Unit 6 Mid unit review 2023

Suppose someone makes $23.50 per hour and time and a half for overtime (over 40 hours in a week). How much would their gross weekly pay be for a week when they worked 56 hours?

• $1,504

• $1,316

• $1,450

• $1,630

• $1,250

Which of the following is interest compounded on principal and accumulated interest?

• Annual Interest

• Lack of Interest

• Simple Interest

• Compound Interest

• Calculated Interest

Suppose we have an account with a balance of $23.98 (it earns 5.7% compounded monthly) If we were to make regular weekly deposits of $20 how long would it take us to get a total of $2,400?

• About 2.3 months

• About 2.3 years

• About 27.8 years

• About 2.1 years

• About 1.8 years

A saleswoman makes an annual salary of $34,900 and a commission of 4% on the gross profit of sales. One month she sold $28,900 worth of inventory (that cost the company $7,345 to purchase). What would her monthly gross pay be?

• $3,470.21

• $3,245.90

• $862.20

• $2,908.33

• $3,770.53

Which of the following would most likely be non-exempt from overtime laws?

• Stock Broker

• Waffle House manager

• Insurance saleseman

• Shaw empolyee

• High School teacher

We would like to go on a Cruise which costs $2999.99. We have a savings account that currently has $845.66 in it. The account earns 5.6% interest compounded monthly. We can afford to put $75 in each week. How long do we need to save so that we have just enough to purchase the cruise?

• 25.7 months

• 12.6 months

• 6.99 months

• 5.4 months

• 7.32 months

If we put $250 into a savings account that earns 4.5% interest compounded annually, how much would be in the account after 6 years?

• $333.18

• $255.68

• $325.57

• $327.33

• $327.16

Suppose that an office manager earns $87,400 per year salary. If she works an average of 53 hours a week for 49 weeks of the year, what is her gross hourly pay?

• $32.78

• $33.65

• $29.54

• $35.89

• $32.19

We just found a missing savings account that currently has $459.04 in it. If it was opened three years ago and the account earns 5.5% interest compounded monthly, how much was used to open the account?

• $66.80

• $389.36

• $452.79

• $313.89

• $377.45

Which of the following represents the highest federal tax bracket a person is taxed at?

• Taxation without Representation

• State Tax

• Federal Tax

• Average Tax

• Marginal Tax