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Intro to Financial Math

Total questions: 102

Worksheet time: 3hrs 52mins

Name
Class
Date
1.
What is 8.4% of 5L
a)
42L
b)
0.42L
c)
168L
d)
5952.38L
2.
what is 4% of 100 minutes?
a)
40 mins
b)
4 mins
c)
0.25mins
d)
0.04 mins
3.
there was a sale on at the furniture store with everything marked down by 30%. What is the cabinet's new price if it was $860?
a)
$258
b)
$799.80
c)
$602
d)
$2866.67
4.
Ben and Sandy purchased timber to build the frame of their house. They purchased 342m of timber. if wastage was 8%, what length of timber was actually used?
a)
338.52m
b)
27.36m
c)
314.64m
d)
23.08m
5.

A $900 laptop is discounted by 5%. What is the sale price of the laptop?

a)

$45

b)

$855

c)

$904.50

d)

$945

6.

A cake recipe requires 4 eggs, ½ lb. flour, ¼ lb. sugar, and two readymade edible flowers. How much will it cost to make two cakes? Use the following data: eggs = $1.00/dz; flour = $2.50/lb; sugar = $4.50/lb; and flowers = 5 cents each.

a)

A) $2.80

b)

B) $6.41

c)

C) $2.81

d)

D) $5.61 2)

7.

You purchase a car for $1,500. The cost for a title is $150, registration is $75, and sales tax is 8%. What is the total cost for the car?

a)

A) $1,500,725

b)

B) $1

c)

C) $1,120

d)

D) $1,845

8.

Mary has just charged $1,000 on her credit card. If she pays only the interest that accumulates after one month, how much interest would she pay if the APR is 24 percent?

a)

A) $240

b)

B) $10

c)

C) $20

d)

D) $15.75

9.

6) Find the amount due on a loan of $25,000 borrowed for 5 years at 6 1/2 percent simple interest.

a)

A) $8,125

b)

B) $26,625

c)

C) $33,125

d)

D) $1,625

10.

Calculate the amount to be repaid on a principal of $1,750 at 10% annually.

a)

A) $17.50

b)

B) $175

c)

C) $1700

d)

D) $1925

11.

Determine the average of 90, 66, 84, 72, 98.

a)

A) 82

b)

B) 90

c)

C) 102

d)

D) 80

12.

The best way to depict a future prediction is by using a

a)

A) bar chart

b)

B) line chart

c)

C) histogram

d)

D) pie chart

13.

Johnson Construction Supply Company allows trade discounts of 20% to customers from the North Division of the state. Calculate the net selling price on building supplies of $850.00.

a)

$800

b)

$1020

c)

$170

d)

$680

14.

Jim bought a new refrigerator for $1,050.00 on February 12. He purchased it from Siemer's Appliances, which gives customers a cash discount of 3/10, n/30. What is the amount due if Jim pays on February 20?

a)

A) $ 31.50

b)

B) $1,050.00

c)

C) $1,018.50

d)

D) $ 972.00

15.

What is 21 percent of $732?

a)

$ 15.37

b)

$578.28

c)

$153.72

d)

$286.89

16.

In May, Bill received notice that beginning in June he would receive a 3 percent pay raise. If his monthly gross salary in May was $2,000, how much will his gross salary be in June?

a)

$60

b)

$2,600

c)

$600

d)

$2,060

17.

A pair of socks went from $5 to $6, what is the percentage change?

a)

10%

b)

20%

c)

30%

d)

40%

18.

There were 160 smarties in the box yesterday, but now there are 116, what is the percentage decrease?

a)

72.5%

b)

28.5%

c)

27.5%

d)

38%

19.
Which is the better buy?
a)
A 4 pack of t-shirts for $2.24
b)
A 6-pack of t-shirts for $3.12
c)
An 8 pack of t-shirts for $4.24
20.
Elijah earn $200 for 8 hours of work. What is the unit rate (in dollars per hour)?
a)
$50 per hour
b)
$12 per hour
c)
$192 per hour
d)
$25 per hour
21.

A salary is a fixed payment. Typically...

a)

Per Hour

b)

Every Ten Years

c)

Monthly or Biweekly

22.

Ms. Patterson works for a company. Which factor would most likely affect the amount of money Ms. Patterson gets paid by the company?

a)

The amount of money Ms. Patterson has to pay in bills

b)

The size of Ms. Patterson’s family

c)

The amount of money Ms. Patterson saves every month

d)

The work experience Ms. Patterson has

23.

Nina works for a restaurant. The restaurant pays her every week for the work she does. Some weeks she works more hours than other weeks. Which statement is most likely true?

a)

When Nina works fewer hours, she earns more income from the restaurant.

b)

When Nina works more hours, she earns more income from the restaurant.

c)

When Nina works more hours, the restaurant gets less labor from her.

d)

When Nina works fewer hours, the restaurant gets more labor from her.

