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Business Mathematics Study Set 1
Exam 1: Review and Applications of Basic Mathematics
Path 4
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Question 201
True/False
The value of
1
80
\frac{1}{80}
80
1
is .135
Question 202
Short Answer
Mrs. Simone invested $10,000 at 5%, $15,000 at 4%, and $20,000 at 3%. Calculate Mrs. Simone's overall rate of return.
Question 203
Short Answer
The town of Simcoe is considering raising the $2 billion required for a sports complex by approving a new capital levy component of the property tax. The levy must be collected over the next five years. If the total assessed value of property in the town is $875 billion, what additional tax will a home owner of a property assessed at $300,000 pay?
Question 204
True/False
The value of
350
(
1
−
.
075
×
60
365
)
350\left(1-.075 \times \frac{60}{365}\right)
350
(
1
−
.075
×
365
60
)
is 345.68
Question 205
Short Answer
The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:
−
9
16
-\frac{9}{16}
−
16
9
Question 206
Short Answer
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?
Question 207
Short Answer
Ivory hand-soap is advertised as being
99
44
100
99 \frac{44}{100}
99
100
44
% pure. (It floats!) How many milligrams of impurities are in a 150-gram bar of Ivory soap?
Question 208
Multiple Choice
Evaluate the following:
3
(
2
+
1
)
2
+
5
2
4
−
3
2
\frac{3(2+1) ^{2}+5^{2}}{4-3^{2}}
4
−
3
2
3
(
2
+
1
)
2
+
5
2
Question 209
Short Answer
Round the following to four-figure accuracy: 1.0023456
Question 210
Short Answer
a) To the nearest whole percent, what percentage is the HST of an HST-inclusive price in New Brunswick? b) The total price including HST of an item is $171.35. What is the amount of HST included in the price?