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WorksheetsBusiness Math--anytime
Total questions: 25
Worksheet time: 41mins
Name
Class
Date
1.
$1710 at 15% simple interest for 3 3/4 years. What is the ending balance?
a)
$961.88
b)
$1966.50
c)
$2888.11
d)
2671.88
2.
Jackson made 48 car payments in the amount of 336.80. How much did he pay for the car, including interest?
a)
33680.00
b)
16,166.4
c)
not enough information
3.
The Principal and Interest are always___________.
a)
fraction
b)
decimal
c)
percent
d)
dollar amount
4.
If the time is given in months, you must first _____________ by 12.
a)
add
b)
subtract
c)
multiply
d)
divide
5.
Mr. Peterson paid $1,020 in interest for a loan, which was given to him at a rate of 5% for 3 years. How much money did he borrow originally?
a)
$5,400
b)
$6,800
c)
$3,240
d)
$14,620
6.
You lend $240 to your friend. He pays you back $270. What interest rate did you charge your friend?
a)
88%
b)
20%
c)
12.5%
d)
10%
7.
True of False: Before you can calculate INTEREST your time must be in MONTHS!
a)
FALSE
b)
TRUE
8.
Used to withdraw cash or make deposits.
a)
Debit card
b)
PIN
c)
ATM
d)
Check register
9.
A legal document that functions like cash.
a)
Check
b)
ATM
c)
Deposit slip
d)
PIN
10.
All ATM machines charge a fee to use them.
a)
True
b)
False
11.
A person is depositing $20 in cash and a check for $50. On the checking account deposit slip, the person should
a)
include the reason that both cash and a check are being deposited.
b)
indicate what bank issued the check that is being deposited.
c)
indicate the amount of money that is currently in the checking account as well as in a savings account to cover the check.
d)
list the cash deposit separately from the check as well as the total of the deposit.
12.
What do you buy with a mortgage?
a)
house
b)
car
c)
business
d)
computer
13.
How do financial institutions make most of their money?
a)
fees
b)
interest
c)
mutual funds
d)
principles
14.
How much does FDIC protect a person up to?
a)
100,000
b)
150,000
c)
200,000
d)
250,000
15.
What is a principle?
a)
money borrowed
b)
money owe
c)
money added on to an account
d)
value of item
16.
I = P x R x T, what does T stand for?
a)
Time in years
b)
Time in months
c)
Time in days
d)
Interest Rate
17.
On a check, "Pay to the Order of" means the name of the person who is writing the check.
a)
True
b)
False
18.
On a deposit ticket, "Less Cash Received" means that you are requesting money back from the deposit.
a)
True
b)
False
19.
A car salesperson receives a commission of 8% on all sales. If he sold $40,000 worth of cars in one week, find his commission.
a)
$320,000.00
b)
$5000.00
c)
$3200.00
20.
The total amount you earn before any deductions are subtracted is called __________ pay.
a)
Bonus
b)
Gross
c)
Incentive
d)
Net
21.
Tony is married with two kids, how many exemptions can he claim?
a)
One
b)
Two
c)
Three
d)
Four
22.
Jim makes $65,000 per year, has exemptions of $10,000, what is the annual state income tax paid? State Tax Rate = 4%
a)
$2600
b)
$2000
c)
$2200
d)
$3200
23.
Chad's monthly gross salary is $2540. He pays 6.2% SS Tax, 1.45% Medicare Tax, and $153.80 for health insurance. What is his monthly net pay?
a)
$2254.87
b)
$2191.89
c)
$2386.20
d)
I'm lost...help!
24.
Payment based on the percentage of sales is ____.
a)
Tips
b)
Piecework
c)
Hourly Rate
d)
Commission
25.
A car salesman sold $20,000 worth of cars. He gets 30% commission, but pays 4% in taxes. How much net pay (after taxes) will he earn?
a)
$5,634
b)
$5,760
c)
$5,465
d)
$5, 569
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