at the
beginning of January. She made a payment of $80.00 during the
month, and
made purchases of $99.50. If the interest rate on Janice's credit

card was 4%
the new balance
on February 1.
29)
payment of 10% and
(a) the down
30)
payment of 25% and
(a) the down
31)
statement at the
beginning of April. He made a payment of $155.00 during the
month, and
made purchases of $33.92. If the interest rate on Harry's credit
card was 17%
the new balance
on May 1.
32)
33) Amy had an unpaid balance of $1622.11 on her credit card

statement at the
month, and
made purchases of $50.68. If the interest rate on Amy's credit
card was 4% per
month on the unpaid balance, find her finance charge and the
new balance on
July 1.
33)
34) Janice had an unpaid balance of $1877.01 on her credit card
statement at the
beginning of November. She made a payment of $165.00 during
the month,
and made purchases of $121.97. If the interest rate on Janice's
credit card was
2.5% per month on the unpaid balance, find her finance charge
and the new
balance on December 1.
34)
payment of 15% and
(a) the down
35)
4

payment of 15% and
(a) the down
36)
5
6
Do the problem that corresponds to your assigned number.
Section 7-1 in the text has helpful information.
1) The sale price of a spring break vacation package was
$139.99, and the travel
agent said by booking early, you saved $20. Find the percent
decrease in price.
1)
decrease in price.
2)

3) According to a government agency, there were 107,600
chefs/head cooks
employed in the United States in 2010 and 314,600 food service
managers.
Those numbers were projected to decrease to 106,000 and
299,600 by 2020.
Which job was facing the larger percent decrease? By how
much?
3)
chefs/head cooks
managers.
305,600 by 2020.
much?
4)
5) You buy $132 in clothes at a department store. You can
choose between
coupons that offer $20 off your entire purchase or 25% off.
Which will save you
more money? By how much?
5)
decrease in price.

6)
choose between
Which will save you
7)
decrease in price.
8)
decrease in price.
9)
decrease in price.
10)
1

choose between
Which will save you
11)
chefs/head cooks
managers.
310,600 by 2020.
much?
12)
decrease in price.
13)
chefs/head cooks
managers.
316,600 by 2020.
much?
14)

choose between coupons
that offer $18 off your entire purchase or 25% off. Which will
save you more
money? By how much?
15)
chefs/head cooks
managers.
306,600 by 2020.
much?
16)
chefs/head cooks
managers.
304,600 by 2020.
much?
17)
chefs/head cooks
managers.
296,600 by 2020.

much?
18)
chefs/head cooks
managers.
315,600 by 2020.
much?
19)
chefs/head cooks
managers.
314,600 by 2020.
much?
20)
2
chefs/head cooks
managers.

304,600 by 2020.
much?
21)
decrease in price.
22)
choose between
Which will save you
23)
choose between
Which will save you
24)
chefs/head cooks
managers.
313,600 by 2020.

much?
25)
chefs/head cooks
managers.
306,600 by 2020.
much?
26)
choose between
Which will save you
27)
choose between
Which will save you
28)
choose between
Which will save you

29)
choose between
Which will save you
30)
decrease in price.
31)
3
decrease in price.
32)
decrease in price.
33)

choose between
Which will save you
34)
decrease in price.
35)
choose between
Which will save you
36)
4
5

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