You started a company that manufactures belts and sells them for $200 each. If you need to sell 2000 belts per month to break even and fixed costs per month are $30000, what is the variable cost per item?

6. You invested $56800 for three years at 4.7% compounded annually. Find the accumulated value of the investment at the end of three years. Also find the compound interest earned on this amount.

13. You lent a friend 8500 dollars at 8.6%p.a. simple interest for 3 years. Find the amount of interest charged at the end of the term?

21. The simple interest charged on a loan of $67500 at 9% p.a was $2300. What is the term expressed in months?

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