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Revision for final MAT112

Total questions: 31

Worksheet time: 1hrs 13mins

Name
Class
Date
1.
Find the common ratio for the geometric sequence.
a)
10
b)
1/2
c)
2
d)
4
2.

What is the 9th term in a geometric sequence with a common ratio of 2 and a first term of 3?

a)

384

b)

768

c)

1,536

d)

27

3.
Find the common difference: -34, -29, -24, -19, ...
a)
d = -5
b)
d = 5
c)
d = -6
d)
d = 6
4.
Is the sequence arithmetic: 37, 31, 25, 19, ...
a)
Yes
b)
No
5.
The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  
a)
the amount of money borrowed or deposited
b)
the percent interest for his year
c)
the amount taxed
d)
the amount the bank owes you for being a customer at their bank
6.
The simple interest formula is I=Prt.  What does the t represent?
a)
Principle
b)
Interest
c)
Time
d)
Percent Rate
7.

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for RM 6,500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?

a)

RM 6500

b)

RM 9910

c)

RM 9100

d)

RM 10260

8.

Mrs. Adele is buying a new tie from Macy's. It says the tie costs RM 15.00 but there is a sign above it that says 25% off. How much will the tie cost before taxes?

a)

RM 3.75

b)

RM 18.75

c)

RM 15.25

d)

RM 11.25

9.

The time between the date a promissory note is signed and the date the note is due is typically expressed in

a)

days

b)

weeks

c)

months

d)

years

10.

You borrowed RM 59,000 for 2 years at 11% which was compounded annually. What total will you pay back?

a)

RM 13,693.90

b)

RM 1,363.90

c)

RM 72,693.90

d)

RM 73,793.90

11.

You deposit RM 2,500 in a savings account.

What is the difference in the amount of interest that will be paid in each situation?

Option A) Interest rate of 8.25% simple interest for 2 years

Option B) Interest rate of 6.5% compounded annually for 2 years

a)

RM 769.40

b)

RM 335.56

c)

RM 76.94

d)

RM 68.52

12.
Semi-Annually means how many times a year?
a)
4 
b)
2
c)
1
d)
6
13.
Change 6.75% to a decimal.
a)
67.5
b)
.675
c)
675
d)
.0675
14.

The definition of annuity ?

a)

A series of equal amount of payment /deposits made at equal intervals time

b)

A series of equal amount of discount made at equal intervals time

c)

A series of equal amount of annuity made at equal intervals time

d)

A series of marvel movie !

15.

What is the formula for amount of annuity ?

a)

S= R (1+i)n + 1iS=\ R\ \frac{\left(1+i\right)^{n\ }+\ 1}{i}

b)

S = R (1+I)n − 1iS\ =\ R\ \frac{\left(1+I\right)^{n\ }-\ 1}{i}

c)

S = R (1+I)n −1IS\ =\ R\ \frac{\left(1+I\right)^{n\ }-1}{I}

d)

S = R (1+i)n −1iS\ =\ R\ \frac{\left(1+i\right)^{n\ }-1}{i}

16.

 S = R (1 + i )n−1iS\ =\ R\ \frac{\left(1\ +\ i\ \right)^n-1}{i}  what is the meaning of  RR  

a)

Recycle

b)

Interest Period

c)

Periodic Payments

d)

Interest Rate 

17.

 A = R 1−(1+i)−niA\ =\ R\ \frac{1-\left(1+i\right)^{-n}}{i} 

 what is the function of this formula?

a)

To find terms of investment 

b)

To find present value of annuity

c)

To find Nemo

d)

To find past annuity

18.

Did you enjoy the class?

a)

yes

b)

no

c)

maybe

19.

If the Cash Price is less than the Selling Price, then there will be a loss.

a)

True

b)

False

20.

You sell T-shirts. If they cost you RM 2.00 each and can sell them for 10.00 how much PROFIT can you make if you sell 10 T-shirts?

a)

RM 30.00

b)

RM 20.00

c)

RM 50.00

d)

RM 10.00

21.
What does break even point show?
a)
where a business is neither making a profit or loss
b)
how many items to make
c)
how much profit they're making
d)
where a business has more fixed costs than variable
22.

The final payment date of a loan is known as the ?

a)

maturity date

b)

loan term

c)

down payment

d)

origination term

23.

Fixed interest rates mean:

a)

you will have the same interest rate for the life of the loan

b)

you will have a different interest rate for the life of the loan

24.
To calculate book value of an asset...
a)
original value times the amount of depreciation
b)
amount of depreciation divided by current value
c)
original value minus amount of depreciation
d)
original value divided by depreciation per year
25.
Which of these produces higher amounts of depreciation expense in the early years of the life of an asset?
a)
Straight Line Method
b)
Declining Balance Method
c)
Sum-of-the-Years Digits
d)
Units-of-Production
26.

Madam Hafizah is a pretty lecturer.

a)

Yes

b)

No

27.

A retailer bought a set of furniture for RM 2800. If the operating expenses amounted to 15% of the selling price and the net profit realized was 20% of the cost, find the selling price

a)

RM 3952.94

b)

RM 3360

c)

RM 1152.94

d)

RM 3392.94

28.

Trade discount = ?

a)

List price - Net price

b)

List price + Net price

c)

List price x Net price

d)

List price ÷\div Net price

29.

ABC Enterprise received an onvoice of RM 6000 dated 12 November 2019. If the invoice had terms of 6/10, 4/20, n/30, find the last payment dayte to receive the cash discount of 4%?

a)

1 December 2019

b)

2 December 2019

c)

3 December 2019

d)

22 November 2019

30.

Suzie intends to invest RM 200 every month for 2 years 5 months at 10% compunded monthly. Find the future value.

a)

RM 6530.28

b)

RM 5000

c)

RM 6830.26

d)

RM 6503.28

31.

A retailer bought a set of furniture for RM 2800. If the operating expenses amounted to 15% of the selling price and the net profit realized was 20% of the cost, find the selling price

a)

RM 3952.94

b)

RM 3360

c)

RM 1152.94

d)

RM 3392.94

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