Rewiew
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Markup can be used for pricing service.(T or F) | True
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| Ike has the chance to buy a used rug that he thinks he can resell for $1,200. If Ike needs an 80% markup on cost, what price should Ike pay? | Cost=$666.67
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| Clyde Spratt sold 18 vacuum cleaners during the week. If Clyde earns $40 per sale, what is his gross pay for the week? | $720
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| Melanie Stobart assembles tents. She is paid $8.50 per hour plus $3.50 per tent. During the week, Melanie worked 40 hours and completed 48 tents. Calculate Melanie's gross pay for the week. | Gross Pay $508
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| What is the maturity value? | $5,200
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| What is the term? | 6 months
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| Markup can be used for pricing service.(T or F) | True
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| Ike has the chance to buy a used rug that he thinks he can resell for $1,200. If Ike needs an 80% markup on cost, what price should Ike pay? | Cost=$666.67
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| Clyde Spratt sold 18 vacuum cleaners during the week. If Clyde earns $40 per sale, what is his gross pay for the week? | $720
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| Melanie Stobart assembles tents. She is paid $8.50 per hour plus $3.50 per tent. During the week, Melanie worked 40 hours and completed 48 tents. Calculate Melanie's gross pay for the week. | Gross Pay $508
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| What is the maturity value? | $5,200
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| What is the term? | 6 months
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| Dependable Appliance Company advertises a refrigerator at a 15% discount, based on an original marked price of $900. What is the reduced price? | $765
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| What should the selling price be? | Selling Price=$240
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| A hot tub, originally priced at $9,350, is marked down to $7,975. What is the percent markdown? | 14.7%
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| A pet shop purchased an exotic fish for $75. if the fish is priced at $187.50, what is the dollar amount of markup? | $112.50
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| What is the dollar amount of markup on a parrot that costs $120? | $120
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| Simple Interest Formula | Principal x Rate x Time = Interest
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| The Truth in Lending Act applies to business loans. (T or F) | False
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| How much interest will you owe on the maturity date? | $337.32
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