Asked by Sarah

1.   The Hamilton Brush Company issued 2,500 shares of common stock worth $100,000.00 total. What is the par value of each share? 

    A. $25.00 B. $400.00 C. $250.00 D. $40.00

My choice is either A C or D?
I divided 100,000.00 by 2,500 and got exactly 40. But again as I said not sure?
Answered by Sarah
2.   Jane Marko buys a car for $11,400.00. In three years, the car depreciates 48% in value. How much is the car worth in three years? 

    A. $5,928.00 B. $4,788.00 C. $5,472.00 D. $3,800.00

I am saying A?
Am I right?
Answered by Ms. Sue
This is probably the answer programmed into the answer key.

However, your information appears to be out of date. According to this site, stocks have no intrinsic par value.

http://www.investopedia.com/ask/answers/106.asp
Answered by Ms. Sue
Yes, 2 is A.

Answered by Sarah


3.   Ray Cupple bought a basic car costing $10,150.00, with options costing $738.00. There is a 6% sales tax in his state and a combined $50.00 license and registration fee. What was Ray's total cost? 

    A. $11,591.28 B. $11,541.28 C. $10,938.00 D. $11,547.00

My answer would be A?
Am I right?
Answered by Ms. Sue
Yes, Right again!
3. A
Answered by Sarah
Ms.Sue do you know in any way how to solve number 1. I read the site but don't know how to solve the question?
Answered by Ms. Sue
I already told you that D is probably the answer that's programmed into the answer key for number 1.
Answered by Sarah
5.   Marlin Davies buys a truck for $28,000. In three years, the car depreciates 48% in value. How much is the car worth in three years? 

    A. $14,560 B. $27,052 C. $12,005 D. $14,000

I would say B or D?
Please correct if I am wrong some where.
Answered by Ms. Sue
5. Neither answer is correct.

Answered by Sarah
Is there a way to solve this question?
Answered by Sarah
  The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry _______ insurance. 

    A. liability B. collision C. medical D. no-fault

My best answer will have to be A . liability
Answered by Ms. Sue
Is there a way to solve this question?

Yes. Didn't you solve a similar problem?

About insurance -- I disagree with your answer.

http://www.carsdirect.com/car-insurance/knowing-when-to-get-rid-of-collision-coverage
Answered by Sarah
It's c medical.
Answered by Ms. Sue
No. The bank doesn't care about medical insurance. It's only interested in your car.
Answered by Ms. Sue
I had a reason for posting the last link.

Answered by Sarah
I'm sorry it's collision,I messed up the questions that had the same answers!
Answered by Sarah
Ms.Sue would number 5 be A?
Answered by Ms. Sue
Yes.
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