Alexandra uses her car for business. She knows that her tank was full when she started her business trip, but she forgot to write down the odometer reading at the beginning of the trip. When the trip was over, the odometer read 13,020.5. Alexandra’s car gets 25 miles per gallon. When she filled up the tank with gas that cost $2.45 per gallon, her total bill for the trip was $30.10. Determine Alexandra’s beginning odometer reading.
> Jorge is installing a staircase so he can have access to his attic. The rise of the stairs is 8 inches and the run of each stair is 11 inches. What is the slope of the staircase, expressed as a fraction?
> What was the day’s low price on May 1? 695 690 685 680 675 670 665 660 655 650 Volume - 60 40 20 Apr. 28 29 30 May 1 2. Thousands
> What was the day’s high price on April 29? 695 690 685 680 675 670 665 660 655 650 Volume - 60 40 20 Apr. 28 29 30 May 1 2. Thousands
> What was the day’s opening price on the following days? April 28 April 29 April 30 May 1 May 2 695 690 685 680 675 670 665 660 655 650 Volume - 60 40 20 Apr. 28 29 30 May 1 2. Thousands
> On what date did the stock close at a price higher than it opened? 695 690 685 680 675 670 665 660 655 650 Volume - 60 40 20 Apr. 28 29 30 May 1 2. Thousands
> How might those words apply to what you have learned? Why is the author warning readers that a share is not a lottery ticket?
> The Joseph family took out a $175,000, 25-year mortgage at an APR of 4%. The assessed value of their house is $9,000. The annual property tax rate is 97.22% of assessed value. What is the annual property tax?
> On June 19, Note Quest Inc. instituted a 3-for-2 split. At that time Keisha owned 205 shares of that stock. The price per share was $33.99. After the split, Keisha received a check for a fractional part of a share. What was the amount of that check?
> The spreadsheet on the right can be used to compute the yield. Write the formula that can be used to compute the yield in cell C2. A B 1 Price per Share Annual Dividend Yield 2 37.12 1.51 44.55 1.77 65.29 2.01 5 14.35 0.48 3. 4,
> Jim is taking out a $135,000 mortgage. His bank offers him an APR of 3.32%. He wants to compare monthly payments on a 20- and a 30-year mortgage. Find, to the nearest dollar, the difference in the monthly payments for these two loans.
> The market value of Christine and Gene’s home is $275,000. The assessed value is $230,000. The annual property tax rate is $17.50 per $1,000 of assessed value. a. What is the property tax on their home? b. How much do they pay monthly toward property t
> The monthly payment on a mortgage with a principal of p dollars is m dollars. The mortgage is taken out for y years. Express the interest I as a function of p, m, and y.
> The assessed value of the Weber family’s house is $186,000. The annual property tax rate is 2.15% of assessed value. What is the property tax on the Webers’ home?
> Ed is setting up the locations of the corners of a 16-foot by 30-foot rectangular deck he is going to build in his backyard. To make sure he has a perfect rectangle, he checks to make sure the diagonals are the same. What should the length of each diagon
> United Bank offers a 15-year mortgage at an APR of 4.2%. Capitol Bank offers a 25-year mortgage at an APR of 4.5%. Marcy wants to borrow $120,000. a. What would the monthly payment be from United Bank? b. What would the total interest be from United Ba
> If you borrow $220,000 at an APR of 3.5 for 25 years, you will pay $1,101.37 per month. If you borrow the same amount at the same APR for 30 years, you will pay $987.90 per month. a. What is the total interest paid on the 25-year mortgage? b. What is t
> The Smiths took out a $130,000, 30-year mortgage at an APR of 3.4%. The monthly payment was $576.53. What will be their total interest charges after 30 years?
> Find the monthly payment (before the balloon payment) for a 20-year, interest-only balloon mortgage for $275,000 at an APR of 3.1%. Round to the nearest $10.
