A car was valued at \( \$ 31,000 \) in the year 1995 . The value depreciated to \( \$ 11,000 \) by the year 2003. A) What was the annual rate of change between 1995 and 2003 ? \( r=\square \) Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2007 ? value \( =\$ \)

7. Mohammed borrowed N2500 at \( 4 \% \) p.a. com- pound interest. He repays N600 at the end of each year. Find out during which year the debt will finish.

If you borrow \( \$ 500 \) for 6 months at \( 2 \% \) annual simple interest, how much must you repay at the end of the 6 months?

We deposit \( \$ 17000 \) into an account earning \( 4 \% \) interest compounded semiannually. How many years will it take for the account to grow to \( \$ 42500 \) ? Round to 2 decimal places. \( \square \) years

If you want to earn \( 4 \% \) annual simple interest on an investment, how much should you pay for a note that will be worth \( \$ 18,500 \) in 10 months? (Round your answer to two decimal places.) \( \$ \) Read It

E6-23A. (Learning Objective 2: Compare gross profit-FIFO versus LIFO-falling prices) Suppose a Walmart store in Fillmore, Missouri, ended January 2024 with 900,000 units of merchandise that cost \( \$ 5 \) each. Suppose the store then sold 50,000 units for \( \$ 510,000 \) during February. Further, assume the store made two large purchases during February as follows: Feb \( 10 \quad \begin{array}{rr}10,000 \text { units @ } \$ 3.10=\$ 31,000 \\ 21 & 25,000 \text { units @ } \$ 2.20=\$ 55,000\end{array} \) Requirements 1. Calculaté the store's gross profit under both FIFO and LIFO at February 28. 2. What caused the FIFO and LIFO gross profit figures to differ?