1. Ratios are different from proportions in that ratios are the comparison of two numbers through division and:

2. Global Charters purchased 820 tires rated at 45 pounds each for its fleet of buses. The tires had a retail price of $92 each. The sales tax is 9.5 percent and the federal excise tax is $0.10 per pound. What is the total purchase price of the tires?

3. Best Insurance Co. bases its premiums for home insurance on a rate of $.38 per $100 of coverage. To encourage customers to insure their homes for a longer time period, the company offers the following term rates. Premiums are rounded up to the nearest dollar. Period: 2 years; Term Rate: 1.85 times annual rate | Period 3 years; Term Rate: 2.7 times annual rate | Period: 4 years; Term Rate: 3.55 times annual rate | What is the premium on a two-year term rate policy on a home insured for $68,500?

4. Susan purchased 100 shares of stock at $15 7/8 per share and her transaction cost is $12.50. What is the total amount Susan paid for the stock?

5. Bailey bought a car for $8,625 and later sold it for $7,750. By what percentage did the car depreciate?

6. Tony is 40 and wants to purchase $250,000 of term life insurance. What is his premium for the first year?

7. Maturity value is:

8. Conrad's credit card company charges an annual percentage rate of 18 percent. What will be the monthly rate Conrad will be charged on any unpaid balance?

9. You deposit $1,000 in a bank that has a 10 percent reserve. How much money has your $1,000 created after four deposits?

10. Linda took out student loans to pay for college. She makes a payment of $215/month for 4 years to pay off the loan. How much does she pay in 4 years?

11. Alan Moore decides he is going to attend all five BCS football bowl games. The average ticket price was $640. Alan paid $425 to attend the Fiesta Bowl, $450 to attend the Sugar Bowl, $675 to attend the Rose Bowl and $575 to attend the Orange Bowl. How much was his ticket to attend the fifth BCS bowl game, the BCS Championship game?

12. The mathematical average is called the:

13. Dianne Wilkins purchased a $4,250 bond at the quoted price of 83 1/2. The bond paid interest at a rate of 5 percent. What is the cost of the bond?

14. Which of the following services are not typically available to customers with online banking?

15. What is the selling price of an $11.81 item with a markup of 34 percent?

16. Calculate the interest on a one-year CD with an initial deposit of $4,000 earning 5 percent interest compounded semiannually. What will the balance be at the end of one year?

17. A heating and air conditioning unit cost $1,500. There is a $300 shipping charge and it will cost $200 to hire an installation technician. After 5 years, the unit will have a salvage value of $200. The depreciation in Year 2 using the straight-line method is:

18. Rose's charge account statement showed a previous balance of $6,472.82, a finance charge of $12.95, new purchases of $1,697.08, and a payment of $4,900.50. What is her new balance?

19. Calculate the inventory turnover ratio using the LIFO method.

20. Using the following numbers, 12, 84, 12, 18, 16, 48, 36, 12, 34, 35, 76, 54, 18, what is the median?

21. Erin Marlow's checking account had a balance of $235.42. She writes one check for $36.75 to purchase a pair of jeans and another for $6.75 to purchase a book. What is the new balance on Erin's account?

22. Emily had $375.71 in her checking account and wrote checks for $69.75, $54.75, and $57.50. What is Emily's account balance after she makes a deposit of $218.25?

23. Dennis Lynn can refinance a mortgage by paying $716 in closing costs and $485 for a prepayment charge. His current monthly mortgage payment is $982. The monthly payment for the refinanced mortgage will be $876. If he refinances the mortgage, how much will he save in the first year?

24. Your Social Security tax rate is 6.2% and Medicare rate is 1.45%. If your gross earnings are $1,750, what are your total Social Security and Medicare taxes?

25. Compute the mean for the following values: 15, 20, 90, 80, 10