Worksheets2018 NYS FBLA SLC INTRODUCTION TO FINANCIAL MATH
Total questions: 100
Worksheet time: 50mins
Dan Williams took out a simple interest loan at 14.5% interest for 12 months. His previous balance is $119.42. What is the final payment if the loan is paid off with the next payment?
$98.74
$132.90
$120.86
$151.23
Paula Brock wants to purchase a four-year-old V6 sedan 4-door, which is advertised at $11,925. The car has no air-conditioning and no power seats. It has been driven 49,000 miles. The used-vehicle guide does not indicate any adjustment for this car’s mileage. What is the average retail price for this vehicle?
$2,560
$10,908
$9,750
$10,975
Shashi Ram wants to buy software to help him with his income tax. The software regularly sells for
$54.00. The sale price is $37.99. What is the markdown?
$15.99
$15.01
$16.99
$16.01
Ben Snell has $400 in his savings account. His annual interest rate is 4%. What is the interest after six months?
$6
$7
$16
$8
Find the average daily balance (new purchases included).
$6,877.21
$6,976.00
$6,954.30
$6,538.05
Exemptions may include
those in an employee’s family who are not dependents.
taxable income including all deductions.
taxable income less all deductions.
those in an employee’s family who are dependents.
Car dealer Lisa Kovach paid 82% of a car’s options totaling $3,098. She paid 85% on a base price of
$15,480. The destination charge was $890. What is the dealer’s cost?
$19,001.20
$13,158.00
$15,688.36
$18,020.36
Thomas Peters purchased a new SUV for $32,984. He received a $2,175 rebate from the car dealer and a
$500 rebate from the manufacturer. What is the final price?
$30,309
$32,309
$29,309
$31,309
Aneas Arnold sells lighting supplies. She travels all over New England. Her total monthly expenses for
August, September, and October were $2,700, $1,100, and $2,200. What was her average monthly
expenditure?
$6,000
$1,800
$3,000
$2,200
Cordell Johnson purchased a snow blower for $237.00 and two bags of rock salt for $3.15 each. What is
the sales tax on his purchases if he lives in Maine where the sales tax rate is 5%?
$12.21
$12.01
$12.17
$13.02
Zach Mazrahi can buy a dozen pencils for $1.89, 24 pencils for $3.60, or 36 pencils for $5.49. What is the
best buy?
36 pencils for $5.49
24 pencils for $3.60
A dozen pencils for $1.89
All are the same price.
Jason Ayers works as a lifeguard earning $8.75 an hour for 20 hours per week. What is Jason’s straight-time pay for the week?
$170.00
$170.50
$175.00
$165.00
Julie Meier is the manager for the ACE Trucking Company. During December she worked 165 hours and was paid $27 per hour. What was her straight-time pay for December?
$4,455
$4,500
$4,450
$4,400
Find the average daily balance (new purchases included).
$154.33
$132.22
$90.32
$98.27
Adele Palmer’s charge account statement showed a previous balance of $1,500, a finance charge of $5,
new purchases of $150, and a payment of $80.00. What is her new balance?
$1,575
$1,585
$1,654
$1,475
Colleen Truman earns a 4.5% commission on all sales. In June, her sales totaled $40,000. How much did she earn in commission?
$14,500
$1,800
$1,080
$18,000
The regular selling price of a recliner at Furniture Depot is $289. The markdown rate is 33%. What is the sale price?
$139.36
$193.63
$231.52
$213.25
Dr. McCoy earns $51,233 teaching at the university. What is his weekly salary?
$1,970.00
$1,970.50
$985.25
$1,024.66
Odette Alverez works at the Digitech Warehouse eight hours a day, earning $9.48 an hour. She is asked to work two additional hours at time and a half to help prepare for an incoming shipment of merchandise. How much will she earn for these two hours of overtime?
$28.44
$28.75
$28.74
$28.00
Sam Collins wants to get the best deal in cereal he can find. He finds rice puffs for $2.49 for 24 ounces,
$2.69 for 36 ounces, $2.29 for 12 ounces, and $4.00 for 48 ounces. What is the unit price of the best buy?
7.47¢ per ounce
10.38¢ per ounce
19.08¢ per ounce
8.33¢ per ounce
Melissa Sartini’s gross pay is $52,000 a year. The state income tax rate is 3% of taxable wages. Melissa takes a married exemption for herself and her husband. How much is withheld a year for state income tax?
