MDFL Semester Exam Review: Units 2 & 3

Front

What is the current balance in LaToya's checking account after withdrawing $40, paying a $2.50 fee, depositing $189.73, and writing checks for $22.50 and $70.18?

Back

$168.49

Front

How much does Maxi earn every pay period before taxes if her annual salary is $31,200 and she is paid semimonthly?

Back

$1,300

Front

What is the total price of a $125 pair of shoes after adding a sales tax of 7.55%?

Back

$134.44

Front

If the median annual salary for an event planner is $60,900, how much will they pay in income tax at an 8% rate?

Back

$4,872

Front

What is the cost of a 7-line advertisement in a local newspaper if the cost is determined by a piecewise function?

Back

$32.50

Front

Define 'checking account'.

Back

A checking account is a deposit account held at a financial institution that allows deposits and withdrawals. It typically offers easy access to funds through checks, ATMs, and debit cards.

Front

What is a semimonthly pay period?

Back

A semimonthly pay period is a payment schedule where employees are paid twice a month, typically on specific dates such as the 15th and the last day of the month.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal). Add the result to the original price to find the total cost.

Front

What is the formula to calculate income tax?

Back

Income Tax = Annual Income x Tax Rate.

Front

What is a piecewise function?

Back

A piecewise function is a function that is defined by different expressions based on the input value.