Consumer Math Semester Exam Review

Front

What is the formula to calculate annual deductions from weekly deductions?

Back

Annual Deduction = Weekly Deduction x 52

Front

If 1/5 of a class is absent, what percent of the class is absent?

Back

20% (1/5 = 0.2, which is 20%)

Front

How do you calculate hourly wage from total pay and hours worked?

Back

Hourly Wage = Total Pay / Hours Worked

Front

What is the total cost if a movie ticket is $10, soda is $3, and popcorn is $4?

Back

Total Cost = $10 + $3 + $4 = $17

Front

How do you convert a fraction to a percentage?

Back

Multiply the fraction by 100. For example, 1/5 = 0.2 x 100 = 20%.

Front

What is FICA and what does it cover?

Back

FICA stands for Federal Insurance Contributions Act; it funds Social Security and Medicare.

Front

How do you calculate the difference between two numbers?

Back

Difference = Larger Number - Smaller Number.

Front

What is the significance of understanding deductions in a paycheck?

Back

Deductions affect take-home pay and understanding them helps in budgeting.

Front

If a theater ticket costs $12, how much would 3 tickets cost?

Back

Total Cost = 3 x $12 = $36.

Front

What is the formula for calculating total expenses?

Back

Total Expenses = Sum of all individual expenses.