Unit 7 Mid-Chapter Review (Financial Math housing unit)

Use the interval 25% to 30% to find the monetary range that is recommended for the monthly housing budget in each situation. Round to the nearest dollar. Andres makes $87,250 per year.

• $1,817 to $2,181

• $21,812 to $$26,175

• Cannot be determined

• $1,818 to $2,181

• $21,813 to $26,175

Use the interval 25% to 30% to find the monetary range that is recommended for the monthly situation. Samantha makes $5,200 per month. Select the two answers which would be used to find the range.

• $1,300

• $15,600

• None

• $1,500

• $18,000

Stacy's financial advisor believes that she should spend no more than 24% of her gross monthly income for housing. She has determined that amount is $1,724 per month. Based on this amount and her advisor's recommendation, what is Stacy's annual salary?

• $41,376.00

• $71,483.33

• Answer not given

Barry's monthly gross income is $1,550. He pays 22% of his monthly gross earnings in federal and state taxes and spends 15% of that monthly income to pay off his credit card debt. Barry is also paying off a loan his parents gave him for a new car by sending 5% of his income per month. Barry found an apartment near his work that rents for $900 per month. Will he be able to make the payments without changing the amounts he pays towards his loan and credit card debt? Explain.

• Yes, he has more than the monthly payment

• No, he has less than the monthly payment

• Answer cannot be determined

• Yes, he has less than the monthly payment

• No, he has more than the monthly payment

U-Home Movers charges $75 per hour for loading/unloading services and $90 per hour for packing/unpacking services. Their charge $2.25 per mile for truck rental. Bob is moving a distance of 345 miles and needs 8 hours of loading/unloading and 6 hours of packing/unpacking. What will his moving cost be if the service also charges 8.75

% tax on the total?

• $1,916.25

• $600

• $540

• $2,083.92

• $776.25

The length of a room is 12 1/2 feet. When using 1/4 inch = 1 foot scale, what would be the length of the wall on a floor plan?

• 6.25

• 3.125

• 9.375

• None of the answers
  

The main room of the Torrey Pines Community Center measures 25 feet by 23 feet and has a 10 foot ceiling. It is well-insulated and faces the east side of the house. The manager wants to purchase an air conditioner. He should purchase an air conditioner that is how many BTUs? Round to the nearest next thousand BTUs.

• 17,000

• 16,000

• 16291.67

• 20,000

Yoko plans to put a new wood floor in her den, which is shown in the floor plan. What is the area of the floor? At a cost of $15 per foot, how much will it cost to put down the new floor? Select the square footage and the cost.

• 15

• 307.50

• 4,612.50

• 20.50

• None