A chief Executive Officer of an investment firm receives a gross salary Andrew $675,000 per annum.

a) What is his periodic gross payments if he is paid monthly? —> round answer to nearest cent

 

b) What is his periodic gross payments if he is paid bi-weekly? —> Round answer to the nearest cent

A car dealership accepto payments for a car in installments: $60 per month for the first 3 years and $50 dollars per month for the next 2 years. Each installment is to be paid at the beginning of each month. What is the price of the car if the dealership charges interest (included in these payments) at the nominal rate (APR) of 4% compounded monthly. Round your answer to the nearest cent and write a concluding sentence in the box provided.

4. The two parts of this question are independent of each other. (a) A car is purchased for $8,995 down now plus bi-weekly payments of $276 for four years. Interest is 5.2% APR compounding bi-weekly and all payments are made at the beginning of each bi-weekly compounding period. Calculate the "cash price of the car rounded up to the nearest dollar. [7 points) ("Cash price” = full price now, "bi-weekly” = every other week, 1 year = 52 weeks) (b) One of your MATA32F professors claims that an investment at 7.3% APR can yield a 25% return on that investment at the end of three years. Do you believe them? Justify your answer with an appropriate calculation. (5 points)

15 percent of all sales at Al’s Diner are cash payments. If cash sales for the week were $1,250.00, what were Al’s totals sales?

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Round to the nearest cent