Financial Mathematics

If a budget allows 20% for car costs, how much is allocated from a weekly wage of $600?

• $480

• $120

• $240

• $100

Adam is paid $18.60 per hour. His gross income for 7.5 hours of work is:

• $130.90

• $132.20

• $209.25

• $139.50

Phoebe earns $975 per week. Using 52 weeks in a year, her annual income is:

• $18.75

• $50 700

• $9750

• $25 350

Angus works 35 hours per week earning $647.50. His wage for a 38-hour week would be:

• $18.50

• $24 605

• $647.50

• $703

Eliza sells houses and earns $500 a month plus 5% commission on all sales. In the month of July, she sold one house for $956 000. Eliza’s gross income for July is:

• $48 300

• $47 825

• $47 775

• $47 800

Matthew repays a loan of $8000 by monthly installments of $250 for 5 years. The amount of interest charged is:

• $7250

• $15 000

• $1250

• $7000

Austin invests $10 000 in a simple interest bank account that pays 5% annually. How much will be in his bank account after 3 years?

• $10 150

• $11 500

• $1500

• $12 500

How long does Maya need to invest $4000 at 5% p.a. simple interest in order to produce $100 interest?

• 2 months

• 5 years

• 6 months

• 2 years

Victoria’s regular hourly wage is $17.60 per hour. If the overtime Victoria works is 4 hours at time and a half and 2 hours at double time, then her overtime pay is:

• $61.60

• $140.80

• $105.60

• $176

Luke sells property and earns $49 000 commission on the sale of a farm sold at 2.45 million dollars. His rate of commission is:

• 20%

• 0.025

• 2%

• 24%p.a