24.
Routinely paying my bills late could negatively affect my credit history.
a)
True
b)
False
25.
When I apply to borrow money for a car, the loan company will most likely look at my credit history.
a)
True
b)
False
26.
The maximum amount you are allowed to carry as a balance on the card
a)
interest
b)
ARP
c)
credit limit
d)
all of these
27.

The population of a town increased 25% two years ago and then decreased by 25% last year. The population now is 4500 people. What was the population before the two changes?

a)

1406.25

b)

4218.75

c)

4800

d)

14400

28.

A house of value $500 000 depreciates annually by 5%. What will the new value of the house be 3 years from now?

a)

$583175.39

b)

$428687.50

c)

$578812.50

d)

$431654.89

29.

A laptop is selling at BD 309 but after a discount is sold for only BD 250. What was the discount rate?

a)

0.809

b)

80.91%

c)

1.236

d)

19.09%

30.

Sarah invests BD 1.5 million in machinery for her company which depreciates at 8% per year. What is the percentage depreciation on the value of the machinery after 5 years?

a)

34.09%

b)

65.91%

c)

8%

d)

31.94%

31.

John bought a car for $20 000. He sold it for a 30% profit. From the money raised from his sale, he bought another, more expensive car, which he had to sell for a 30% loss. What was the selling price of his second car?

a)

$9 800

b)

$18 200

c)

$33 800

d)

$44 200

32.

After a 12% increase the price of a house is $80 000. What was the price before the increase?

a)

$90 909.09

b)

$70 400

c)

$89600

d)

$71428.57

33.

A mobile phone's price depreciates 5% every 3 months. If the phone is now worth BD 410, what will its price be 3.5 years from now?

a)

BD 811.77

b)

BD 199.95

c)

BD 389.50

d)

BD 342.62

34.

The cost price of an item was $30. The dealer added 40% profit and then the discount during a sale was 40%. Would he make a profit, loss or neither?

a)

Profit

b)

Loss

c)

Neither

35.

A TV is sold at a shop making a profit of 42%. During the sale all prices in the shop are reduced by 25%. The sale price of the TV was BD 372.75. Find the percentage profit or loss.

a)

6.5% profit

b)

6.5% loss

c)

6.1% profit

d)

6.1% loss

36.

A house was bought for BD 200 000. It appreciates at a rate of 5% every 6 months. What will the house be worth 10 years from now?

a)

BD 71 697.18

b)

BD 325 778.93

c)

BD 530 659.54

d)

BD 557 316.20

37.

A pair of shoes were sold for $215. The selling price includes a markup of 40%, VAT of 3% and a discount of 10%. What was the cost price of the shoes?

a)

$279.03

b)

$135.54

c)

$165.66

d)

$149.10

38.

You got 51 out of 85 for a Math test. What was your percentage for the test?

a)

62.5%

b)

60%

c)

51%

d)

66.7%

39.

You got 51 out of 85 for a Math test. What was your percentage for the test?

a)

62.5%

b)

60%

c)

51%

d)

66.7%

40.

A car salesman buys a car for $5700. He adds a mark-up of 40% and VAT of 5% to the selling price. He decides to give a discount of 15% for cash buyers. What will a cash buyer pay for the car?

a)

$1256.85

b)

$10 174.50

c)

$7122.15

d)

$9635.85

41.

367.891 rounded off to one decimal place is:

a)

367.9

b)

367.8

c)

368

d)

370

42.

Calculate 70% of 648. Round off to the nearest whole number.

a)

453.6

b)

453

c)

454

d)

1101

43.

U1: An award of financial aid for a student to further his or her education often based on merit such as academic achievement or athletic skill.

a)

Student Loan

b)

Grant

c)

Scholarship

d)

FAFSA

44.

U1: Monetary award given by the federal, state, or local government to an eligible student for educational expenses and without the expectation of repayment.

a)

Student Loan

b)

Grant

c)

Scholarship

d)

Work-Study

45.

U1: A monthly detailed plan for disbursing your income is called a _____________.

a)

paycheck

b)

bank statement

c)

check register

d)

budget

46.

U2: ____________ is the person who owns the apartment complex or housing you are renting.

a)

Tenet

b)

Landlord

c)

Homeowner

d)

Banker

47.

U2: __________ is the written contract you sign when renting.

a)

Mortgage

b)

Lease

c)

Report Card

d)

Loan Application

48.

U2: __________ is the small amount you pay for routine medical expenses and prescriptions.

a)

Deductible

b)

Copay

c)

Coinsurance

d)

Premium

49.

U2: ___________________ is the time period when you pay a small percentage of your medical expenses and the insurance company pays the bigger percentage.

a)

Coinsurance

b)

Premium

c)

Deductible

d)

Copay

50.