$2,340
$1,440
$1,340
$1,840
Rafiq Jackson’s monthly budget allows him to spend $175 for groceries. In August he spent $85 and in
September he spent $123. How much more or less did he spend than budgeted?
$142 less
$132 less
$175 more
$152 more
Marissa Palmer’s charge account statement showed a previous balance of $142.55, a finance charge of
$2.82, new purchases of $86.50, and a payment of $80.00. What is her new balance?
$187.55
$123.54
$147.52
$151.87
At the Red Apple Health Food Store, employees earn time and a half for any hours they work in addition to their regular 40-hour work week. Nicole Logan is paid $8.00 an hour. This week she worked 46.25 hours. What is her total pay?
$355
$380
$415
$370
Amanda Sabino’s taxable income is $20,900. Her exemptions total $2,000. How much she’ll pay in state tax.
$811
$874
$921
$994
Blake Turner, a pharmacy technician, earns an annual gross pay of $41,300. He is married with two dependents, and his exemptions total $8,000. How much Blake’s employer withholds from his biweekly paycheck for state income tax.
$72.42
$86.35
$66.85
$85.31
Pauline Davis’s charge account statement shows an unpaid balance of $255. The monthly finance charge is 1.25% of the unpaid balance. What is the new account balance?
$265.50
$245.19
$258.19
$265.00
Betty Glacier is a manufacturer’s representative for a plastics company. She travels all over the country
selling her company’s products. Her total monthly expenses for August, September, and October were
$2,756.11, $7,111.20, and $5,080.70. What was her average monthly expenditure?
$3,598.01
$4,567.76
$3,983.45
$4,982.67
Trevor Williams’ bank calculates interest on a daily basis. Complete the following interest calculations:
$1.95
$2.75
$1.97
$3.90
Ginger Yiu has a principal of $900 in her savings account. It earns 6% interest compounded quarterly. What is the amount in the account at the end of the third quarter?
$941.11
$987.33
$935.67
$945.22
Jennifer Sosa leased a new car. She pays $300 per month for 48 months. She paid a $78 title fee, a $110
license fee, and her deposit was $5,000. What is the total lease cost?
$19,588
$15,987
$15,092
$19,510
One reason employers offer group insurance is because it
costs less to purchase than individual insurance.
does not require the employee to pay any part of the premium.
is the only type of coverage available in many states.
provides better coverage than individual insurance.
The previous balance on Hazel Taylor’s savings account is $876.21. She has $2.39 in interest, $616.46 in
deposits, and $298.06 in withdrawals. What is her new balance?
$1,199
$1,198
$1,297
$1,197
Amahl Jones earned $20.50 cutting grass, $16.50 babysitting, and $4.95 selling two baseball cards. He
puts all but $10.00 in his checking account. What is his total deposit?
$31.50
$31.95
$30.00
$41.95
Terri Davis is planning to buy a new car. While on the Internet she learned that the car has a base price of
$16,007, options that total $2,334, and a $500 destination charge. She read on a consumer’s Web site that
the dealer’s cost for the car is about 94% of the base price and 89% of the options price. What should
Davis estimate as the dealer’s cost?
$17,623.84
$17,800.25
$18,421.09
$18,862.11
Carlos Garcia works at Dan’s Car Wash. Use his time card, shown below, to find the total number of hours he worked for the week.
19 1/2 hours
32 hours
38 hours
26 hours
April Mendoza is ready to purchase a new suit. It regularly sells for $132.45, but is on sale for $89.95.
What is the markdown?
$49.80
$42.50
$43.50
$46.50
Ordinary annuity occurs when equal deposits are made at the
beginning of each six week period
end of each interest period
end of each six week period
beginning of each interest period
Charlene Langhorst’s gross weekly salary is $680. Her federal withholding is $101.62. The Social
Security tax is 6.2% of the first $97,500 earned. The Medicare tax is 1.45% of gross pay. The state tax is
1.5% of gross pay. Each week she pays $32.40 for medical insurance. What are Charlene’s total weekly
deductions?
$101.11
$95.24
$196.24
$190.80
Sheree Wright purchased a digital camera for $367.99. She received a manufacturer’s $45 mail-in rebate
and a $25 rebate from Jack’s Camera Store. What is the final price?
$297.99
$299.00
$276.99
$287.87
Betty Black is an attorney. Her biweekly salary is $6,514. What is Betty’s annual salary?
$169,364
$156,336
$78,168
$105,312
Harriet Cutter’s gross pay for this week is $555. She is single and claims two allowances. What amount
will be withheld from Harriet’s pay for federal income tax?
