Question: A farmer is trying to decide whether

> An $85,000 investment earned a 3.9% rate of simple interest from December 1, 2019, to May 30, 2020. How much interest was earned?

> The total accrued interest owed as of August 31 on a loan advanced the preceding June 3 was $169.66. If the variable interest rate started at 8 3 4 % , rose to 9% effective July 1, and increased another 1 2 % effective July 31, what was the principal amo

> How much will be required on February 1 to pay off a $3000 loan advanced on the previous September 30 if the variable interest rate began the interval at 4.7%, rose to 5.2% effective November 2, and then dropped back to 5% effective January 1?

> Penny invested $4500 on October 28 at a floating rate of interest that initially stood at 6.3%. Effective December 2, the rate dropped by 1 2 % , and then it declined another 1 4 % effective February 27. What total amount of principal plus interest will

> Mario borrowed $6000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be owed on the August 1 repayment date?

> Sharon’s $9000 term deposit matured on March 16, 2019. Based on a simple interest rate of 3.75%, she received $110.96 in interest. On what date did she originally make the term deposit?

> How much interest accrued from November 30, 2018, to March 4, 2019, on a $7350 loan at 7.5%?

> Bruce borrowed $6000 from Darryl on November 23. When Bruce repaid the loan, Darryl charged $127.60 interest. If the rate of simple interest on the loan was 6 3 4 % , on what date did Bruce repay the loan? Assume that February has 28 days.

> The $1000 principal amount of a loan was repaid on March 13, 2019, along with accrued interest in the amount of $49.42. If the interest rate on the loan was 11%, on what date was the loan advanced?

> On what date was a $1000 loan granted if the interest accrued as of November 16, 2019, was $50.05? The interest rate on the loan was 7 1 4 % .

> Round it to four-figure accuracy. 11.3845

> $1000 was invested on April 18, 2019, in a GIC earning 7.7% per annum. On its maturity date, the certificate paid $32.28 interest. On what date did it mature?

> On June 26, 2019, $1000 was borrowed at an interest rate of 4.55%. On what date was the loan repaid if the amount of accrued interest was $11.47?

> Megan was charged $124.83 interest on her bank loan for the period September 18 to October 18. If the rate of interest on her loan was 8.25%, what was the outstanding principal balance on the loan during the period?

> In addition to a $2163 refund of her income tax overpayment, the Canada Revenue Agency (CRA) paid Raisa $13.36 of interest on the overpayment. If the simple interest rate paid by the CRA was 5.5%, how many days’ interest was paid?

> Maia’s chequing account was $329 overdrawn beginning on September 24. On October 9 she made a deposit that restored a credit balance. If she was charged overdraft interest of $2.50, what annual rate of simple interest was charged?

> Joyce had $2149 in her daily interest savings account for the entire month of June. Her account was credited with interest of $2.65 on June 30 (for the exact number of days in June). What annual rate of simple interest did her balance earn?

> Raimo borrowed $750 from Chris on October 30 and agreed to repay the debt with simple interest at the rate of 12.3% on May 10. How much interest was owed on May 10? Assume that February has 28 days.

> A $3800 loan at 7.5% was advanced on June 17, 2019. How much interest was due when the loan was repaid on October 1, 2019?

> How much interest will be earned on $5000 in five months if the interest rate is 5.5%?

> $890 interest was charged on $8900 borrowed on a simple interest basis for eight months. What was the interest rate per month on the loan?

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. 37 27

> What annual rate of interest was earned if a $15,000 investment for five months earned $546.88 in interest?

> The interest paid on an 11-month loan at 10 1 4 % was $328.85. What was the principal amount of the original loan?

> The interest paid at the end of the term of a $9125 loan at 0.8% per month was $511.00. Calculate the term of the loan.

> What was the term of a $4850 loan at 4.5% if the interest due at the end was $145.50?

> A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned?

> Montel loaned $6800 to a friend for 13 months at an annual rate of 7.7% simple interest. How much interest did the borrower owe?

> Sergon has $5000 to invest for six months. The rates offered on three-month and six-month term deposits at his bank are 5.5% and 5.8%, respectively. He is trying to choose between the six-month term deposit and two consecutive three-month term deposits.

