Math 1008 Test #1 Practice Questions
Fall 2012
It is important to remember, these are just sample questions that can be used to practice the material
concepts. Memorizing these solutions WOULD NOT be sufficient for the test, as the real test questions wil
Set up the BA II PLUS Financial
Calculator:
1. Set up required the number of
decimals:
2nd Format -9-enter- 2nd-quit
2. Set up the AOS Algebraic
Operating System
2nd-format-2nd-set-2nd quit
Math 1008 Test #2 Practice Questions
Fall 2013
It is important to remember, these are just sample questions that can be used to practice the material
concepts. Memorizing these solutions WOULD NOT be sufficient for the test, as the real test questions wil
(Group Work)
Week #13
Chapter # 9 & 10 Problems and (Answers)
Math 1008
Practice Test #3
1. Fill in the missing values in the chart below, using COMPOUND INTEREST.
#
t
j
i
m
n
a)
3 years
11%
5.5%
2
6
b)
6 years
6.4%
6.4%
1
6
c)
10 years
3.5%
0.875%
4
40
d
BREAK-EVEN (Chapter 6.1)
In your small groups consider the following. Record all answers and be prepared
to present your findings.
You are opening a small nightclub in Queen West and are trying to determine
how many drinks (your only source of income-assu
FORMULA SHEET
Chapter 5
MATH 1008
1
Amount of Discount = Rate of Discount x List Price,
AD=RDL or AD=RDSP
2
Net Price = List Price Amount of Discount
N=L - AD or NP=SP- AD
3
Net Price=List Price NPF or N=L (1-d)
N= LNPF or N=L (1-d)
4
List Price = Amount
Break-Even and Cost-Volume-Profit Analysis
Objectives:
Compute break-even values using cost-volume-profit relationship.
Compute break-even values using contribution margin and contribution rate.
Construct and interpret cost-volume-profit charts.
Compute t
Preparation for Exam Review / Chapters 5-10 Weeks 14-15
Math1008
1. A TV-set listed at $780 is subject to the discount series 12%, 10%, 7%. Determine the net price.
Solution: N=LNPF1NPF2NPF3
N=780(1-0.12) (1-0.10) (1-0.07)=$574.52
2. A retail store paid $