Business Math Chapter 7

Leonard Williams purchased 300 shares of stock selling for $19.74 per share. His broker charged $215.75 in commission. What was the total cost of the stock to Leonard?

• 6437.75

• 6137.75

• 613.78

• 61377.50

Tags

CCSS.7.EE.B.3

2)Employees at Lancaster Manufacturing are responsible for paying 38% of their annual health insurance premium. If the total monthly premium for an individual policy is $92.50, how much does the company pay annually for each policy?

• 688.20

• 628.80

• 678.20

• 682.80

Tags

CCSS.6.RP.A.3C

3) Ted Miles bought a $150,000 term life insurance policy He paid an annual premium of $1.72 per $1,000 of insurance. What annual premium did he pay?

• 258

• 25.8

• 2580

• 285

Tags

CCSS.6.RP.A.3B

4) John's annual salary for the last years was $44, 450, $45,110, and $45,685. What is his average salary for the last three years?

• 45,880.67

• 45,081.76

• 45,881.63

• 45,081.67

Tags

CCSS.7.EE.B.3

4) John’s pension fund pays 1.75% of his average salary for the last three years for each year of service to the company. John spent 28 years with the company and his average annual salary for the last years was $45,081.67. What monthly pension will he receive?

• 22,090.18

• 1840.83

• 1843.40

• 18408.30

Tags

CCSS.6.EE.B.6

6) Maureen bought 100, $500, 7.25% bonds. What is her annual income from the bonds?

• 36,250

• 365.20

• 3652

• 3625

Tags

CCSS.7.RP.A.3

7) Jamal Winchester invested $75,000 in a property. He expects his annual expenses of owning the property to be $18,000. If Jamal wants to earn 8% annual net income on his capital investment, what monthly rent must he charge?

• 24,000

• 20,000

• 6,000

• 2,000

Tags

CCSS.8.EE.C.7B

8) An investor redeemed 500 shares of a mutual fund at their net asset value of $9.79. His total investment in the shares was $4,412.38. What was the investor’s profit or loss on the sale?

• 4,826.20 profit

• 4,895 profit

• 482.62 loss

• 482.62 Profit

Tags

CCSS.7.EE.B.3

9)(2 points) Kim was injured in an accident and can no longer work. Her disability policy will pay 55% of her average annual wages for the last 3 years. Her average annual wages for the last 3 years was $56, 923. What is Kim’s monthly disability benefit?

• 31,300.83

• 31,307.83

• 2,608.99

• 2,600.99

Tags

CCSS.6.RP.A.3C

List three potential sources of retirement income?

• Social Security, 506 B, Union Dues

• Both C or D

• Social Security, IRA, Company Pension Plan

• Social Security, Real Estate, IRA