Write the word or phrase that best completes each statement or answers the question. Solve the problem. Round dollar amounts to the nearest dollar.
Use the straight-line method to complete the depreciation table for a combine harvester that costs $4300, has a salvage value of $300, and has an estimated life of 5 years.
2. Use the table to find the future value. Round to the nearest cent. $15,000 at 1% compounded annually for 3 years
$15,301.50
$15,454.50
$15,450.00
$15,300.00
3. Solve the problem. Round to the nearest cent.
The list price of a car is $8760. It is available at either a 10/20/5 or a 35/30 trade discount series. Which trade discount series gives the better deal? By how much?
10/20/5, $2006.04
10/20/5, $2628.00
35/30, $2628.00
35/30, $2006.04
4. Solve the problem. Round to the nearest cent.
The list price of a keyboard is $788. If the trade discount series offered is 10/30/20, find the net price by using the net decimal equivalent.
$315.20
$472.80
$397.15
$390.85.