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Business Math Exam 10
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Business Math Exam 10
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25 Questions

1. Pamela Hyland invested $75,000 in a property. She expects her annual expenses of owning the property to be $18,000. If Pamela wants to earn 8% annual net income on her capital investment, what monthly rent must she charge?
2. A student found seven apartments to choose from with the following monthly rents: $615, $450, $290, $525, $675, $450, and $495. Which of these is not a measure of central tendency of the data?
3. Which of the following describes how to calculate net pay?
4. The average annual income for five sales associates last year was $54,200. Four of the associated earned the following amounts: $58,125, $53,190, $48,975, and $56,000. What was the annual income of the fifth sales associate?
5. When a lender calculates the payments on a loan so that each payment is the same, it is called:
6. Emma is paid an hourly rate of $12.65. When she works overtime she is paid 1½ times her hourly rate. She occasionally works 40 hours per week when others are on vacation. What is her weekly gross pay if she works 25 hours per week?
7. Which of the following is not a step in finding the interest from a simple interest table?
8. Yolanda's annual salary is $38,500 plus 22% in employee benefits. Her yearly job expenses are: uniforms, $500; transportation and parking, $5,350; and tools and certifications, $1,200. What is her total salary including benefits?
9. The regular price of a quart of motor oil is $1.84. You can buy a 12-quart case of motor oil for $16.99. How much will you save by buying oil by the case?
10. Which of the following describes how to calculate simple interest?
11. Michael wants to earn 10% annual net income on his $85,700 cash investment in a property that has two identical rental units. His annual expenses for owning the property are $12,420. What monthly rent must Michael charge for each unit?
12. Which of the following describes how to calculate take-home pay as a percentage of gross pay?
13. Which organization is responsible for regulating the calculation of depreciation?
14. Businesses that sell perishables such as food typically have
15. Mikayla Gonzalez is paid $275 a week and a commission of 7% on all sales. Her sales last week were $3,904. What were her total earnings for the week?
16. When shipping charges are calculated per cwt, the customer is charged on the basis of weight per
17. When an employee takes his paycheck to the bank and deposits it into his savings account, he is taking advantage of direct deposit.
18. Itchiro Nagatsune borrowed $1,000 at 5% exact interest for 120 days. How much interest will Itchiro have to pay?
19. Johnie Gwinn invested $3,000 in a 3-year CD that paid 4% annual interest. When he withdrew $500 at the end of 2 years, his early withdrawal penalty was 6 month’s interest. What was the amount of the penalty?
20. What is the total price of 8 Golf Frisbees @ $7.89 with a sales tax of 6%?
21. When you buy something using an installment plan, the difference between the installment price and the cash price is called the
22. The Silverton's pay $550 for monthly rent. They have an annual income of $28,406. What percent of their income do they spend on rent?
23. Rhonda used her van at work for 25% of the 26,112 miles she drove last year. Her employer reimbursed work mileage at $0.55 a mile. What reimbursement did Rhonda receive?
24. Morgan David works 40 hours per week 52 week a year. His annual salary is $24,500. What is his average pay per hour?
25. Tommy Harker lives in a town that charges a 0.5% city income tax rate. How much city income tax did he owe last year if he had federal taxable income of $45,883?

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