Ted Williams made deposits of $500 at end of each year for eight years The rate is 8 percent compounded annually. The value of Ted’s annuity at the end of eight years is: (Solve using the financial calculator. Select the best answer.)

 Jill Ley took out a loan to pay for her child’s education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:

A sinking fund: 

A sinking fund: 

The value of $60 deposited in a bank for six years at a rate of 10 percent compounded annually is:  (Solve using the financial calculator. Select the best answer.)

The portion is equaled to the base divided by the rate.

Janet Woo received the following grades in an accounting class at McClenan Community College: 65, 80, 70, 100, 75, and 90. The instructor said he would drop the lowest grade. What is Janet’s mean score?

A $40,000 loan at 4 percent dated June 10 is due to be paid on October 11. The amount of interest is: (Assume ordinary interest)

 The trade discount results if the customer pays the bill within the discount period.

At the inception of a mortgage, the major portion of the monthly payment is used to pay off the principal.