Solve the problem.Find the APR for a 30-year, $250,000 mortgage at 9% interest compounded monthly and two discount points.
A. 9.25%
B. 9.10%
C. 9.05%
D. 12%
Answer: D
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Solve the problem.The population of a town is currently 15,000. This represents an increase of 20% from the population 5 years ago. Find the population of the town 5 years ago. Round to the nearest whole number if necessary.
A. 12,500 B. 75,000 C. 3000 D. 12,000
Simplify. Assume all variables are non-negative real numbers.
A. 21
B. 7
C. 3
D. 7
Use the order of operations to simplify the expression.7 ? 32 - 
A. 8
B. 62
C. 20
D. 63
Solve. Assume the exercise describes a linear relationship. When writing a linear equation, write the equation in slope-intercept form.In 1985, John invested $37,000 in the stock market. By 1994 his investment had grown to $38,500. If the market continues to grow at the same rate, how much will be in his account in 1997? Give your answer to the nearest dollar.
A. $38,500 B. $37,501 C. $39,000 D. $40,000