> Sumer put $10,000 in a three-month term deposit at TD Canada Trust, earning a simple interest rate of 2.2%. After the three months, she invested the entire amount of the principal and interest from the first term deposit in a new three-month term deposit

> Asher cashed in a one-year term deposit after only five months had elapsed. In order to do so, he accepted an interest rate penalty—a reduction from the scheduled 5.5% rate of simple interest. If he was paid $145.83 interest on the $10,000 term deposit,

> Morgan loaned $3100 to Rolf at a simple interest rate of 0.65% per month. What was the term of the loan if the total interest came to $221.65?

> Express decimal and percent equivalent forms to five-figure accuracy.

> Indira paid interest charges of $169.05 on a $4830 invoice that was two months overdue. What monthly rate of simple interest was she charged?

> A five-month term deposit of $10,000 at Scotiabank earned $175 in interest. What annual rate of simple interest did the deposit earn?

> How much must be placed in a five-month term deposit earning 4.3% simple interest in order to earn $500 interest?

> The interest owed on a loan after five months was $292.50. If the simple interest rate charged on the loan was 0.9% per month, what was the amount borrowed?

> An invoice states that interest will be charged on overdue accounts at the rate of 1 1 2 % per month. What will the interest charges be on a $3760 billing that is three months overdue?

> How much interest was paid on a $1500 loan for seven months at an annual interest rate of 4.5%?

> A small manufacturing operation can produce up to 250 units per week of a product that it sells for $20 per unit. The variable cost per unit is $12, and the fixed cost per week is $1200. 1. How many units must the business sell per week to break even? 2.

> Jordan is developing a business plan for a residential building inspection service he may start. Rent and utilities for an office would cost $1000 per month. The fixed costs for a vehicle would be $450 per month. He estimates that the variable office cos

> Huntsville Office Supplies (HOS) is evaluating the profitability of leasing a photocopier for its customers to use on a self-serve basis at 10¢ per copy. The copier may be leased for $300 per month plus 1.5¢ per copy on a full-service contract. HOS can p

> Clone Computers assembles and packages personal computer systems from brand-name components. Its Home Office PC system is assembled from components costing $1400 per system and sells for $2000. Labour costs for assembly are $100 per system. This product

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. -7 270

> A real estate salesperson can lease an automobile for five years at $500 per month payable at the beginning of each month, or purchase it for $32,000. She can obtain a loan at 3.75% compounded monthly to purchase the car. Should she lease or buy the car

> CD Solutions Ltd. manufactures and replicates CDs for software and music recording companies. CD Solutions sells each disc for $2.50. The variable costs per disc are $1.00. 1. To just break even, how many CDs must be sold per month if the fixed costs are

> ChildCare Industries manufactures infant car seats that it sells to retailers for $155 each. The costs to manufacture each additional seat are $65, and the monthly fixed costs are $18,000. 1. How many seats must be sold per year to break even? 2. What wi

> Ingrid processes and bottles jam in her home-based business. Her fixed costs are $250 per month and the variable cost per jar is $1.20. She sells the jam to local grocery stores for $3.20 each. 1. How many jars must she sell per year to break even? 2. Wh

> A sporting goods manufacturer lost $400,000 on sales of $3 million in a year during the last recession. The production lines operated at only 60% of capacity during the year. Variable costs represent one-third of the sales dollars. 1. At what percent of

> Mickey’s Restaurant had a net income last year of $40,000 after fixed costs of $130,000 and total variable costs of $80,000. 1. What was the restaurant’s break-even point in sales dollars? 2. If fixed costs in the current year rise to $140,000 and variab

> In the year just ended, a small appliance manufacturer sold its griddle at the wholesale price of $37.50. The unit variable costs were $13.25, and the monthly fixed costs were $5600. 1. If unit variable costs are expected to rise to $15.00 and fixed cost

> This problem is designed to illustrate how the relative proportions of fixed and variable costs affect a firm’s net income when the sales volume changes. Two hypothetical firms, Hi-Tech and Lo-Tech, manufacture and sell the same product at the same price

> The social committee of a college’s student government is planning the annual graduation dinner and dance. The preferred band can be signed for $1000 plus 10% of ticket revenues. A hall can be rented for $4400. Fire regulations limit the hall to 400 gues

> Genifax reported the following information for September: Sales revenue $180,000 Fixed manufacturing costs 22,000 Fixed marketing and overhead costs 14,000 Total variable costs 120,000 Unit price 9 1. Determine the unit sales required to break even. 2. W

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. -4 900

> Reliable Plastics makes containers that it sells for $2.55 each. Its fixed costs for this product are $2000 per month and the variable cost per unit is $1.30. 1. What is the break-even point in units? 2. What is the break-even sales revenue?

