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Business Math Exam 8
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Business Math Exam 8
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25 Questions

1. Gilbert Siegel obtained a $1,500.00 loan at an interest rate of 10 percent. The monthly payment is $131.85. What is the interest on the first monthly payment?
2. Lincoln Jefferson sold his motor scooter and received a check for two hundred eighty-one and 01/100 dollars. What is the amount of the check written as a numeral?
3. Colleen McHugh wishes to deposit checks for $13.75, $92.08, and $8.21 into her account. She would like to receive $15.00 back in cash. What is her total deposit?
4. Harold Chung keeps records of his expenditures. He wants to know how much he spends each month, on the average. His records for three months are shown below. What is his average monthly expenditure?
MonthExpenditure
September$1,988.00
October$2,234.50
November$2,099.00
5. Chica Sanchez’s checking account had a balance of $678.22. She wrote a check to pay her gasoline charge card for $17.21 and a check to the grocery store for $172.71. What is her new balance?
6. Benjamin Foster’s job as a social worker pays $43,500 a year. What is his monthly salary?
7. Anthony Patella earns $300.00 per week working part-time at his uncle’s restaurant. How much does he make in a year assuming he works the entire year?
8. The Flynns’ monthy budget allowed them to spend $555 for household expenses. During June and July they had a room in their home remodeled and spent a total of $2,035 for household expenses. How much did they overspend?
9. Jackie Pope is a professional singer. She tracks her transportation expenses to and from her performances. Her expense sheet looks like this:
Gas/Oil$30.00
Parking5.00
Tolls7.00
Commuting45.50
Pope budgets $100.00 per month for transportation. How much more or less are her expenses than the $100.00 budgeted?
10. Carleen Bailey works at CD Warehouse eight hours a day, earning $9.48 an hour. She is asked to work two additional hours at time and a half to help prepare for an incoming shipment. How much will she earn for these two hours of overtime?
11. Colleen Truman earns a 4.5 percent commission on all sales. In October her sales totaled $40,000.00. How much did she earn in commission?
12. Liana Lytle’s gross pay is $26,300.00. She takes a married exemption of $4,000.00. Her state income tax rate is 5.5 percent. How much will she pay in state tax?
13. Stephen Snell has $400.00 in his savings account. His annual interest rate is 4 percent. What is the interest after six months?
14. Tracy’s Trends Store sells a line of dresses at a regular price of $40.00. The store marks down the dresses 25 percent. What is the sale price of one of these dresses?
15. Martin Long purchased a roast beef sandwich for $2.55. He had a coupon for $0.50. What is the final price of the sandwich?
16. Rafiq Jackson’s monthly budget allows him to spend $175 for groceries. In August he spent $85 and in September he spent $123. How much more or less did he spend than budgeted?
17. Marilyn and Thomas Meyer keep records of their expenditures. They want to know how much they spend each month, on the average. Their records for four months are shown below. What is their average monthly expenditure?
Month Expenditure
January$3,878.54
February$2,465.27
March$3,232.98
April$2,768.09
18. Lena Craig’s charge account statement showed a previous balance of $1,100.00, a finance charge of $6.00, new purchases of $700.00, and a payment of $180.00. What is her new balance?
19. Tim Hanes’ bank granted him a single-payment loan of $1,000 for 100 days at 12 percent ordinary interest. What is the maturity value of the loan?
20. Seven hundred sixty-six and 70/100 dollars as a numeral is:
21. Sally 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?
22. Jill Janzen’s gross weekly pay is $298.00. Her earnings to date for the year total $14,900.00. What amount is deducted from her pay this week for Social Security, which is taxed at 6.2 percent?
23. Reka Rahim’s charge account statement showed a previous balance of $6,242.22, a finance charge of $22.12, new purchases of $497.50, and a payment of $6,750.00. What is her new balance?
24. Oliver Kite tracks his transportation expenses to and from work for one month. His expense sheet looks like this:
Gas/Oil$45.75
Parking7.23
Tolls10.25
Commuting61.00
Kite budgets $115.00 per month for transportation. How much more or less are Kite’s expenses than the $115.00 budgeted?
25. Aneas Arnold sells lighting supplies. She travels all over New England. Her total monthly expenses for August, September, and October were $2,700.00, $1,100.00, and $2,200.00. What was her average monthly expenditure?

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