Unit 5 Test Review

Esteban is applying for a job as an accountant and will make $88,202 if he gets the job. What will Esteban’s weekly gross pay be if he gets the job?

• 7350.16

• 1696.19

• 1837.54

• 1543.25

Answer explanation

88202/52

There are 52 weeks in a year

Deana is a registered nurse and makes $6250 monthly. What is her average weekly income?

• 1562.50

• 1442.31

• 1442.30

• 1562.51

Answer explanation

6250*12=75000 yearly

75000/52wks=1442.31

Lily is working as a waitress. She earns $3.50 per hour plus tips.

Last week, Lily worked 3 days for 6.5 hours each. Her tips totaled $136.25.

Find Chandra's total gross pay.

• 68.25

• 236

• 204.50

• 124

Answer explanation

3days*6.5hrs=19.5 hrs total

19.5hrs*$3.50=68.25

68.25+tips

Bernie’s gross pay was 5,225 this month. Use the table to calculate what his net pay will be

• 3878.56

• 4223.65

• 3679.76

• 4046.76

The amount earned by an insurance salesman is a percentage of the dollar value of the policies sold. If a salesman earns $4062.50 for sales of policies valued at $325,000, then what would the salesman earn on policies valued at $175,000?

• 2187.50

• 21875.00

• 1234.60

• 12346.00

Answer explanation

4062.50/325000 to find the commission rate

Then multiply that commission rate by 175,000.

Julio’s gross income is $62,000. When filing his income taxes, he plans to take the standard deduction of $15,300. What is his adjusted gross income?

Answer explanation

Adj gross=Gross-deductions

Serena pays $6000 in property tax each year. Her adjusted gross income is $70,200. What percentage of her adjusted gross income is she paying in property tax?

• 8.5%

• 8%

• 9.3%

• 11.7%

Answer explanation

Taxes/income=decimal

Convert to percent

Goldie's adjusted gross income is $48,000. People with her income level are assessed a tax fee of $1,250 plus a 11% marginal tax on the amount over $30,000. How much will Goldie pay in taxes?

• 1448

• 18000

• 3230

• 2560

Answer explanation

1250+.11(x-30000)

X represents Goldie’s income

Sara had $4.36 left in her checking account which charges $35 for each overdraft.  She used her debit card to purchase an item for $12.73.  What amount is in her checking account after the purchase including the overdraft fees?

• -6.26

• -8.37

• -43.37

• -39.36

Answer explanation

Subtract the debit card purchase and the overdraft fees from her current total

Find the net earnings

• 3234.09

• 3364.09

• 4286.75

• 3825.75