> A college ski club is planning a weekend package for its members. The members will each be charged $270. For a group of 15 or more, the club can purchase a two-day downhill pass and two nights’ accommodation for $220 per person. A 36-passenger capacity b

> The Morgan Company produces two products, G and H, with the following characteristics: Total fixed costs for the year are expected to be $700,000. 1. What will be the net income if the forecast sales are realized? 2. Determine the break-even volumes of t

> In the past year, the Greenwood Corporation had sales of $1,200,000, fixed costs of $400,000, and total variable costs of $600,000. 1. At what sales figure would Greenwood have broken even last year? 2. If sales increase by 15% in the year ahead (but all

> The Kelowna division of Windstream RVs builds the Wanderer model. The division had total revenue of $4,785,000 and a profit of $520,000 on the sale of 165 units in the first half of its financial year. Sales declined to 117 units in the second half of th

> The Woodstock plant of Goodstone Tires manufactures a single line of automobile tires. In its first fiscal quarter, the plant had total revenue of $4,500,000 and net income of $900,000 from the production and sale of 60,000 tires. In the subsequent quart

> Bentley Plastics Ltd. has annual fixed costs of $450,000 and variable costs of $15 per unit. The selling price per unit is $25. 1. What annual unit sales are required to break even? 2. What annual revenue is required to break even? 3. What will be the an

> Reflex Manufacturing Corp. manufactures composters at a unit variable cost of $43. It sells them for $70 each. It can produce a maximum of 3200 composters per month. Annual fixed costs total $648,000. 1. What is the break-even volume per month? 2. What i

> Valley Peat Ltd. sells peat moss for $10 per bag. Variable costs are $7.50 per bag and annual fixed costs are $100,000. 1. How many bags of peat must be sold in a year to break even? 2. What will be the net income for a year in which 60,000 bags of peat

> Beta Inc. has based its budget forecast for next year on the assumption it will operate at 90% of capacity. The budget is: Sales revenue $18,000,000 Fixed costs $10,000,000 Total variable costs $6,000,000 Total costs $16,000,000 Net income $2,000,000 1

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. 10 9

> Alpha Corp. expects to operate at 80% of capacity next year. Its forecast operating budget is Sales revenue $1,200,000 Fixed costs $300,000 Total variable costs $800,000 Total costs $1,100,000 Net income $100,000 1. What is Alpha’s break-even revenue?

> Toys-4-U manufactures a toy that it sells for $30 each. The variable cost per toy is $10 and the fixed costs for this product line are $100,000 per year. They estimate they can produce 8000 toys per production period. 1. What is the break-even point in u

> Leaving other variables unchanged, what effect does increasing the value of S have on: 1. the fixed cost (FC) line? 2. the total cost (TC) line? 3. the total revenue (TR) line? 4. the break-even point?

> Leaving other variables unchanged, what effect does increasing the value of VC have on: 1. the fixed cost (FC) line? 2. the total cost (TC) line? 3. the total revenue (TR) line? 4. the break-even point?

> Reflex Manufacturing Corp. manufactures composters at a unit variable cost of $43. It sells them for $70 each. It can produce a maximum of 3200 composters per month. Annual fixed costs total $648,000. 1. What is the break-even volume per month? 2. What i

> Valley Peat Ltd. sells peat moss for $10 per bag. Variable costs are $7.50 per bag and annual fixed costs are $100,000. 1. How many bags of peat must be sold per year to break even? 2. What will be the net income for a year in which 60,000 bags of peat a

> A small manufacturing operation can produce up to 250 units per week of a product that it sells for $20 per unit. The variable cost per unit is $12, and the fixed costs per week are $1200. 1. How many units must the firm sell per week to break even? 2. D

> Jordan is developing a business plan for a residential building inspection service he wants to start up. Rent and utilities for an office would cost $1000 per month. The fixed costs for a vehicle would be $450 per month. He estimates that the variable of

