Exam 1: Review and Applications of Basic Mathematics

Evaluate $\$ 675\left[\frac{\left(1+\frac{0.065}{4}\right)^{6}-1}{\frac{0.065}{4}}\right]$

What amount is 233.3% of $75 accurate to the cent?

$75 is 20% of what amount?

A recent poll of 2,000 Canadian families showed that 1,200 had 3 computers in the house; 400 had 2 computers; 250 had 1 computer and the remaining families had no computer. Based on this poll, the average Canadian household has 2 computers.

The assessment on a farm consists of $143,000 for the house and $467,000 for the land and buildings. A mill rate of 15.0294 applies to residences, and a rate of 4.6423 applies to agricultural land and buildings. What are the total property taxes payable on the farm?

Bill is paid on a graduated commission scale of 1% on his first $200,000 in sales, 2% on the next $300,000, and 4% on all additional sales in a month. What is Bill's average commission rate on monthly sales totalling $600,000?

Ignoring the quantities sold, what was the average unit selling price for the three stores?

A provincial Minister of Education recently announced that his government's forecast expenditure of $32.4 billion on education next year represents 23.5% of the provincial budget. Rounded to the nearest million dollars, what is the province's total budget for the next year?

If the total of all assessed values rises by 5% over the current assessment, at what value must next year's mill rate be set?

Evaluate the following to the correct cent: $\$ 550.45\left(1+0.0875 \times \frac{195}{365}\right)-\frac{\$ 376.29}{1+0.0875 \times \frac{99}{365}}$

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures: $\frac{1}{6}$

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures: $\frac{0.095}{12}$

Manfred is considering job offers of the same type of sales position from two retailers with similar product lines. Supreme Audio & Video is offering a base salary of $2,000 per month plus a 4% commission rate on sales. Buy-Right Electronics will pay him a base salary of $1,500 per month plus commission rates of 3% on the first $25,000 of sales and 6% on additional sales in a month. Based on past experience in sales positions, Manfred is confident he can attain average monthly sales of $55,000. At this level of sales, what would be his average gross earnings per month from each retailer?

Istvan earns an annual salary of $61,000 as an executive with a provincial utility. He is paid biweekly. During a strike, he worked 33 hours more than the regular 75 hours for a two-week pay period. What was his gross pay for that period if the company agreed to pay 1.5 times his equivalent hourly rate for overtime? (Assume that a year has exactly 52 weeks.)

Svetlana is an independent insurance broker placing various clients with any of several insurance companies. On homeowner insurance policies, each month she receives: (i) $20 for each renewal of an existing policy, (ii) $35 per policy placed with a new client, and (iii) 5.5% of the annual premiums on all insurance policies (both new and renewals) written in the month. In October, she placed 37 new-client policies representing $14,375 in annual premiums and 126 policy renewals representing $47,880 in annual premiums. What amount did Svetlana earn in October?

The distribution of scores obtained by 30 students on a quiz marked out of 10 is listed below. What was the average score on the test?

The final price of a LCD television was $2,016 that included 5% GST and 7% PST. The value of GST and PST were $90 and $126 respectively.

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures: $\frac{0.11}{12}$

What amount is 0.075% of $1650 accurate to the cent?

The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy: $\frac{47}{20}$