1. Takis Machine Shop paid a base rate for the state's workers' compensation insurance of $9.40 per $100 paid in wages. Takis has a monthly payroll of $53,896.84. After reevaluating the frequency and severity of accidents at machine shops, the state increased the base rate to $10.40 per $100 paid in wages. Assuming the monthly payroll stays the same, how much more will Takis pay each year for state workers' compensation insurance in dollars. Round to the nearest hundredth of a percent.
2. The Madison County tax assessor determined the market value of a home to be $590,000. The rate of assessment in Madison County is 40% of market value. The tax rate is 42.73 mills. Calculate the real estate tax in dollars. Round to the nearest hundredth of a percent.
3. Vanesa Vasquez contributes $2,500 per year to her Roth IRA, an ordinary annuity, starting at age 35. If she earns 7.4% annual interest compounded annually, what is the fair market value of her Roth IRA at age 65? How much interest will she have earned in dollars? Round to the nearest hundredth of a percent.
4. Marty and Roslyn Seymour purchase a GNMA Mortgage issue bond selling at a premium of 103.7% of its $10,000 face value. The bonds are selling at a premium because they have an annual yield of 8.75%. Find the interest rate as a percent? Round to the nearest hundredth of a percent.
5. Ricardo Ramirez took out a single-payment loan for $2,500 at 7.8% ordinary interest to pay his federal income tax bill. If the maturity value of the loan was $2,548.75, in how many days would Ricardo have to pay back the loan?