$68
$49
$57
$59
Janet Smith is shopping for a new sport utility vehicle. A portion of the sticker for an SUV is shown below. What is the sticker price?
$28,150
$33,849
$31,799
$31,300
Carlotta Rodriguez purchased six bushes for $19.27 each, a porch swing for $88.22, and a gas grill for
$321.77. She must pay the state tax of 4.5% and the city tax of 2%. What is the total purchase price?
$559.77
$525.61
$34.16
$43.61
Malik Fulton savings account has a principal of $1,640. It earns 6% interest compounded quarterly. What is the amount at the end of the second quarter?
$1,657.89
$1,643.23
$1,897.67
$1,689.57
At a recent computer convention, Pomie Lau demonstrated new software to potential customers. She was
paid $15 each for the first 10 demonstrations in one day and $17.50 for each demonstration over 10. What
was her commission if Pomie makes 12 demonstrations in one day?
$185
$210
$165
$175
Cody Summer sells tires for tractor trailers. He earns 4.5% commission on the first $6,000 in sales, 8%
commission on the next $6,000, and 12% commission on sales over $12,000. Last month he sold $18,000
worth of tires. What was his total commission?
$1,540
$1,450
$1,470
$1,650
Tien-Yu Moy had a coupon for $1.50 off a can of coffee that was valid if he also purchased coffee cream.
The regular price of the can of coffee was $6.99 and the coffee cream was $2.15. What is the final price?
$7.49
$7.64
$7.98
$7.89
A graduated income tax is a system that
increases the tax rate at higher levels of income
decreases the tax rate depending on the state in which you live
decreases the tax rate at higher levels of income
increases the tax rate depending on the state in which you live
The Flynns’ monthly budget allowed them to spend $555 for household expenses. During June and July
they had a room in their home remodeled and spent a total of $2,035 for household expenses. By how
much did they overspend?
$925
$1,200
$897
$675
Erin Lytle’s gross pay is $26,300. She takes a married exemption of $4,000. Her state income tax rate is
5.5%. How much will she pay in state income tax?
$1,115.00
$1,821.25
$1,281.50
$1,226.50
Instead of purchasing a new car, Maria Smits decided to lease one. Her deposit was $3,000 and her
payments are $230 per month for 60 months. She also paid a $90 title fee and a $50 license fee. What is
her total lease cost?
$15,380
$16,890
$16,788
$16,940
Luisa Perez had a balance of $541.82 in her checking account on January 7. On January 10, she wrote a
check to Marty’s Hair Salon for $27.19. What is her new balance?
$569.01
$514.63
$27.19
$494.63
Patrick David’s charge account statement shows an unpaid balance of $110. The monthly finance charge is 2% of the unpaid balance. What is the new account balance?
$111.59
$112.20
$111.01
$111.75
Dante Michel’s charge account statement showed a previous balance of $277.45, a finance charge of
$3.22, new purchases of $299.33, and a payment of $316.00. What is his new balance?
$267
$287
$264
$234
Ivan Cabrerra’s insurance policy includes 50/100 bodily injury limits and $50,000 property damage. Her
vehicle is in age group B and insurance rating group 13. She has a $50 deductible comprehensive and $50
deductible collision insurance. Miller’s driver-rating factor is 2.2. What is her annual premium?
$790
$1,512
$895
$1,617
Clive Williams is the principal operator of his vehicle. His driver-rating factor is 2.8 and his car is in age
group D and insurance-rating group 11. The coverage he wants to purchase is 50/100 bodily injury and
$100,000 for property damage. He would also like to have $50 deductible for both comprehensive and
collision. What is his annual base premium?
$1,450.00
$1,345.80
$1,750.30
$1,825.60
Patti Green and her husband are purchasing a condominium for $123,000. They have $15,000 for a down
payment. What is the amount of their mortgage loan?
$110,850
$116,700
$108,000
$120,000
Emmet Michael’s gross pay is $31,700. He takes a single exemption of $2,000. His state income tax rate
is 4.5%. How much will he pay in state income tax?
$1,188.00
$1,633.50
$1,426.50
$1,336.50
Pamela Hafer and her friend are planning to host a party. Pamela offered to purchase the potato chips and
dip. She can buy a 12 ounce bag for $2.50 with a $1.00 off coupon, a 15 ounce bag for $1.75 with no
coupon, or a 22 ounce bag for $3.79 with a $0.75 off coupon. The sales tax is 5.5%. Based on the unit
price per ounce, what size is the best buy?
