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Business Mathematics DSST Practice Test 2
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The Business Mathematics DSST is broken down as follows: 50%    Business Applications 16%    Statistics 15%    Algebraic Concepts 14%    Financial Mathematics 05%    Number Sense Though there are different versions of Business Mathematics DSST, you'll most likely see some of the following on your exam: Installment Purchases Annuities and present value Simultaneous linear equations Unit Conversions Extrapolation and Interpolation Break-even analysis (algebraically and graphically) Quadratic equations and functions Investment performance measures Depreciation/salvage... Show more
Business Mathematics DSST Practice Test 2
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25 Questions

1. Given the following spreadsheet, what would be the best linear interpolated value for the unknown cell x?
145
7x
1589
"
2. The index number for stock XYZ in 2000 was 250 relative to the price in 1970. If the stock was $12 per share in 1970, what was the price in 2000?
3. A businesswoman spent 2,940 euros during a one-week business trip in Sicily. What were her expenses in US dollars per day if 1 euro = 1.42 US dollars?
4. If the depreciation of a $20,000 widget is $2,000 and it depreciates over 7 years, what is its salvage value?
5. A car costs $20,000. Francis will pay a $5,000 down payment and then monthly payments for three years with an interest of 10%. What is the amount of each payment?
6. If Susie buys a blanket from an infomercial on TV and pays 3 easy payments of $19.95 along with a one-time down payment to upgrade to thicker cotton for $7.50, what is the deferred payment price of the blanket?
7. What is a promissory note?
8. What interest would be earned if $500 were invested for 5 years at 8% simple interest?
9. What is the future value of $1,800 compounded monthly at 9.5% interest for 8 years?
10. In baseball, a batting average is the number of hits divided by the number of times at bat rounded to 3 decimal places. What would the batting average be of a player who got 154 hits out of 403 at bats?
11. A researcher presented a paper at a conference that showed that El Niño was responsible for increased onion production in New Mexico. However, after the paper was published, numerous other researchers showed that there was no significant difference in his data. The researcher gave a retraction at a later conference. What type of error was this?
12. A concrete mixer is purchased from a hardware store on installments. Who legally owns the concrete mixer if the second payment is missed by the buyer?
13. What is the effective annual interest rate for a continuously compounded interest rate of 12%?
14. Before a professor handed out the grades on the last exam, he wrote on the board that the class average was 78 with a standard deviation of 7. He also noted that the distribution of the grades was normal. Based on this information, which of the following statements is most likely true?
15. If the nominal annual interest rate is 18%, what is the effective annual interest rate?
16. What would be the best linear extrapolation of the points (0, 1) and (1, 3)?
17. If the total manufacturing cost for widgets is C(x) = 0.17x + 50,000, what is the cost of manufacturing 1,500 widgets?
18. A woman wishes to give $50 at the end of each month to a charity for two years. The interest rate that can be earned on the money is 12%. What is the present value of this gift?
19. Which of the following defines P/E ratio?
20. How would the credit terms be notated for a 2% discount in 20 days and net due in 30 days?
21. The percentage markup on a dress is 85%, and the dress is priced to sell at $185. What is the cost of the dress?
22. If a company’s current ratio is 2:1, what do you know about the company?
23. If a credit card company charges 1% per month, what is the APR?
24. Bryan wishes to prepare for his future retirement in 10 years. He deposits $85,000 at the end of each year for 10 years into an account paying 8% annually. How much will be in his account at the end of the 10 years?
25. A family pays 360 payments of $902.43 on a house mortgage. The original loan was for $250,000. How much was the total interest paid on this loan?

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