CONS MATH PRETEST 3rd Hr.

Front

What is a down payment?

Back

A down payment is an initial upfront payment made when purchasing a home, typically expressed as a percentage of the total purchase price.

Front

How do you calculate 10% of a given amount?

Back

To calculate 10% of an amount, multiply the amount by 0.10.

Front

If a person earns $12.50 an hour, how do you calculate their weekly earnings?

Back

Multiply the hourly wage by the number of hours worked in a week.

Front

What is the formula to find total earnings if hours worked are doubled?

Back

Total earnings = Hourly wage x (Hours worked x 2).

Front

What are real numbers?

Back

Real numbers include all rational and irrational numbers, encompassing integers, fractions, and decimals.

Front

What is the purpose of a tax form?

Back

A tax form is used to report income, calculate taxes owed, and claim deductions or credits.

Front

What is the 1040 tax form used for?

Back

The 1040 tax form is used by individuals to file their annual income tax returns in the United States.

Front

What does it mean to be a 1099 employee?

Back

A 1099 employee is a self-employed individual who receives income without tax withholding and is responsible for paying their own taxes.

Front

What is the difference between a W-2 and a 1099 form?

Back

A W-2 form is used for employees to report wages and taxes withheld, while a 1099 form is used for independent contractors to report income.

Front

How do you determine the total cost of a house after a down payment?

Back

Total cost = Purchase price - Down payment.