> Ron has a homeowner’s insurance policy, which covers theft, with a deductible of d dollars. Two bicycles, worth b dollars each, and some tools, worth t dollars, were stolen from his garage. If the value of the stolen items was greater than the deductible
> Monarch Financial Holdings Inc. executed a 6-for-5 traditional split on October 5. Before the split there were approximately 4,800,000 shares outstanding, each at a share price of $18.00. a. Use the method outlined in Examples 2 and 3 to determine the p
> Andy is a single father who wants to purchase a home. His adjusted gross income for the year is a dollars. His monthly mortgage is m dollars, and his annual property tax bill is p dollars. His monthly credit card bill is c dollars, and he has a monthly c
> The Ungers have an adjusted gross income of $117,445. They are looking at a new house that would carry a monthly mortgage payment of $1,877. Their annual property taxes would be $6,780, and their semi-annual homeowner’s premium would be $710. a. Find th
> Miguel and Cara had an adjusted gross income of a dollars. Miguel just got a $3,000 raise and Cara got a $1,500 raise. They are considering moving to a new house with monthly mortgage payments of m dollars, annual property taxes of p dollars, and an annu
> Allison has a mortgage with North End Bank. The bank requires that she pay her homeowner’s insurance, property taxes, and mortgage in one monthly payment. Her monthly mortgage payment is $1,390, her semi-annual property tax bill is $3,222, and her quarte
> The Jordans are considering buying a house with a market value of $250,000. The assessed value of the house is a dollars. The annual property tax is $2.45 per $100 of assessed value. What is the property tax on this house?
> Sara is setting up a volleyball net in her backyard. The poles to hold the net up are 10 feet high. Sara needs to run a wire from the top of the pole to the ground to help make sure that when players hit the net, the pole doesn’t fall down. This wire is
> Interpret the quote in the context of your own home.
> Let the Medicare tax withheld in Box 6 be represented by x as shown. Write an algebraic expression that represents the federal income tax withheld assuming that the taxpayer pays 28% of his income in federal taxes and that there are no tax-deferred entri
> Examine this portion of a taxpayer’s W-2 form. Assume that the taxpayer’s wages for the year are under the Social Security limit. What entry should be in Box 1? Safe, accurate, FAST! Use Visit the IRS website er f
> Andres is taxed at a 17% tax rate for his federal taxes. Last year, he reduced his taxable income by contributing $350 per biweekly paycheck to his tax-deferred retirement account and $50 per biweekly paycheck to his FSA. How much did he reduce his annu
> Why should investors be cautious when a split occurs? How might those words apply to what you have learned?
> Complete the missing entries in the following pay stub. a. As indicated in the paycheck number box, this is the 18th paycheck of the year. Determine the current gross pay. b. What is the Social Security tax for this pay period? c. What is the year-t
> Let A represent the number of the paycheck for the year. For example, if the paycheck was the fifth of the year, A is 5. Let B represent the biweekly gross pay. Let C represent the biweekly union dues contribution. Let D represent the biweekly health ins
> Use the partial information given in Leslie’s electronic W-2 form (see question 3) to calculate the amount in Box 1.
> Leslie works for Blanck Corporation. His annual salary is $57,285.50. a. What is Leslie’s annual Social Security deduction? b. What is Leslie’s annual Medicare deduction? c. Leslie is paid every other week. What is
> Linda is a salesperson for Spooner’s Cleaning Service, which cleans office buildings. She receives a 14% commission for every office that signs a contract for the cleaning services. Last week she received $1,233.60 in commissions. What was the total valu
> Joe makes an hourly wage of $14.10. For hours worked over 40, he is paid at a rate of $21.15 per hour. Last week, Joe worked 45 hours. a. What is Joe’s gross pay for this pay period? b. What is Joe’s Social Security deduction? c. What is Joe’s Medicar
> The Lamberti family is building a rectangular deck that measures 30 feet by 22 feet. They need to run an electric line across the diagonal, underneath the deck. How long is the diagonal of the deck, to the nearest foot?
