Ch. 10 Review
1.
Jane borrowed $3000 for a car at 7% for 180 days.
Using ordinary interest. Find the maturity value of her loan.
2.
Joe borrowed $800 at 4% and his interest came to $200. Find the time of the loan
in years.
3.
Sue borrowed $10,000 for 6 mo
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. .3333 rounded to nearest thousandth is _.
2. .16593 rounded to nearest hundredth is _.
3. Convert to a decimal: 88/100,000.
4. .713 converted to a decimal fraction is _
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Given the following from the check register, calculate the ending balance.
Beginning balance
Payment
$481.92
$81.22
Payment
Deposit
19.44
111.22
Payment
88.04
2. Write
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. P - $40 = $70. P = _.
2. 1/7 V = 900. V = _.
3. 5C - C = 100. C = _, 5C = _.
4. 5W + 2(10 - W) = 50. W = _.
5. Situation 5 in LU 5-2 is when total units _ _ _ and know
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. .006 converted to a percent is _.
2. 7 3/4% converted to a decimal is _.
3.
17
/22 converted to a percent is _ (round to the nearest hundredth percent).
4. 14 1/4 conve
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Neal Wall bought a computer from A.C. Suppliers for $1,200. Neal plans to resell the
computer for $1,800. What is Neal Wall's dollar markup and his percent markup on co
Chapter9
CalculationsandApplications
Docalculationsonscrappaperasneeded.Workedoutsolutionsareprovidedatend.
Melvin'shoursworked
M
6%
$40.000$60,000
7%
Over$60,000
7%
Employee
PatSwan
W
Th
F
Sat
5
Upto$40,000
T
12
8
7
9
14
$1,500?Todate,hercumulativeearnin
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Simple interest on $15,000 at 4 1/2% for eight months is _.
2. Simple interest on $20,000 at 7 1/2% for 17 months is _.
3. On June 8, Reed Ching borrowed $18,000 at 7%.
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Alfred Rodriguez deposits $8,000 in Yoma Bank which pays 6% interest, compounded
quarterly. How much will Alfred have in his account at the end of six years?
2. Given t
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Calculate by table the value of an investment after three years on an ordinary annuity of
$6,000 made semiannually at 6%.
2. Redo your calculation in No. 1 assuming an
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Gail Sentner bought a new Chevrolet for $16,500, putting down $500 and paying $300
per month for 60 months. Calculate:
a. Amount financed.
b. Finance charge.
c. Deferre
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Twila Griffen bought a new condominium for $110,000. She put down 10% and
obtained a mortgage at 8% for 25 years. What is her (a) monthly payment, (b)
the total interes
Chapter 16
Calculations and Applications
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. For Moore Corporation, calculate total stockholder's equity from the following: Cash, $8,000;
land, $16,000; common stock, $18,
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Given the following, calculate the yearly depreciation expenses using the
straight-line method.
Track, $30,000; residual value, $5,000; estimated useful, 5 years.
2. On
Do calculations on scrap paper as needed. Worked-out solutions are provided at end.
1. Convert to mixed number: 150/7.
2. Convert to an improper fraction: 9 5/8.
3. Find the GCD by step approach and reduce to lowest terms: 15/80.
4. Convert to higher term
Ch. 11 Review
1.
Know definitions to the bold print words in the chapter.
2.
Know the four steps of determining the Proceeds to a Bank Discount Note.
Problem:
Loan amount
$25,000
Rate
11%
Length of note
60 days
Date of Note
June 8
Date Discounted Note Jul
Ch. 13 Additional Practice
Vocabulary: Annuity
Ordinary Annuity Annuity Due
Sinking Fund
Present Value
Future Value
1. Ordinary annuity. $7,000 payment semiannual, 8 years, 7% interest, what is
the va
Review Ch. 2
BUS 112 Business Math
SHOW ALL YOUR WORK!
1.
Mr. Thatcher bought a home from Century 21 in Houston, Texas, that is
9 times as expensive as the home his parents bought. His parents paid
$30,
Review Ch 14, 15
Using tables ( first three problems use different tables)
1.
Find the APR if the finance charge is $100 and the amount financed is
for 12 months.
$1200
(APR): _ to _
2.
Find the monthly payment on a $12,000 loan for 48 months at 8%.
3.
Fi
Review Ch. 1
BUS 112 Business Math
SHOW ALL YOUR WORK!
1.
Translate the following verbal forms into numbers and then add.
Eight thousand, Nine hundred, Fiftyone
Five thousand, two
Chapter 12
1.
Review
8% compounded quarterly for 5 years
_
_
Rate
period
2.
You invest $5000 in an account which pays 6% compounded semiannually. How
much interest will you have on this money in 10 years?
3.
Jackie wants to get a new car 6 years from toda
Business Math
Ch 8 Review
% = Markup % = Markup S = C+ M
Cost
Selling price S = C+%C
S = C +%S
1. Selling price of a DMACC sweatshirt is $25. The cost was $10.
Find the markup in dollars
Find % markup based on cost.
Find % markup based on selling price.
2
Review Ch 7
1. The invoice was Jan 5. Terms of sale 2/10 1/15 n/60 What is the last date to receive
(no leap year) :
the 2% discount?
1% discount?
End of the credit period?
2. Boats,