Question 1

What percent does a tax rate of 25 mills per dollar equal? That is, the tax is what percent of the value?

Accepted Answer

A)  2.5 
B)  3.0 
C)  25 
D)  30 
A)  2.5 
B)  3.0 
C)  25 
D)  30 A

Question 2

How much interest will $200.00 earn in one year if the interest rate is 8 1/4%?

Accepted Answer

A)  $15.50 
B)  $16.50 
C)  $17.50 
D)  $18.50 
A)  $15.50 
B)  $16.50 
C)  $17.50 
D)  $18.50 B

Question 3

What percent does a tax rate of $4.00 per hundred dollars equal?

Accepted Answer

A)  0.4 
B)  2 
C)  4 
D)  40 
A)  0.4 
B)  2 
C)  4 
D)  40 C

Question 4

A car is valued at $4,550.00. If the personal property tax rate is $18.00 per thousand, how much is the owner taxed?

Accepted Answer

A)  $78.90 
B)  $79.90 
C)  $80.90 
D)  $81.90 
A)  $78.90 
B)  $79.90 
C)  $80.90 
D)  $81.90

Question 5

An automobile repair shop owner has a plant with equipment valued at $335,000.00. If the tax rate in the community is 35 mills, what is the tax bill?

Accepted Answer

A)  $10,725 
B)  $11,725 
C)  $12,725 
D)  $13,725 
A)  $10,725 
B)  $11,725 
C)  $12,725 
D)  $13,725

Question 6

The amount borrowed is called the ____________________.

Accepted Answer

The answer of The amount borrowed is called the ____________________....

Question 7

The ____________________ is the amount of time of the loan.

Accepted Answer

The answer of The ____________________ is the amount of time...

Question 8

If a technician deposits $1,000.00 in a bank at 7.45%, how many years must the technician wait for the amount to double? Use the Rule of 72 and round to the nearest hundredth.

Accepted Answer

A)  7.24 
B)  8.23 
C)  9.66 
D)  11.44 
A)  7.24 
B)  8.23 
C)  9.66 
D)  11.44

Question 9

The amount charged for the use of the principal is the ____________________.

Accepted Answer

The answer of The amount charged for the use of...

Question 10

How much interest will $35,000.00 earn in one year if the interest rate is 6 1/2%?

Accepted Answer

A)  $2,275 
B)  $2,375 
C)  $2,425 
D)  $2,550 
A)  $2,275 
B)  $2,375 
C)  $2,425 
D)  $2,550

Exam 20: Interest and Taxes

What percent does a tax rate of 25 mills per dollar equal? That is, the tax is what percent of the value?

How much interest will $200.00 earn in one year if the interest rate is 8 1/4%?

What percent does a tax rate of $4.00 per hundred dollars equal?

A car is valued at $4,550.00. If the personal property tax rate is $18.00 per thousand, how much is the owner taxed?

An automobile repair shop owner has a plant with equipment valued at $335,000.00. If the tax rate in the community is 35 mills, what is the tax bill?

The amount borrowed is called the ____________________.

The ____________________ is the amount of time of the loan.

If a technician deposits $1,000.00 in a bank at 7.45%, how many years must the technician wait for the amount to double? Use the Rule of 72 and round to the nearest hundredth.

The amount charged for the use of the principal is the ____________________.

How much interest will $35,000.00 earn in one year if the interest rate is 6 1/2%?

Addition of Whole Numbers

Subtraction of Whole Numbers

Multiplication of Whole Numbers

Division of Whole Numbers

Addition of Common Fractions

Subtraction of Common Fractions

Multiplication of Common Fractions

Division of Common Fractions

Fractional Equivalents

Addition of Decimal Fractions

Subtraction of Decimal Fractions

Multiplication of Decimal Fractions

Division of Decimal Fractions

Micrometer Reading-Application of Decimal Fractions

Multiple Operations of Common and Decimal Fractions

Simple Percent

Simple Percentage

Discounts

Profit, Loss, and Commissions

Percent of Error and Averages

English Linear Measurements

Metric Measurements

Scale Reading

Scale Reading of Test Meters

Circular Measurement

Angular Measurement

Area and Volume Measurement

Time, Speed, and Money Calculations

Ratios

Proportions

Formulas for Circular Measurement

Formulas for Efficiency

Temperature

Cylindrical Volume Measurement

Horsepower

Ohms Law

Use of Graphs

Repair Orders and Shop Tickets

Filters