12 ounce bag
22 ounce bag
15 ounce bag
they are all the same per ounce
Robin Cline is a computer analyst. Her annual salary is $52,789. What is her monthly salary?
$4,399.08
$3,444.22
$4,100.00
$4,700.87
Maya Saharaj keeps records of her expenditures. She wants to know how much she spends each month, on the average. Here are her records for three months. What is her average monthly expenditure?
$3,905.53
$3,890.32
$3,933.03
$3,434.04
Juanita Karoz purchased lawn furniture for $727. She made a 27% down payment and financed the remainder. What amount did she finance?
$530.71
$627.84
$510.88
$600.11
Nate Shermach found a two-year-old luxury car advertised for $31,175. Its average retail value is
$30,850. It has aluminum alloy wheels valued at $300 and a theft recovery system valued at $75, but it
does not include a CD player, which is valued at $100. The car has been driven 47,005 miles. The usedvehicle guide indicates that if the car’s mileage is between 46,000 and 51,000 miles, $700 should be
deducted. What is the average retail price for this vehicle?
$30,164
$32,874
$30,425
$31,098
Franklin Nason earns $5,250 a month as a sales manager. What is his semimonthly salary?
$5,250
$2,625
$2,365
$10,500
Nicole Bolton purchased a new rug for $287 and a vacuum cleaner for $121. What is the sales tax if she
lives in Iowa where the sales tax rate is 6%?
$31.99
$20.40
$24.48
$19.98
Marta Perez sells coffee beans to local coffee shops. She earns a 10% straight commission on all sales. In November, her sales totaled $38,500. What was her commission?
$3,800
$38
$3,850
$385
Reka Rahim is employed at Damon’s Deli. She has family medical coverage through the company’s group medical plan. The annual cost of Reka’s family coverage is $12,800. The company pays 80% of the cost. How much is deducted from her biweekly paycheck for medical insurance?
$246.15
$196.92
$49.23
$2,560.00
Adolfo Ramirez purchased a microwave and dishwasher for $897. He made an 18% down payment and financed the remainder. What amount did he finance?
$735.54
$791.01
$766.34
$786.12
A 2-door sedan sticker shows a base price of $12,130.00, with options totaling $2,623.00 and a $515.00
destination charge. Consumer Reports shows the dealer cost at about 93% of the base price and 97% of
the options. What is the dealer’s cost?
$14,340.21
$14,419.75
$15,419.75
$16,513.85
Net pay can be defined as
the amount of money you have before your employer subtracts all withholdings and deductions.
the amount of money you earn during a 12‑month period.
the amount of money you have left after your employer subtracts all withholdings and deductions.
the amount of money you are allowed to put into your retirement plan.
Akoni Shah washes windows for Sparkle Cleaners. He gets paid $1.39 per window. Last week he cleaned 284 windows. What was his total pay?
$432.00
$654.00
$383.40
$394.76
Phyllis Doran worked at Symmes Medical Center for 7 1/2 hours on Monday and from 8:30 AM until 1:00 PM on Tuesday. What is the total number of hours she worked?
12
13
12 1/2
11
Marc Maxwell took out a simple interest loan at 13% interest for 12 months. His previous balance is $2,681.04. What is the final payment if the loan is paid off with the next payment?
$2,876.91
$2,998.01
$2,801.01
$2,710.08
Annie Kramer embroiders baseball caps. She is paid $2.50 for each hat she embroiders. Her production sheet is shown below. What is her total pay for the week?
$350
$360
$375
$345
What is the unpaid balance on Jessica’s account?
$40.00
$215.00
$132.76
$123.09
John Simms is shopping for a new sport utility vehicle. A portion of the sticker for an SUV is shown
below. What is the sticker price?
$30,379
$29,680
$31,379
$40,256
Manny Fox’s charge account statement showed a previous balance of $550, a finance charge of $3, new
purchases of $600, and a payment of $250. What is his new balance?
$890
$903
$905
$900
Destiny Paxton has a previous balance at a retail store of $59.27. She had payments and credits of $29.21.
The finance charge is 1.75% of the unpaid balance and she had $16.16 in new purchases. What is the new
balance?
$47.11
$46.75
$47.26
$43.21
Briana Driscoll sells real estate. She earns a 6% straight commission on each sale. She recently sold a house for $355,000. What was her commission?
$20,900
$23,300
$21,300
$23,500
Camryn Mason obtained a $1,200 loan for her scuba diving lessons. She borrowed the money for six
months at 7% interest. Her monthly payment is $204.10. What is the interest for the second payment?