> Janice is a travel agent. She receives a 7% commission based on the value of the trips she books. Today she spent 5 hours arranging a $6,300 cruise for a newlywed couple. a. How much commission did she earn? b. What was her mean hourly pay for the work
> Arielle receives a piecework rate of 10 cents per unit from the Wiggy Factory. Her production for last week was affected by a machinery breakdown on Tuesday. Her production results were: Monday, 375 units; Tuesday, 22 units; Wednesday, 410 units; Thursda
> Last week Eric received a total piecework paycheck of $252.48. He receives 12 cents per unit produced. How many units did he produce?
> Edward is driving 52 mi/h on a one-lane road. He must make a quick stop because there is a stalled car ahead. a. What is his approximate reaction distance? b. What is his approximate braking distance? c. About how many feet does the car travel from
> Danielle works in a designer dress factory. She is paid $156 for each dress she sews. Last month she sewed 30 dresses. What was her total pay for the month?
> Anton picks corn at a local farm. He is paid 80 cents per bushel for the first 50 bushels, 90 cents per bushel for the next 50 bushels, and $0.95 per bushel for all bushels picked over 100. Express algebraically the amount Anton earns if he picks x bushe
> Margit works in a factory. She receives a salary of $12 per hour and piecework pay of 12 cents per unit produced. Last week she worked 38 hours and produced 755 units. a. What was her piecework pay? b. What was her total hourly pay for the week? c. Wh
> Laurel’s W-2 form reported total Medicare wages as $100,750. She contributed $30 per weekly paycheck to her FSA and $75 per weekly paycheck to her retirement plan. She received a 1099 form from her bank for her savings account interest in the amount of $
> Martina is taxed at a rate of 25% for her federal taxes. Last year, she reduced her taxable income by contributing to a flexible savings plan in the amount of $2,700. If her wages before the deduction were $68,000, how much did she save in federal taxes
> Determine the correct entry for Box 1 assuming that the taxpayer pays 33% of his total income in federal taxes. Safe, accurate, (545-0008 FAST! Use Wages, tips, olher compensabion Visit the IRS website e file at www.irsgowlefie. 2 Federal income tax
> Determine the correct entry for Box 4. Safe, accurate, FAST! Use Visit the IRS website R efile IRS 1545 0008 at www.irs.gowefilo. Wages, ips, ofther compensation 2 Federal income tax withheld 3 Social necurity wages 4 Social security tax withheld 5
> How can the quote be interpreted in light of what you have learned in this section?
> Hillside Travel pays its employees $16 per hour plus 8% commission on all trips booked. Tyrus worked 20 hours last week and booked trips amounting to $2,100. What was his gross pay for last week?
> Determine the distance covered by a car traveling 68 mi/h for each unit and time given. Round answers to the nearest unit. a. miles in 1 hour b. feet in 1 hour c. feet in 1 minute d. feet in 1 second
> Glen has a job selling magazine subscriptions by phone. He makes a base salary of $12.60 per hour plus 5% commission on all sales. Last week, Glen worked 35 hours and sold $230 worth of subscriptions. What was his gross pay for the week?
> Maram is a real estate agent. She earns 6.5% commission on each sale she makes. Last month she sold one house for $250,000 and another for $310,000. What did Maram earn in commissions for the month?
> Professional baseball player Rusty Raspberry earns $1,715,000 a year playing baseball. Last year, an auto biography that he had written sold 300,000 copies at a price of $24 each. Raspberry received 10% in royalties on the book sales. What was his total
> Oscar sells Internet access subscriptions by telephone. He receives 12% of the first $1,000 and 15% on the balance over $1,000. Last month he sold $7,500 worth of Internet access subscriptions. What was his commission for last month?
> Janelle works at Heedle’s Computer Outlet. She receives a weekly salary of $200 plus 3% commission on her sales. Last week, she sold $29,700 of computer equipment. How much did Janelle earn last week?
