1. What is the End-of-Year Book Value of an asset with a total cost of $5,000, Salvage Value of $400, and life of 5 years at the end of the second year?

2. Calculate the total tax.

3. What is the maturity value of a $600 note at 13 percent for 30 days? Use 360 days in a year.

4. When Jane turned eighteen, she moved into an apartment. In order to protect her belongings, she should buy:

5. 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?

6. Juan Philips received his bank statement that shows a balance of $6,456.44. He has two outstanding deposits: $450.22 and $566.98. He has six outstanding checks: $22.00, $45.78, $99.32, $10.00, $6.78, and $55.45. What is his reconciled bank statement balance?

7. You purchased a pair of running shoes for $82.00. The trade discount rate is 40 percent. What is the dealer cost?

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. Dan Thomas had the following job expenses for last year: union dues, $388; licenses, $109; commuting cost, $1,478. His total job benefits for the same period were $39,256. Find his net job benefits.

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

11. Calculate the average daily balance for the month of June of a revolving credit account with a previous month's balance of $150.00 and the following activity: Purchase on June 4: $40; Payment on June 8 of $75; Purchase on June 12 of $42.18; Credit on June 15 of $18; and Purchase on June 27 of $102.30.

12. Jeremy Deaton purchased a home with a $78,500 mortgage at 9 percent for 15 years. What is the balance of the principal after the first monthly payment of $796.78?

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

14. Anthony had a loan in the amount of $7,500 at 18 percent for 2 years. What is the total amount Anthony repaid?

15. The president of the local supermarket earns $675 a week, is married and has one withholding allowance. He pays $12.45 for insurance, but also taxes, Social Security (6.2 percent of earnings) and Medicare (1.45 percent of earnings) are deducted. He lives in Florida where there is no state income tax. He pays 5 percent for his retirement. Federal tax for 0 deductions=$63; 1 deduction=$54; 2 deductions=$44. Compute his net pay rounding up.

16. Jessica Stuts took out a simple interest loan at 12 percent interest for 6 months. Her previous balance is $2,460. What is the final payment if the loan is paid off with the next payment?

17. Dan paid an annual premium of $5,285 for the building and contents for his business. He sold his business seven months after the policy was in force and cancelled the policy. The short rate percent for 7 months is 75%. What was his refund?

18. 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?

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

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

21. Find the sales tax on an item priced at $130 in a state which has a 6 percent tax rate.

22. A $2,500 bond has a quoted price of 90

23. What is the usual overtime rate for employees who work more than 40 hours in a given week?

24. Crystal Britt's credit card company charges an APR of 21 percent applied at a monthly periodic rate on the previous balance. Crystal's December statement showed: previous balance, $397.90; new purchases, $341.80; fees, $55; payments, $500; and purchase returns, $56.99. What is her finance charge for December?

25. 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?