Use a calculator for this exercise. Chuong Ngo borrows $3500 from a bank that advertises a 6% simple interest rate and repays the loan in five equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula. %

The Blackburn Computer Company has declared an annual dividend of $0.65 per share. The stock is trading at $35 per share. Find the dividend yield. (Round your answer to two decimal places.) %

Suppose your salary in 2016 is $50,000. Assuming an annual inflation rate of 3%, what salary do you need to earn in 2024 in order to have the same purchasing power? (Round your answer to two decimal places.) $

Use the formula

A = P(1 + rt)

to calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)

P = $11,000, r = 8.9%, t = 8 months

$

A bond has a $12,000 face value, a 7-year maturity, and a 3.05% coupon. Find the total of the interest payments paid to the bondholder. $

Calculate the simple interest earned. Round to the nearest cent.

P = $9,000, r = 6.3%, t = 6 months

$

Suppose you obtain a 20-year mortgage loan of $195,000 at an annual interest rate of 7.9%. The annual property tax bill is $977 and the annual fire insurance premium is $484. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.) $