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FBLA Business Calculations Test 3
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FBLA Business Calculations Test 3
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25 Questions

1. Shari earned $84.00 last month babysitting. She spent $56.00 of it during the month. What percentage of her month's earnings did she save?
2. Stevens purchased a $1,000 bond at 94
3. A refrigerator sells for $1,162 on the installment plan. If you make a down payment of $100 and pay the balance over 18 months, what is the amount of each monthly payment?
4. The price of a 15 oz. Box of cereal is $3.99. What is the price per pound?
5. On sales of $34,000, a salesperson earns $2,720 in commissions. What is the rate of commission on the sale?
6. Jones is paid an hourly wage rate of $7.50 for the first 40 hours. He is paid time-and-ahalf for any hours over 40 hours. Last week Jones worked a total of 44.5 hours. What was his gross pay for the week?
7. Anita deposited the following items into her account at her bank: 12 twenty dollar bills; one roll of quarters; $1.25 in loose change; and $322.94 in checks. She received 50 onedollar bills in cash back. How much did she deposit in her account?
8. Adam earns $540 per week. What is his net pay if he has the following deductions: 6.75% for Social Security; 1.55% for medicare; and 10% federal withholding.
9. Smith purchased a new car for $24,000 and paid an additional sales tax of $1,800. What is the sales tax rate on the purchase?
10. A book company sells approximately 9 million paperback books each year. Sales for the entire paperback book market totals approximately 30 million books per year. What is the company's market share for paperback books?
11. James estimates his total net earnings for next year to be $42,600. If she plans to save 15% of her net income, what amount will she be able to save?
12. Melanie purchased 100 shares of stock at $106.30 per share. Her internet online stockbroker charged her a commission of $15.95 on the transaction. What is the total amount that she paid for the stock?
13. Calculate the exact interest on a $12,000 loan for 65 days at 7% per annum.
14. At the rate of 10 oranges for $1.50, how many oranges can you buy for $2.40?
15. A school store orders one case of pencils at a wholesale price of $14.40. Each case contains two gross. What is the cost of each pencil?
16. Ajax Sports rents retail store space in a shopping center at an annual cost of $8.00 per square foot. The rented space totals 5,000 square feet. How much is the monthly rental cost?
17. Smith earns a weekly salary of $450 plus a 3% commission on sales over $3,200. Last week his total sales were $4,400. What were his gross earnings for the week?
18. Benson receives an annual salary of $40,664. She is paid biweekly. What amount does she receive as gross earning each pay period?
19. Penny leased a vehicle. She pays $403.50 per month for 48 months. Her deposit was $1,600. She paid a $75 title fee and $55 license fee. What is her total lease cost on the car for the four-year period?
20. A fee charged for the privilege of buying now and paying later is known as __________.
21. Bennett is paid on a piece-work basis. She receives 12.5 cents for the first 3,000 units completed and 15.5 cents for any units over that quantity. Last 3,250 units. What was her gross pay for the week?
22. Find the amount of interest payable on a personal loan of $2,000 for 60 days at an annual interest rate of 6%.
23. NYS FBLA rents a copy machine for use at its annual conference. The base rental is $150 per day plus two cents per copy made. What is the total rental cost for three days and for 2,000 copies?
24. What is the amount due at maturity on an eighteen-month loan for $3,200 at a rate of7.5%?
25. Matthews paid an average of $32 per month in finance charges on his credit card last year. His credit card company charges an annual fee of $75. What is Matthews' total cost of credit for the year?

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