> Joan sells new cars at a local dealership. She receives a 25% commission on the profit each car is sold for. Last month she sold nine cars, for a total of $8,870 dealer profit. How much did she earn in commission?
> Rock musician Donny West is paid 15% on his tour video online sales. Last year fans downloaded his songs 991,000 times, and he also sold 550,000 videos. The songs are downloaded for $1.09 each and the videos were downloaded for $9 each. a. What was the
> Bill works for the Stuff-It Mailing Service. He receives 25 cents for each document he puts together and prepares for mailing. Last week, Bill prepared 2,000 documents for mailing for a local politician. He received a check with gross pay of $474 and is
> Complete the chart for entries a–l. Number Number of of gallons purchased Price per gallon people in Gas cost per carpool Total gas cost person 10 $1.99 a. 4 g. 12 $2.08 b. 5 h. 17 $2.15 C. 3 i. 26 $2.30 d. 6 j. 15 е. 4 k. f. C I.
> In each case, the blue graph represents the expense function and the black graph represents the revenue function. Describe the profit situation in terms of the expense and revenue functions. dollars $100,000 price 100
> Mindy is driving 32 mi/h as she nears an elementary school. A first-grade student runs into the street after a soccer ball, and Mindy reacts in about three-quarters of a second. What is her approximate reaction distance?
> Barb works in a local factory. She receives 92 cents for each of the first 100 units she produces and $1.01 for each unit over 100. Yesterday, she produced 120 units. How much did Barb earn?
> Alanna is a stockbroker. She receives a commission based on the value of the trades she makes. a. If Alanna earns $10 for sales of $1,000, what is her percent of commission? b. If she earns x dollars for sales of y dollars, express her percent of commi
> Silvan picks berries at Seymour’s Berry Farm. He receives 58 cents for each small basket picked. Last weekend, he was able to pick 731 baskets. How much did he earn?
> Interpret the quote in the context of your experiences with earning money.
> How much interest will Britta accrue during the 2.5-year nonpayment period? Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has t
> Ted is a freshman attending a 4-year college. He has been approved for an $8,000 subsidized federal loan at 4.29% for 10 years. How much will the U.S. Department of Education subsidize in interest costs during his 4.5-year nonpayment period?
> Martina’s grandparents paid for the first 3 years of her college costs. As a senior, she was approved for a federal unsubsidized loan in the amount of $9,300 at a 4.29% interest rate for 10 years. a. If she chooses to make interest-only payments until t
> Suppose that Rich had decided to apply for a private loan rather than a federal loan. He is considering a 10-year loan with an interest rate of 5.9%. Rich is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidized
> Rich made his last monthly interest-only payment on November 1. His next payment is due on December 1. What will be the amount of that interest-only payment? Rich is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubs
> Suppose Rich only paid the interest during his 4 years in school and the 6-month grace period. What will he now pay in interest over the term of his loan? Rich is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidi
> Write the ticker symbols for each situation. a. 36,000 shares of ABC at a price of 37.15, which is $0.72 higher than the previous day’s close b. 1,240 shares of XYZ at a price of $9.17, which is $1.01 lower than the previous day’s close
> Jason uses his car for business. He must keep accurate records so his company will reimburse him for his car expenses. When he started his trip, the odometer read 42,876.1. When he ended the trip, it read 43,156.1. Jason’s car gets 35 miles per gallon. H
> If Rich decides to make no payments during the 4.5 years, the interest will be capitalized at the end of that period. a. What will the new principal be when he begins making loan payments? b. How much interest will he pay over the life of the loan? Ri
> Ralph wants to join a travel soccer team, a discretionary expense. His parents tell him he must get a job to earn the money to cover the costs. Ralph now views this discretionary expense as an essential expense since he must pay his parents back. The cos
> Interpret the quote in terms of what you have learned about essential and discretionary entertainment expenses.
