ASK YOUR TEACHER PRACTICE ANOTHER If you make \( \$ 27,200 \) and get \( \$ 1700 \) raises each year, in how many years will your salary double? (Assume you do not receive a raise the year you are hired.) yr

e) \( \$ 12500 \) invested on 10 years at \( 0.7 \% \) per month

What was an economic cause of the French Revolution? A. a lack of representation of the third estate in the Estates-General B. increased influence of French thinkers such as Rousseau and Locke C. the government's decision to raise taxes to pay its huge debts D. the rise of Napoleon and his rallying of the citizens against the monarch

To purchase \( \$ 14,300 \) worth of machinery for her business, Christine made a down payment of \( \$ 1500 \) and took out a business loan for the rest. After 2 years of paying monthly payments of \( \$ 567.31 \), she finally paid off the loan. \( \begin{array}{ll}\text { (a) } \begin{array}{l}\text { What was the total amount Christine ended up paying for the machinery } \\ \text { (including the down payment and monthly payments)? } \\ \$ \square\end{array} \\ \text { (b) How much interest did Christine pay on the loan? }\end{array} \)

se the appropriate compound interest formula to find the amount that will be in each account, given the stated conditions. \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest lor 2 yeas ) daily ( \( \mathrm{n}=365 \) ); (b) continuously a) The amount that \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest for 2 years compounded daily ( \( n=365 \) ) is \( \$ 28,164.34 \) Round to the nearest cent as needed.) (b) The amount that \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest for 2 years compounded continuously is \( \$ 28,113.20 \) (Round to the nearest cent as needed.)

To pay for an \( \$ 18,500 \) motorcycle, Chris made a down payment of \( \$ 4500 \) and took out a loan for the rest. On the loan, he paid monthly payments of \( \$ 309.89 \) for 4 years. \( \begin{array}{ll}\text { (a) } \begin{array}{l}\text { What was the total amount chris ended up paying for the motorcycle } \\ \text { (including the down payment and monthly payments)? } \\ \$ \square\end{array} \\ \text { (b) How much interest did Chris pay on the loan? }\end{array} \)