U2: _____________ are a portion of the company’s profits that is regularly shared with its stockholders.

a)

Shares

b)

Dividend

c)

Yield

d)

Commission

51.

U3: How do you find the Total Annual Value of Job

a)

Annual salary + Annual Benefits - Annual Expenses

b)

Annual salary + Annual Benefits + Annual Expenses

c)

Annual salary - Annual Benefits - Annual Expenses

d)

Annual salary - Annual Benefits + Annual Expenses

52.

U3: Which three values must be subtracted to calculate net pay?

a)

Federal Withholding

b)

Medicare

c)

Childcare

d)

Social Security

e)

Gross Pay

53.

U4: In the compound interest formula, n stands for ____________.

a)

number of times compounded per year

b)

number of time money is deposited per year

c)

number of years

54.

U4: Which chart has the n values with the correct time period?

a)
b)
c)
d)
55.

legal tender, Cash

(a)  

56.

the account which allows user to write checks, use a debit card, against deposited funds

a)

investment

b)

checking account

c)

bank loan

d)

savings account

57.

loan consisting of principle and interest payments which is provided by a banking institution or borrower.

a)

online banking

b)

savings account

c)

Bank loan

d)

security

58.

a system allowing individuals to access their banking account and perform banking activities at home, via the internet.

a)

Online Banking

b)

internet banking

c)

web banking

d)

virtual account

59.

The amount borrowed or invested which remains and which interest is applied

a)

Investment

b)

Savings

c)

interest

d)

Principal

60.

SMART goals are? check all that apply

a)

attainable, time-bound

b)

measurable, realistic

c)

testable, reachable

d)

specific

e)

special, accurate

61.

a financial instrument that has value

a)

security

b)

insurance

c)

interest

d)

savings

62.

A deposit account at a financial institution, that pays interest but cannot be withdrawn with a check.

a)

interest account

b)

Savings account

c)

investment account

d)

loan account

63.

Money received earlier is worth more than money received later.

a)

Debt consolidation

b)

Investment strategy

c)

Time Value of money

d)

A penny saved is a penny earned

64.

Setting financial goals to setting financial goals to set aside money on a regular basis for saving.

a)

Pay Yourself First

b)

Pay your bills First

c)

Pay Youssef First

d)

Pay Your mamma First

65.

which of the following help you acquire money? (choose all that apply)

a)

Savings account

b)

Bank loan

c)

Checking account

d)

Investing

66.

Which of the following is involved in the Time Value of Money equation?

a)

Interest

b)

Principal

c)

Final Value/Future Value

d)

Inflation

e)

time

67.

Your health insurance plan has a $1000 annual premium and a $1500 deductible. They have a $30 copay on health exams. They pay 80% of the cost after the deductible.

What do you pay if you are perfectly healthy that year?

a)

Just the premium - $1000

b)

Nothing $0

c)

Just the deductible - $1500

d)

The premium and the deductible.

68.

Your health insurance plan has a $1000 annual premium and a $1500 deductible. They have a $30 copay on health exams. They pay 80% of the cost after the deductible.

What does YOUR INSURANCE pay if you are perfectly healthy that year?

a)

Just the premium - $1000

b)

Nothing $0

c)

Just the deductible - $1500

d)

The premium and the deductible.

69.

Your health insurance plan has a $1000 annual premium and a $1500 deductible. They have a $30 copay on health exams. They pay 80% of the cost after the deductible.

What do you pay that year if you go in for a health check up that costs $120?

a)

Just the premium - $1000

b)

Just your co-pay - $30

c)

Your co-pay plus 20% of what's left plus your premium: 30+24 +1000= $1054

d)

All of it because you haven't reached your deductible and add your premium - $1120

70.

Your health insurance plan has a $1000 annual premium and a $1500 deductible. They have a $30 copay on health exams. They pay 80% of the cost after the deductible.

What do you pay that year if you have to go to the emergency room and it costs $3000?

a)

Just the premium - $1000

b)

The premium and your copay - $1030

c)

Your deductible (1500) plus 20% of the remaining $1500 (600) plus your premium (1000) so $3100 total.

d)

Your deductible (1500) plus your premium (1000) plus 20% of the remaining $500 (100). $2600 total

71.
If you are calculating the simple interest and you are given the time in months, how can you find the time in years?
a)
Add 12 to the months
b)
divide the months by 12
c)
multiply 12 times the months
d)
You cannot change it to months.
72.
If you are calculating the simple interest and you are given the time in months, how can you find the time in years?
a)
Add 12 to the months
b)
divide the months by 12
c)
multiply 12 times the months
d)
You cannot change it to months.
73.

