MDFL Pre Quiz

Regina is opening a bakery and wants to purchase an ad in her local newspaper to promote her new business. Her local newspaper uses the following to calculate the cost:
f(x) = { 25, when x ≤ 5
25 + 3(x – 5), when x > 5
If Regina takes out an 11-line ad, what was she charged?

• $25

• $43

• $53

• $85

Christopher is choosing a cell phone plan. One plan costs $40 a month and includes 350 minutes. The charge for each minute over 350 is $0.25. The company also offers an unlimited calling plan with a $75 monthly charge. At how many minutes would the cost of the two plans be the same?

• 500

• 490

• 495

• 505

Reggie opened a retirement account with an APR of 4.65% compounded monthly. He is planning to retire in 25 years. About how much will he have in the account when he retires if he deposits $1,250?

• $3,998.43

• $3,978.43

• $3,988.43

• $4,723.97

• $37,391.14

• $37,441.14

• $38,374.14

• $37,169.18

Lily is verifying the accuracy of her paycheck. She earns $14 an hour and works 38 hours each week. Her biweekly deductions are Social Security 6.2%, Medicare 1.45%, federal withholding tax $83.50, state withholding tax $17.50, and health insurance $42.97. What is her net pay if she is paid biweekly?

• $838.12

• $828.97

• $838.63

• $728.22

Catalina works part-time at a bakery earning $12.15 an hour. In the past five days, her time card shows that she worked 8.3, 5.8, 6.3, 4.5, and 7.1 hours. What is her gross pay for the five days?

• $364.50

• $384.00

• $388.80

• $398.80

Dae’Shawn earned $90,200 last year when the Social Security tax was 6.2% of income up to $94,200. His Medicare tax was 1.45%. How much did he pay in Social Security and Medicare taxes last year?

• $6,900.30

• $7,206.30

• $7,000.30

• $6,990.30

Aaron just bought a used car from his cousin for $4,750. When he changes the title and gets license plates, he is required to pay sales tax on the purchase price of the car. If the sales tax rate is 7.85%, how much sales tax does he pay?

• $37,287.50

• $3,728.75

• $372.88

• $37.29

Dustin has a cell phone plan that costs $95, plus an additional $0.25 for every minute over 750 minutes in a month. How much is Dustin’s bill if he used 1,539 minutes last month?

• $392.25

• $293.25

• $282.25

• $292.25

Michael deposited $6,982 at 4.98% interest, compounded continuously, when he was 18 years old. How much will be in the account when he is 43 years old if he made no other deposits or withdrawals?

• $24,248.03

• $24,258.03

• $24,238.03

• $28,481.03