Question 1

Nitin earns $48,000 per year. Determine his gross earnings each pay period in a year if he is paid biweekly. Assume there are 52 weeks in the year.

Accepted Answer

A)  $2,000 
B)  $4,000 
C)  $923.08 
D)  $1,846.15 
E)  $1,923.08

Question 2

How much is ½% of $10 accurate to the cent?

Accepted Answer

The answer of How much is ½% of $10 accurate...

Question 3

A homeowner's tax statement lists the following mill rates for various municipal services:  What is the property tax on a house assessed at $300,000?

Accepted Answer

A)  $4,464 
B)  $4,449 
C)  $4,725 
D)  $2,562 
E)  $2,700

Question 4

What percent of $65 is $1625?

Accepted Answer

A)  25% 
B)  2.5% 
C)  250% 
D)  2,500% 
E)  0.25%

Question 5

30 m is what percent of 3 km accurate to three significant figures?

Accepted Answer

The answer of 30 m is what percent of 3...

Question 6

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

Accepted Answer

The answer of Evaluate the answer correct to the cent:...

Question 7

The royalty rate performing artists receive from songs downloaded from Apple iTunes is 5.7%. If a band received royalties from Apple of $99,736.41 for a year, how many song downloads at $0.99 each did the band have for that year?

Accepted Answer

The answer of The royalty rate performing artists receive from...

Question 8

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?

Accepted Answer

A)  $49,000 
B)  $75,266.40 
C)  $149,000 
D)  $124,000 
E)  $100,000

Question 9

Evaluate the answer correct to the cent:
$\frac{\$ 750}{1+0.04 \times \frac{5}{12}}$

Accepted Answer

The answer of Evaluate the answer correct to the cent:
\(\frac{\$...

Question 10

Evaluate the following accurate to the nearest cent:
$\frac{\$ 780\left(1+\frac{0.0825}{2}\right)^{5}}{\left(1+\frac{0.10}{12}\right)^{8}}$

Accepted Answer

The answer of Evaluate the following accurate to the nearest...

Question 11

A seasonal manufacturing operation began the calendar year with 14 employees. It added seven on April 1, eight on May 1, and eleven more on June 1. Six were laid off on September 1 and another 14 were let go on October 1. What was the average number of employees on the payroll during the calendar year? (Assume that each month has the same length.)

Accepted Answer

The answer of A seasonal manufacturing operation began the calendar...

Question 12

Sonal bought a coat for $172.37, which included 7% PST and 5% GST. What was the selling price of the coat?

Accepted Answer

A)  $153.90 
B)  $193.05 
C)  $198.23 
D)  $196.50 
E)  $139.05

Question 13

The maximum amount an individual can contribute to his or her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the Regulations of the Income Tax Act. For the year 2016, the maximum contribution was the lesser of $23,820 or 18% of the individual's "earned income" during 2015. What was the lowest amount of earned income for 2015 at which an individual could make a full $23,820 contribution in 2016? (Round to the nearest dollar.)

Accepted Answer

The answer of The maximum amount an individual can contribute...

Question 14

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

Accepted Answer

The answer of Trevor earns a base monthly salary of...

Question 15

Nancy is a realtor and earns income based on a graduated commission scale. Nancy is paid $3, 000 plus 2.5% on the first $140,000; 1.5% on the next $300,000 and .5% on the remaining value over $440,000. Determine Nancy's commission earned after selling a $625,000 house.

Accepted Answer

A)  $5,500 
B)  $6,400 
C)  $9,750 
D)  $10,860 
E)  $11,925

Question 16

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?

Accepted Answer

A)  $1,538.46 
B)  $1,458.33 
C)  $3,076.92 
D)  $1,666.67 
E)  $3,333.33

Question 17

Evaluate the answer correct to the cent: $1700(1 + 0.04)³

Accepted Answer

The answer of Evaluate the answer correct to the cent:...

Question 18

The value of $\frac{7}{9}$ converted to four decimal places is 0.7778

Accepted Answer

A) True 
 B)False

Question 19

24 is 80% of 40

Accepted Answer

A) True 
 B)False

Question 20

Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5,000, 4% if his sales are over $8,000, and 5% if sales are over $15,000. How much will Nitin earn in a week in which his sales are $20,000?

Accepted Answer

A)  $1,200 
B)  $1,000 
C)  $800 
D)  $600 
E)  $200

Exam 1: Review and Applications of Basic Mathematics

Nitin earns $48,000 per year. Determine his gross earnings each pay period in a year if he is paid biweekly. Assume there are 52 weeks in the year.

How much is ½% of $10 accurate to the cent?

A homeowner's tax statement lists the following mill rates for various municipal services: What is the property tax on a house assessed at $300,000?

What percent of $65 is $1625?

30 m is what percent of 3 km accurate to three significant figures?

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

The royalty rate performing artists receive from songs downloaded from Apple iTunes is 5.7%. If a band received royalties from Apple of $99,736.41 for a year, how many song downloads at $0.99 each did the band have for that year?

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?

Evaluate the answer correct to the cent: $7501+0.04×512\frac{\$ 750}{1+0.04 \times \frac{5}{12}}1+0.04×125​$750​

Evaluate the following accurate to the nearest cent: $780(1+0.08252)5(1+0.1012)8\frac{\$ 780\left(1+\frac{0.0825}{2}\right)^{5}}{\left(1+\frac{0.10}{12}\right)^{8}}(1+120.10​)8$780(1+20.0825​)5​

Sonal bought a coat for $172.37, which included 7% PST and 5% GST. What was the selling price of the coat?

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

Nancy is a realtor and earns income based on a graduated commission scale. Nancy is paid $3, 000 plus 2.5% on the first $140,000; 1.5% on the next $300,000 and .5% on the remaining value over $440,000. Determine Nancy's commission earned after selling a $625,000 house.

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?

Evaluate the answer correct to the cent: $1700(1 + 0.04)3

The value of 79\frac{7}{9}97​ converted to four decimal places is 0.7778

24 is 80% of 40

Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5,000, 4% if his sales are over $8,000, and 5% if sales are over $15,000. How much will Nitin earn in a week in which his sales are $20,000?

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

Evaluate the answer correct to the cent: $\frac{\$ 750}{1+0.04 \times \frac{5}{12}}$

Evaluate the following accurate to the nearest cent: $\frac{\$ 780\left(1+\frac{0.0825}{2}\right)^{5}}{\left(1+\frac{0.10}{12}\right)^{8}}$

Evaluate the answer correct to the cent: $1700(1 + 0.04)³

The value of $\frac{7}{9}$ converted to four decimal places is 0.7778