Business Math

Business Math

Grade 11

Multiple Choice

What does collision insurance cover?

• the amount the insured must pay before the insurance company will pay anything

• bodily injury and property damage resulting from a vehicle accident.

• damage to the insured vehicle resulting from a collision with a motor vehicle or other object

Chapter 9: Review and Assessment

Pages 363-371

Objectives

• Determine the miles driven

• Analyze the months of the lease

• Calculate the cost per mile to rent each truck

Open Ended

Krista’s car had $2,780 in fi xed costs and $3,300 in variable costs last year. If her cost per mile was $0.32, how many miles did she drive?

Multiple Choice

Why do we take the variable and fixed costs?

• identify the profitable quantity level for its products or services.

• identify the profitable price level for its products or services.

• identify the profitable level for its products or services.

Open Ended

A car available for lease requires a $1,900 deposit, a $70 title fee, and a $65 license fee. The monthly lease payment is $214. If the total lease cost is $9,739, how many months does the lease last?

Multiple Choice

Why do people lease vehicle?

• monthly payment is considerably less than it would be for buying a car

• monthly payment is considerably more than it would be for a car loan

• monthly payment is considerably less than it would be for a car loan

Open Ended

Ray Cortez rented a 16-foot truck to move into his new apartment. He rented the truck for 2 days at a cost of $37.50 per day plus $0.79 per mile. The collision waiver cost $20.00. Gasoline cost $74.60. Ray drove 220 miles. What was his cost per mile?

Multiple Choice

Why is the cost calculated for a round trip?

• As the vehicle is moving

• As the vehicle travels to and fro

• As the vehicle goes from one place to another

Fill in the Blank

In a _____-end lease you return the vehicle owing nothing unless it is damaged beyond fair wear and tear or exceeds a mileage limit