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% in simple interest. What will be his balance after 15 years?

a)

$270.75

b)

$745.75

c)

$2,707.50

d)

$846.80

74.
Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?
a)
$23,285.05
b)
$3,285.05
c)
$2,385
d)
$32,285
75.
Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?
a)
$6,273.50  frustrated
b)
$6,314.08 bewildered
c)
$6,385.72         pleased
d)
$6,427.94           tickled pink
76.
How many times a year does semiannual mean?
a)
1
b)
2
c)
4
d)
12
77.

Manuel took out a loan for $3,500 at an APR of 8% for 60 months. What is his monthly payment?

a)

$7,105.00

b)

$71.05

c)

$81.80

d)

$77.35

78.

Your monthly payment on a loan of $20,000 is $144 for 15 years. How much do you pay over the lifetime of the loan?

a)

$20,000

b)

$2,592,000

c)

$25,920

d)

$1,728

79.

Your monthly payment on a loan of $20,000 is $144 for 15 years. How much INTEREST did you pay on the loan?

a)

$144

b)

$0

c)

$5,920

d)

$1,728

80.

Total return is

a)

expressed as a percent and found by calculating (new-old)/old times 100

b)

Just the dollar difference between new-old

81.

Owners of _______________ can vote for the board of directors and on issues that come up at annual meetings

a)

dividends

b)

Preferred stock

c)

Common stock

82.

When Jan buys shares of BarNone Candy stock, she becomes

a)

an entrepreneur

b)

a partial owner of a the company

c)

a lender

83.

The Board of Directors of Kodak Company voted to share some of the profits with its shareholders. They have decided to issue

a)

dividends

b)

bonds

c)

bonuses

84.

Why are investments riskier than savings?

a)

companies don't care about you

b)

it is not your money

c)

there are more unknowns

85.

To be diversified, a portfolio must hold bonds as well as stocks.

a)

True

b)

False

86.
What is the stock market?
a)
A type of farmers market where people buy and sell food.
b)
A place where parts of businesses are bought and sold.
c)
A special type of grocery store that sells stocks.
d)
A type of bank that gives out loans to new businesses.
87.
The name for a part of a business that is bought and sold on the stock market is:
a)
Part
b)
Marker
c)
Stocker
d)
Share
88.
You can buy stock in any company in the world.
a)
True, all companies are required to offer stock.
b)
False, a company is only listed on the stock exchange if it wants to be.
89.
Apple is releasing a new iPhone that is predicted to change the cell phone world.  Millions of people have pre-ordered it.  What do you think will happen to their stock?
a)
It is likely to go up.
b)
It is likely to go down.
90.
You have $250 that you are willing to invest in Apple's stock.  If Apple's stock is selling for $113.05 a share, how many shares could you buy?
a)
1
b)
2
c)
3
d)
4
91.
Over the course of the day, the head of Apple's company is imprisoned for not paying his taxes.  What do you think will happen to Apple's stock?
a)
It will go up.
b)
It will go down.
92.
Apple stock plummets and now you have to decide if you hold onto your stock in the hopes that it goes back up, or sell it at a loss.  Apple stock is now selling or $54.76 a share.  You have 2 shares.  When you first bought them their total value was $226.10.  What is their total value now?
a)
109.52
b)
22.10
c)
557.22
d)
5.05
93.

Stocks, bonds and mutual funds are all part of:

a)

an initial public offering

b)

an industry sector

c)

a diversified portfolio

94.

Holding _________ from several different sectors ____________ your portfolio

a)

bonds, specializes

b)

stocks, marginalizes

c)

stocks, diversifies

95.

Diversification creates

a)

more risk in a portfolio

b)

less diversity in a portfolio

c)

less risk in a portfolio

96.
Some companies are owned by families or a small number of investors and do not issue stock to the public. These companies are known as __________ held companies.
a)
Publicly
b)
Privately
97.
A __________ is part of the company’s __________ that the board of directors decides to distribute to the __________. 
a)
Dividend, Profit, Stockholders
b)
Profit, Dividend, Stockholders
c)
Dividend, Stockholder, Profit
98.
If a stockholder sells his/her shares for less than he or she paid for them, the stockholder has experienced a __________.
a)
Profit
b)
Loss
99.
Hayden’s team purchased 100 shares of Tiffany and Co. stock for $52.50/share. Two weeks later, the team decided to sell their 100 shares of Tiffany and Co. stock at the current market price of $55.25/share. Excluding commissions, how much money was gained or lost on the sale?
a)
$275 gain
b)
$675 gain
c)
$275 loss
d)
$675 loss
100.

Donating to an organization that collects money, goods, or services to groups in need

a)

Charitable giving

b)

Credit

c)

Income

d)

Savings

101.

Abilities, skills, and education that helps to make a worker more valuable and more productive for the company or organization

a)

Charity

b)

Interest

c)

Human capital/labor

d)

Spending

102.

Setting aside money earned or received for future use

a)

Income

b)

Spending

c)

Saving

d)

Interest Paid

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