Tolerance: Be careful with rounding and do not round until you arrive at the final answer. Answer tolerance is 1 at the last digit based on the decimal place accuracy required by that question. For example, if a question asks you to round to the nearest cent (two decimal places) and the correct is $1,235.06, answers within 0.01 ($1,235.05 to $1,235.07) will count as correct. As another example, if a question asks you to round a percent answer to one decimal place and the correct answer is 4.6%, answers within 0.1% (4.5% to 4.7%) will count as correct.

15 and 16

If you borrow $19,000 from a bank for 9 years at an interest rate of 6.5%, how much will you owe in balloon payment at the end of the loan's term? This is a balloon loan with all payment due at the end. Round to the nearest dollar.

If you take out a balloon loan of $19,000 for 9 years at an interest rate of 6.5% and pay it all off at the end, how much interest will you have paid in total? Round to the nearest dollar.