All chapters
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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| Convert this decimal to a percent. .63 | 6.3%
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| Convert this percent to a decimal. 9.6% | 0.096
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| Convert this fraction to a percent. 3/8 | 37.5%
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| A "B" grade on a certain test is 85%. How many questions can you miss on a 20-question exam to get a B? | 3
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| The population of a town increased from 18,225 last year to 19,191 this year. What is the percent increase? | 9.1% Increase
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| 70 is 40% of what number? | 175
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| 92 is what percent of 80? | 115%
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| Your boss promises you a 15% pay raise in 2 months. If you currently earn $10.80 an hour, what will your hourly rate be in 2 months? | $12.42
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| An invoice for $122.34 has terms of 3/10, 1/20, n/45. If you make payment 17 days after the invoice date, what amount should you pay? | $121.12
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| A trade discount is given as an incentive to pay the seller promptly. (T or F) | False
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| Markup can be used for pricing services. (T or F) | True
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| Ike Penrose sells oriental rugs. Ike buys a rug for $1,850. Based on an 80% markup on cost, at what price should Ike resell the rug? | $3,330
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| If a retailer sells a $1,200 refrigerator at $320 off, what is the reduced price? | $880
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| A hot tube, originally priced at $9,350, is marked down to $7,975. What is the percent markdown? | 14.7%
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| Employers cannot provide overtime pay that exceeds time and a half. (T or F) | False
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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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| For Problems 1-7, consider a loan in which you borrow $5,000 on March 10 for 6 months at 8% interest. |
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| Problem #1: What is the principal amount? | $5,000
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| Problem #2: What is the term? | 6 months
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| Problem #5: What is the maturity value? | $5,200
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| You get a 180-day $3,000 consumer loan at 11% . You are required to pay a $100 setup fee at the time you get the loan. What is your APR? | 18.37%
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| 6% compounded semiannually | 3%
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| 9% compounded quarterly | 2.25%
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| 10.5% compounded monthly | 0.875%
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| Laurie Ingalls loans a friend $400 at 5% simple interest for 3 years. What is the maturity value? | $448
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| For Problems 1-5, assume you deposit $1,500 today in a savings account. You earn 7.5%, compounded semi-annually. You deposit an additional $250 at the end of each 6 months. At the end of 5 years, you withdraw the balance of $5,134.53. Identify each value. |
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| Problem #1: n? | 10 years
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| Problem #2: i? | 3.75%
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| Problem #4: PMT? | $250
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| Gregg Levan is 45 years old and deposits $1,000 at the end of every 6 months into an individual retirement account (IRA). If the account earns 6.45% compounded semi-annually, how much will Gregg have when he retires 22 years later? | $508,640.18
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| Brain's uncle gives all of his nieces and nephews $4,000 on their 30th birthdays. Brain just turned 21. What is the value of the $4,000 gift, in today's dollars, assuming that Brain can earn 8.3% compounded annually? | -$3,093.05
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| You are thinking about buying a hot tub priced at $24,999. Your bank will loan you $20,500 at 7.7% for 5 years. Determine your monthly payment. | -412.73
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| Calculate the monthly payment on a 25-year $450,000 mortgage loan at 6 7/8% interest. | -3,144.71
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| You get a $550,000 mortgage loan with 1 1/4 points. What dollar amount do you pay for points? | $6875
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| Determine the recovery period of the Fence. | 7 years
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| For Problems 4-7, consider weekly TV sales of Judy's Appliance Store. Eight TV sets were sold: $359; $329; $575; $3,700; $285; $359; and $285. |
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| Problem#4: What is the mean? | $772.13
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| Problem#5: What is the median? | $344
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| Problem#6: Which TV was the most popular? (That is, what is the mode?) | $285
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