$5.85
$3.53
$7.00
$4.69
Enrico Alonso recently leased a new luxury car. His payments are $658 per month for 60 months. His
deposit was $6,000. He paid a $105 title fee and an $80 license fee. What is his total lease cost?
$59,718
$45,665
$39,761
$42,380
The manager of Tony’s Pizzeria deposited money in the restaurant’s checking account at the end of the day. The deposit included 4 fifty‑dollar bills, 9 twenty‑dollar bills, 16 ten‑dollar bills, 22 five‑dollar bills, 16 one‑dollar bills, 29 quarters, 14 dimes, 9 nickels, and 17 pennies. What was the total deposit?
$698.27
$678.27
$675.10
$675.27
Chloe Closson paid for her vacation to the mountains with a $3,000 installment loan at 10% for 12
months. Her monthly payments were $263.75. After five payments, the balance due was $1,786.20. If
Chloe pays off the loan with the sixth payment, how much will she save?
$213.85
$45.17
$135.67
$308.95
The regular selling price of a 22" television is $389. The markdown rate is 33%. Use the percent paid to determine the sale price.
$245.34
$287.56
$267.89
$260.63
Macie Andersen earns $9.75 an hour working at the local bookstore. Last week she worked 17 hours. This week she worked 25 hours. What was her straight‑time pay for the two weeks?
$409.00
$404.25
$409.50
$404.75
Marina Guzmon’s bank granted her a single‑payment loan of $3,250 to pay a repair bill. She agreed to repay the loan in 31 days at an ordinary interest rate of 11.75%. What is the maturity value of the loan?
$3,012.21
$3,454.99
$3,282.88
$3,221.09
Margaret Faso leased a car. This included 36 monthly payments of $545, a $4,000 deposit, a $100 title
fee, and a $90 license fee. What is her total lease cost?
$23,810
$24,390
$25,865
$26,002
Crystal Porter wants to purchase a new minivan. It regularly sells for $24,987. The manufacturer is
offering a sale price of $18,994. What is the markdown?
$6,007
$5,665
$5,993
$4,998
Megan Evans has a coupon that saves her $1 when she buys two jars of peanut butter. The peanut butter
costs $2.39 per jar. What is the final price of the two jars?
$3.47
$3.21
$3.98
$3.78
The Hongs’ monthly budget allowed them to spend $455 for household expenses. During June they spent
$235 for household expenses. How much less did they spend than budgeted?
$235
$400
$455
$220
Find the average daily balance (new purchases included) using the table.
$198.22
$190.76
$178.88
$176.55
Lucinda Thompson’s charge account statement shows an unpaid balance of $222.08. The monthly finance charge is 1.5% of the unpaid balance. What is the finance charge?
$3.33
$3.98
$3.11
$5.43
Darrin Newberry’s charge account statement shows an unpaid balance of $875. The monthly finance charge is 1.65% of the unpaid balance. What is the new account balance?
$889.44
$889.00
$896.11
$896.50
Dawn Reynolds purchased six quarts of motor oil for $14.12. What is the unit price per quart rounded to the nearest cent?
$2.35 per quart
$2.98 per quart
$2.54 per quart
$2.39 per quart
Terrence McGraw sells lumber. He earns 4% commission on the first $5,000 in sales, 8% on the next
$5,000, and 12% on sales over $10,000. Last month he sold $18,000 worth of lumber. What was his total
commission?
$1,650
$1,570
$1,560
$1,750
Camryn Mason obtained a $1,200 loan for her scuba diving lessons. She borrowed the money for 6
months at 7% interest. Her monthly payment is $204.10. What is the balance of her loan after three
payments?
$1,650
$1,570
$199.41
$605.24
Chico Alvarez obtained a loan of $2,400 to install a new roof on his home. The interest rate is 12% and
the monthly payment is $113.04. What is the interest on the first monthly payment?
$32.01
$29.90
$25.04
$24.00
Chin Quong purchased 11 binders for $1.37 each, a dozen pens for $0.87 each, and a box of copier paper
for $27.19. He must pay state tax of 7.5%, county tax of 0.5%, and city tax of 2%. How much will he pay
in taxes for his purchases?
$6.27
$5.23
$5.27
$6.23
Dalton Alexander’s gross weekly pay is $576. His earnings to date for the year total $13,824. What
amount is deducted from his pay each week for Medicare, which is taxed at 1.45%?
$8.35
$19.95
$15.60
$6.00
