EOC Final Exam Review Fall 2024

Front

What is the formula to calculate sales tax?

Back

Sales Tax = Purchase Price × Sales Tax Rate

Front

If Ruth buys a car for $48,668 and the sales tax rate is 6%, how much will she pay in sales tax?

Back

Sales Tax = 0.06 × 48668 = $2,920.08

Front

How do you calculate hourly wage from weekly earnings?

Back

Hourly Wage = Weekly Earnings ÷ Hours Worked per Week

Front

If Rhonda earns $550 per week and works 40 hours, what is her hourly wage?

Back

Hourly Wage = 550 ÷ 40 = $13.75

Front

What is the formula to calculate a salary raise?

Back

New Salary = Current Salary + (Current Salary × Raise Percentage)

Front

If Elizabeth's current salary is $72,580 and she receives a 9.1% raise, what will her new salary be?

Back

New Salary = 72580 + (72580 × 0.091) = $79,184.78

Front

What is a dividend in the context of stocks?

Back

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

Front

If Elyse owns 5000 shares and receives a quarterly dividend of $0.30 per share, how much will she receive in a year?

Back

Annual Dividend = 5000 shares × $0.30 × 4 quarters = $6,000

Front

What is the total amount paid for a car including sales tax?

Back

Total Amount = Purchase Price + Sales Tax

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide by 100 (e.g., 6% = 0.06).