Exam 1: Review and Applications of Basic Mathematics

Evaluate =

Hasad is paid an annual salary of $54,600 based on a 40-hour workweek. What is his gross pay for a biweekly pay period if he works 43 hours in the first week and 46.5 hours in the second week? Overtime is paid at time and a half.

Anthony began the year with $96,400 already invested in his Snow 'n Ice retail store. He withdrew $14,200 on March 1 and another $21,800 on April 1. On August 1, he invested $23,700, and on November 1 he contributed another $19,300. What was his average cumulative investment during the year? (Assume that each month has the same length.)

The following grades are from the first business mathematics test in the semester. What is the class average?

The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

Evaluate the answer correct to the cent: (18 ÷ 3 + 6) × 2

Evaluate the answer correct to the cent: 54 - 36 ÷ 4 + 2²

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

350% of what amount is $1,000 accurate to the cent?

The RBC Royal Bank offers an "add-on option" on fixed-rate mortgages. The option allows the customer to borrow additional funds partway through the term of the mortgage. The interest rate charged on the combined mortgage debt becomes the weighted average of the old rate on the former balance and the current competitive rate on new mortgage financing. Suppose Herschel and Julie had a mortgage balance of $37,500 at 8%, when they borrowed another $20,000 at 7%. What interest rate will they be charged by the RBC Royal Bank on the new consolidated balance?

When a company calculates its earnings per common share for its financial statements, it uses the weighted-average number of common shares outstanding during the year. Suppose Enertec Corp. began its fiscal year (January 1 to December 31) with 5 million shares outstanding. On March 1, it sold a new public offering of 1 million shares. On June 1, employees and officers exercised stock options resulting in the issue of 500,000 common shares. On November 1, another 750,000 shares were issued when holders of convertible bonds chose to exercise the conversion privilege. What was the average number of common shares outstanding during the year? (Assume that each month has the same length.)

Evaluate the answer correct to the cent: (3 × 4 - 2)² + (2 - 2 × 7²) }

¾% of what amount is $1.00?

Evaluate the answer correct to the cent:

Evaluate -14(2) + 16 ÷ 32 + 4 =

$10 is 0.5% of what amount accurate to the cent?

Evaluate

Evaluate the answer correct to the cent: [(20 + 8 × 5) - 7 × (- 3)] ÷ 9

Marilyn is paid a base salary of $1,500 per month and a commission of 6% on all sales over $75,000. Last month, Marilyn's gross salary was $4440. What were her sales for the month?

Your regular workweek is 7.5 hours per day for five days. If you do not work on seven public holidays and you receive two weeks' vacation, what percentage of the total hours in a year are you actually at work? Assume that a year has exactly 52 weeks.