> Huntsville Office Supplies (HOS) is evaluating the profitability of leasing a photocopier for its customers to use on a self-serve basis at 10¢ per copy. The copier may be leased for $300 per month plus 1.5¢ per copy on a full-service contract. HOS can p

> Clone Computers assembles and packages personal computer systems from brand-name components. Its Home Office PC System is assembled from components costing $1400 per system and sells for $2000. Labour costs for assembly are $100 per system. This product

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. 1 1 11

> Leaving other variables unchanged, what effect does increasing the value of FC have on: 1. the fixed cost (FC) line? 2. the total cost (TC) line? 3. the total revenue (TR) line? 4. the break-even point?

> CD Solutions Ltd. manufactures and replicates CDs for software and music recording companies. CD Solutions sells each disc for $2.50. The variable costs per disc are $1.00. 1. To just break even, how many CDs must be sold per month if the fixed costs are

> Dynacan Ltd. manufactured 10,000 units of product last year and identified the following manufacturing and overhead costs. (V denotes “variable cost” and F denotes “fixed cost.”) Materials used in manufacturing (V) $50,400,000 Wages paid to production wo

> Triax Corp. produced 50,000 gizmos at a total cost of $1,600,000 (including $400,000 of fixed costs) in the fiscal year just completed. If fixed costs and unit variable costs do not change next year, how much will it cost to produce 60,000 gizmos?

> A company’s sales revenue decreased by 15% from one operating period to the next. Assuming no change in the prices of its inputs and outputs, by what percentage did: 1. Fixed costs change? 2. Unit variable costs change? 3. Total variable costs change?

> Below is a list of costs. Classify each of them as variable, fixed, or mixed (a combination of variable and fixed components). 1. Cost of raw materials used in producing a firm’s products 2. Property taxes 3. Wages of sales staff paid on a salary plus co

> Solve the pairs of equations to three-figure accuracy. Verify your solution. d = 3 c - 500 0.7 c + 0.2 d = 550

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. g - h = 17 4 3 g + 3 2 h = 0

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. y = 2 x 7 x − y = 35

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. 7 p − 3 q = 23 −2 p − 3 q = 5

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. 7 7 9

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. 4 a − 3 b = −3 5 a − b = 10

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. y − 3 x = 11 5 x + 30 = 4 y

> A manufacturing firm pays monthly salaries of $5100 to each production worker and $4200 to each assembly worker. As the economy drops into a recession, the firm decides to reduce its total monthly manufacturing payroll from $380,700 to $297,000 by laying

> A partnership in a public accounting practice has seven partners and 12 accounting technicians. Each partner draws the same salary, and each technician is paid the same salary. The partners calculate that if they give the technicians a raise of 8% and if

> A convenience store sells canned soft drinks at $4.35 for a six-pack or 90 cents for a single can. If revenue from the sale of 225 cans of soft drinks on a weekend was $178.35, how many six-packs and how many single cans were sold?

> Solve the pairs of equations using either the substitution or elimination methods. Verify your solution. x − y = 2 3 x + 4 y = 20

> As a fundraiser, a local charity sold raffle tickets on a trip to Disney World at $2 each or three for $5. In all, 3884 tickets were sold for a total of $6925. How many people bought tickets at the three-for-$5 discount?

> In the first week of July, a beer and wine store sold 871 cases of beer and paid refunds on 637 cases of empty bottles, for a net revenue of $12,632.10. For the following week the net revenue was $13,331.70 from the sale of 932 cases and the return of 80

> Tiny-Tot School purchases the same amount of milk and orange juice each week. After price increases from $1.50 to $1.60 per litre of milk and from $1.30 to $1.37 per can of frozen orange juice, the weekly bill rose from $57.00 to $60.55. How many litres

> Marichka bought five litres of milk and four dozen eggs for $19.51. Lonnie purchased nine litres of milk and three dozen eggs for $22.98. What were the prices for a litre of milk and a dozen eggs?

> Express decimal and percent equivalent forms in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits. -8 3

> Product X requires 30 minutes of machining on a lathe, and Product Y requires 45 minutes of machining. If the lathe was operated for 60.5 hours last week for machining a combined total of 93 units of Products X and Y, how many units of each product were