1- Add the fractions 1/3, 5/8, and 3/8 and reduce your answer to lowest terms.
=
=
=
2- Find the value of X in the equation 9(2x-18)=36.
18x – 162 = 36
18x = 36 + 162
18x = 198
x = 198 / 18
x = 11
3- Janet took a standardized test that contained 328 questions. She answered 75% of the questions. How many questions did she answer?
= 328 × 75%
= 246
4- A children's store sells a toy racetrack for $94.25. The owner uses a 45% markup based on cost. What was the wholesale cost of the racetrack?
=
= $65
5- Eric works at a factory where he earns $9.24 an hours. He receives time-and-a-half for overtime and double time for work on saturday. He worked 52 hours this week, with 8 hours overtime and 4 hours on saturday. What was his gross pay for this week, including overtime and double time?
Number of regular working hours = 52 – (8 + 4) = 52 – 12 = 40
Gross Pay = (40 × $9.24) + (8 × $9.24 × 1.5) + (4 × $9.24 × 2)
= $554.4
6- What is the simple interest on a $14,500 loan at 9% interest for 5 years? Round your answer to the nearest dollar.
i = prt
i = $14,500 × 9% × 5
= $6,525
8- What would be the monthly payment on a $100,000 mortgage at a rate of 8 1/2% for 20 years?
Formula: =$100,000/(1-(1/((1+(0.085/12))^(20*12)))/(0.085/12)
= $100,000 /(1-(1/((1.00708))^(240)))/(0.007083)
= $100,000 /(1-(1/((5.44124))/(0.007083)
= $100,000 /(1-(0.183782))/(0.007083)
= $100,000 /(0.816218)/(0.007083)
= $100,000 /(115.231)
= $867.82
9- Find the median of the following set of numbers: 463, 582, 401, 533, 457, 514, and 438.
401 438 457 463 514 533 582
Median = 463
10- Ted bought four lawn chairs for $22 each, a picnic table for $212, and an umbrella for $85. If the sales tax rate is 6%, what was his total bill?
(($22 × 4) + $212 + $85) × 1.06
= $408.10
11- Mrs. Butler bought 1,800 shares of Stairwell Mutual Fund at an offer price of $3 per share. She later sold the shares at a net asset value of $4.60 per share. During the time Mrs. Butler owned the shares, Stairwell Mutual paid a dividend of $0.80 per share. What is Mrs. Butler return on investment? Show all your work.
Total Amount Paid = 1,800 × $3 = $5,400
Dividends Received = 1,800 × $0.8 = $1,440
Amount Received = 1,800 × $4.60 = $8,280
Total Amount Received = $1,440 + $8,280 = $9,720
Return on Investment = ($9,720 / $5,400) - 1 = 0.8 = 80%
12- Use this table to answer question # 12
The candle shop-----annual inventory of candles
january1---- beginning inventory----5,000 units@ $0.89
feb 15 ---- purchase------10,000 units@$0.69
april 15 ---- purchase------2,000 units@ $1.09
july 15 ---- purchase------4,000 units @ $0.99
october 15 ---- purchase------1,000 units @ $1.19
december 15 ----purchase------2,000 units @ $1.09
Imagine that you're the manager of the candle shop. The table above contains your records of annual inventory figures for candles. Using the FIFO method of inventory pricing, what is the dollar value of ending inventory if there were 17,000 units on hand on December 31? Show all your work.
$15,030
Please see the attached excel sheet for calculations
13- Use this table to answer question 13.
------customer invoice------
stock number-----quantity-----unit------merchandise description----unit price
24795------150------ea.------calculator------$10.63
32678------150------ea.------stapler------$4.95
82493------80------box------pencils------$1.29
67028------50------box------erasers------$2.48
75962------25------box------paper------$15.49
49753------75------box------pens------$9.58
******************shipping charges are $110.10*************************
An invoice for office supplies is shown above. Based on the information in the invoice, calculate the invoice total. Show all your work.
$3,780.05
Please see the attached excel sheet for calculations