QUESTION 1 $4271.87 $4664.14 $3803.25 $5118.87 10 points QUESTION 2 $1296.56 $2590.32 $1583.07 $2012.04 10 points QUESTION 3 $601.87 $596.00 $1193.94 $590.13 10 points QUESTION 4 $2374.39 $2375.44 $2373.34 $2394.64

QUESTION 1 $4271.87 $4664.14 $3803.25 $5118.87 10 points QUESTION 2 $1296.56 $2590.32 $1583.07 $2012.04 10 points QUESTION 3 $601.87 $596.00 $1193.94 $590.13 10 points QUESTION 4 $2374.39 $2375.44 $2373.34 $2394.64 10 points QUESTION 5 Find the trade discount on a bicycle that lists for $80.95 if a discount rate of 15% is offered. Round to the nearest cent. $11.64 $12.14 $68.81 $68.31 10 points QUESTION 6 Find the net price of a bicycle that lists for $82.95 if a discount rate of 15% is offered. Round to the nearest cent. $70.51 $12.69 $12.44 $70.76 10 points QUESTION 7 Calculate the trade discount for 3 chairs if the unit price is $39 and a single trade discount of 6.25% is allowed. Round to the nearest cent. $73.13 $7.31 $41.44 $2.44 10 points QUESTION 8 The list price of a keyboard is $788. If the trade discount series offered is 10/30/20, find the net price by using the net decimal equivalent. $315.20 $472.80 $397.15 $390.85 10 points QUESTION 9 The list price of a car is $8760. It is available at either a 10/20/5 or a 35/30 trade discount series. Which trade discount series gives the better deal? By how much? 10/20/5, $2006.04 10/20/5, $2628.00 35/30, $2628.00 35/30, $2006.04 10 points QUESTION 10 Original price $1489.00; markdown $163.79. Find the reduced price and the rate of the markdown. •Reduced (new) price = $163.79 •Reduced (new) price = $1652.79 •Reduced (new) price = $1325.21 •Reduced (new) price = $1325.21 10 points QUESTION 11 Reduced price = $22.21; markdown rate = 35%. Find the original price and the markdown amount. •Original price = $14.44 •Original price = $34.17 QUESTION 12 An item sells for $524.00 and is reduced to sell for $440.16. Find the markdown amount and the rate of markdown. •Markdown amount = $83.84 •Markdown amount = $83.84 •Markdown amount = $70.43 •Markdown amount = $369.73 10 points QUESTION 13 Ann Preston is married, has a gross weekly salary of $543.74 (all of which is taxable), and the number of withholding allowances she claims is 1. Use the tax tables to find the federal tax withholding to be deducted from her weekly salary. $32 $33 $31 $30 10 points QUESTION 14 Mai earns a gross weekly income of $464.00. How much Social Security tax should be withheld the first week of the year? How much Medicare tax should be withheld? Assume a 4.2% FICA rate and a 1.45% Medicare rate. Round to the nearest cent. •Social Security tax = $1.95 •Social Security tax = $20.49 •Social Security tax = $194.90 •Social Security tax = $19.49 10 points QUESTION 15 Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year. $2140.00 $160.00 $140.00 $14.00 10 points QUESTION 16 Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year. $198.96 $157.84 $236.76 $197.30 10 points QUESTION 17 How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year? $793.15 $898.90 $674.18 $786.54 10 points QUESTION 18 Find the installment price of a table bought on the installment plan with a down payment of $30 and 6 payments of $51.12. $336.72 $30 $306.72 $366.72 10 points QUESTION 19 Find the amount financed on a TV with a cash price $430.00 and a down payment of $86.00. $86.00 $429.80 $344.00 $430.00 10 points QUESTION 20 Find the amount financed if a $25 down payment is made on a camera with a cash price of $260. $260 $235 $315.86 $25 10 points QUESTION 21 $15,000 at 1% compounded annually for 3 years $15,301.50 $15,454.50 $15,450.00 $15,300.00 10 points QUESTION 22 For the month ending June 30, TriCounty Nursery has net sales of $251,000, cost of goods sold of $99,000, and operating expenses of $70,000. Find the gross profit and net income. gross profit: $82,000; net income: $152,000 gross profit: $152,000; net income: $82,000 gross profit: $152,000; net income: $29,000 gross profit: $72,100; net income: $29,000 10 points QUESTION 23 $1.73; $30.56 $17.30; $46.13 $2.02; $30.85 10 points QUESTION 24 $68.47; $1046.55 $586.80; $1564.88 $58.68; $1036.76 10 points QUESTION 25 Use the straight-line method to complete the depreciation table for a combine harvester that costs $4300, has a salvage value of $300, and has an estimated life of 5 years. — Font family —- Font size — — Format –HeadingSub Heading 1Sub Heading 2ParagraphFormatted Code– Font family –Andale MonoArialArial BlackBook AntiquaComic Sans MSCourier NewGeorgiaHelveticaImpactSymbolTahomaTerminalTimes New RomanTrebuchet MSVerdanaWebdingsWingdings– Font size –1 (8pt)2 (10pt)3 (12pt)4 (14pt)5 (18pt)6 (24pt)7 (36pt)

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