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#### Review of Chapters 1-6

This review is due on **Monday, March 31st. NO lates** will be accepted. If your grade on this packet is higher than the March Review packet, then I will replace the March packet grades with this one. Please remember if an answer is in currency; please represent it properly($2. 20) in complete currency format and if it is asked as a fraction, please answer **as a fraction and reduce to lowest terms**.

**Please put ALL answers on the answer sheet**

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1)What is 22 5/6 % of 880?

2)Sales tax in New York City is 8.75%. How much sales tax would you pay on a car that cost $18,425?

3)What is 1/5 % of $5,000?

4)48 is what percent of 64? (round to nearest tenth of a percent)

5)Divide: 24 1/4 by 3 1/8

6)Add: 82 7/8 + ½ + 1/6 + 152/3 = ______

7)What is 36 2/5 divided by 3 1/4/?

8)12 1/3 – 6 4/5

9)If sales tax of 8.25% were added to an I-POD that cost $335, what would the I-POD cost?

10)Write 0.042 as a percent.

11)Rhonda leases a car for $415 a month on a 40-month lease. How much does she pay each year for her car?

12)An annual salary of $18,580 is equal to how much per week?

13)What part of 80 is 15? Show your answer as a fraction in simplest form.

14)A penalty of 8 months’ interest at 1.8% must be paid on an early withdrawal of $11,425 from a certificate account. What amount is the penalty?

15)Agnes ordered 300,000 machine parts. The cost of the parts was $92,000.00. What is the cost per part? (Round to nearest tenth)

16)5/8more than $360 is?

17)A salesman earned $310, $296, $278, and $322 each week for four weeks. What amount will he need to earn the fifth week in order to have a final average salary of $305 for the five weeks?

18)Mr. Douglas saw a house that he wanted to purchase. The house was valued at $245,000. The real estate agent told him that he needed to put a 15% cash down payment for the home. How much money did he need for a loan to buy the house?

19)Mark earns $4.72 cents for each part he finishes at work. This past week he completed the following number of parts per day: 43, 63, 87, 42, and 58. Of these 17 were defective, how much did he earn during the past week?

20)Rachel was renting a house for $580 per month, which she later purchased. How much can Rachel save each month by owning the house? If she bought the house, it would cost $4,092 for the first year.

21)Target is selling a patio set that regularly sells for $1,499. How much would you expect to pay for this item at 40% discount plus 8.25% sales tax?

22)David, a salesman, was paid a salary of $650 per month, plus a 5% commission on all sales. Last month, his sales amounted to $4,650. What were his total earnings for the month?

23)Janice is going to lease a 2007 Ford Fusion. They agree to pay $225 per month and 15 cents for every mile driven over 15,000 miles in one year. If Janice drives the car 18,000 miles each year for three years, what is the total cost of leasing the car for 3 years?

24)Mitch just bought a car for $2,400. He has a one-year loan with 7½%. Find how much interest he has to pay and then calculate the amount of his monthly car payment.

25)Jeremy is ready to buy a new Camero and wants to figure his monthly payment. The car costs $18,000. He is offered a loan of 9-½ % APR for 4 years. What is his monthly payment?

26)Ann worked one week Monday through Sunday (7 consecutive days) 8 hours per day. Her regular rate of pay is $10.28, she earns time-and-one-half for all work done on Saturdays and double-time for all work done on Sundays. What were Ann’s gross earnings for those 7 days?

27)Dale is paid a salary of $700 a month plus commission. He is paid 6 % commission on all sales, and an additional 2.5% commission on all sales over $10,000. Last month he sold $13,000 worth of goods. What was his gross pay?

28)Your home expenses are: Mortgage interest, $15,800; property taxes, $3,600; insurance, $685; depreciation, $1,775; repairs, $1,250; lost income on cash invested, $1,875. You expect to save $6,661 in income taxes from home expenses. What is your net cost of home ownership for this year?