> Find the missing terms indicated by variables in the arithmetic sequence shown. a, 30, b, 42, c, d, e
> Zoe creates a spreadsheet to make simple interest calculations. The user inputs values for the principal, rate, and time in years in row 2. Write each formula. a. For A2 to compute the interest. b. For B2 to compute the principal. c. For C2 to comp
> Maaz has a bank account with less than $400 in it. His bank pays no interest on that account and charges $2 per month for each month the account is below $500. How much will be in Maaz’s account if he makes no deposits or withdrawals after 2 years?
> How much interest will Rich accrue during the 4.5-year nonpayment period? Rich is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidized student loan in the amount of $7,900 at 4.29%. He knows he has the option of
> Ron estimates that it will cost $400,000 to send his daughter to a private college in 18 years. He currently has $90,000 to deposit in an account. What simple interest rate must his account have to reach a balance of $400,000 in 18 years? Round to the ne
> Determine the distance covered by a car traveling x km/h for each unit and time given. a. kilometers in 1 hour b. meters in 1 hour c. meters in 1 minute d. meters in 1 second
> A couple is opening a savings account for a newborn baby. They start with $3,450 received in baby gifts. If no deposits or withdrawals are made, what is the balance of the account if it earns simple interest at 5% for 18 years?
> Mickey uses a mirror and similar triangles to find the height of a light pole near her driveway. The diagram describes her method. She has her friend move the mirror until she can see the top of the pole as a reflection in the mirror. Due to the law of
> The following stem-and-leaf plot gives the number of juniors who took a driver education course at Guy Patterson High School over the last two decades. Construct a box-and-whisker plot based on the data. 4123556 511888 9 6000
> Assume $20,000 is deposited into a savings account. Bedford Bank offers an annual rate of 1% simple interest for 5 years. Slick Bank offers a rate of 5.1% simple interest for 1 year. Which earns more interest?
> What interest rate is needed for $9,500 to earn $900 in 19 months? Round to the nearest hundredth of a percent.
> There are many online student loan calculators that can assist you. Examine the input boxes for one such calculator (Cost of Interest Capitalization Calculator www.finaid.org). After clicking “calculate,” the following information is reported: Comment 1:
> Suppose that Britta decided to take out a private loan for $12,000 for which loan payments start as soon as the loan amount is deposited in her account and continue for 10 years. The interest rate is 6.1%. a. Determine her monthly payment. b. What is
> Kaylee has 100/300/50 liability insurance and $50,000 PIP insurance. She drives through a stop sign, hits a telephone pole, and ricochets into a minivan with eight people inside. Some are seriously hurt and sue her. Others have minor injuries. Three pass
> Suppose Britta only paid the interest during her 2 years in school and the 6-month grace period. What will she pay in interest over the term of her loan? Britta has been accepted into a 2-year medical assistant program at a career school. She has been aw
> If Britta decides to make no payments during the 2.5 years, the interest will be capitalized at the end of that period. What will the new principal be when she begins making loan payments? Britta has been accepted into a 2-year medical assistant program
> Determine the distance covered by a car traveling 55 km/h for each unit and time given. Round answers to the nearest unit. a. kilometers in 1 hour b. meters in 1 hour c. meters in 1 minute d. meters in 1 second
> Read the quote at the beginning of this section. Interpret the quote in terms of what you have learned about student loans.
> Assume $x is deposited into a savings account. Blank Bank offers an annual rate of r% for y years. Thank Bank offers a rate of ry% for 1 year. Which earns more interest?
> Interpret the quote in the context of what you learned about home maintenance in this section.
> Britta made her last monthly interest-only payment on May 5. Her next payment is due on June 5. What will be the amount of that interest-only payment? Britta has been accepted into a 2-year medical assistant program at a career school. She has been award
> Find the simple interest on a $2,350 principal deposited for 6 years at a rate of 2.77%.
