a) Calculate the amount of simple
interest earned : $3,500 at 7% for 3 years
b) Find the future value : $475
at 3.25% compounded daily for 5 years
c) Karen and Wayne need to buy a
refrigerator because theirs just broke. Unfortunately, their
savings account is depleted, and they will need to borrow money in
order to buy a new one. Sears offers them an installment loan at 16
%( add-on rate). If the refrigerator at Sears costs $1,540 plus 5%
sales tax, and Karen and Wayne plan to pay for the refrigerator for
3 years, what is the monthly payment?