29)Joe made $776 is commission on his sales of $26,000. What was his rate of commission(rounded to nearest percent)?

30)What is the total compound amount due for $16,000 at 9% compounded quarterly for 9 months?

31)The bank statement of Jake Hansen showed a balance of $351.93. His check register showed a balance of $303.34. When Jake compared the two records he found several differences. The bank statement listed these items not recorded in the register: ATM withdrawal, $50; ATM fee, $2.25; direct deposit of paycheck, $624.70; checks for $287.23, $180.11, and $72.89. A check for $85.89 was recorded in the register as $58.89. The items not listed on the bank statement included checks for $72.44, $9.76, and $113.57; and a $50 deposit made after the statement closing date. Debit card purchases of $85.67 and $16.73 appeared on the statement but not in the register. What is the correct amount of money in his account?

32)Derek Wilson checked his credit card statement and found a purchase for $26.99 that was unauthorized. He also found that a sales slip for $35.89 been listed as $38.59. If the new balance on his statement was $240.68, what was his correct new balance?

33)Ursula Johnson borrowed $460 on a cash advance from her credit card company. She was charged a daily periodic rate of 0.053% for the 25 days she had the cash advance. She was also charged a 4% cash advance fee. What was the total amount Ursula had to pay back?

34)The previous balance on Delaney Shuba's credit card is $454.87. He made $210 in new purchases this month, and his periodic finance charges are $5.32. His minimum payment is 3 % of his current balance, rounded to the nearest whole dollar. What is the minimum payment?

35)Raven Ingram's credit card has a previous balance of $325.62. She made $175 in new purchases during the billing cycle and made a payment of $50. She was charged $1.88 in finance charges. She wants to pay off the entire balance of the card. How much should she pay?

36)Ashley works a 40-hour week at $9.50 an hour with time and a half for overtime. Last week she worked 50 hours. From her earnings, her employer deducted FICA tax at a rate of 7.65% and income tax of $65.00. Her employer also deducted $45.66 for health insurance and $31.00 for union dues. What is her net pay?

37)The delivered price of Sue’s car is $23,560. She makes a $2,000 down payment and pays the balance in 48 monthly payments of $550. What total amount did Sue pay for the car, AND what was the finance charge?

38)Ursula Johnson borrowed $1,000 on a cash advance from her credit card company. She was charged a daily periodic rate of 0.053% for the 25 days she had the cash advance. She was also charged a 3% cash advance fee. What was the total amount Ursula had to pay back?

39)Veronica Cole earns $2,500 per month. She has a monthly student loan payment of $120 per month, and a car payment of $200 per month. She and her roommate share an apartment and split the $1,000 per month rent. What is Veronica's debt-to-income ratio, rounded to the nearest percent?

40)Sandy saved 1/18of her last years earnings of $68,000. What amount did she save?

41)The Smith Chair Factory usually works 8 hours a day, Monday through Friday. Workers get time and ½ for work over 8 hours per day. Olivia Bond works for Smith Chair and is paid a regular hourly rate of $12.46. One week she worked these hours: Monday, 4; Tuesday, 8 ½; Wednesday, 12; Thursday, 11; Friday, 6. During the week Olivia worked ______hours regular time, and ______hours overtime. Her total earnings for the week were $______.

**Please calculate simple interest for the following questions.**

42)$1,900 at 8 ½% for 26 months______

43) $1,980 at 4 ¼ % for 33 mo.______

**For the following questions, please calculate compound interest for all of the following without using the interest table.**

44)$24,500 at 8% compounded annually for 3 years. ______

45)$3,950 at 7.5% compounded quarterly for 9 months ______

46)Find the due date for each of the following notes. (Assume February has 28 days.)

**Date IssuedTimeDue Date**

Feb. 161 month ______

March 316 months______

April 1868 days______

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47)Find the number of days from .Number of Days

January 5 to March 21______

November 11 to January 28______

February 3 to May 5______

Name ______Score ______

Answer Sheet for March Review Packet

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