Business Math Unit 2 Final

Graduated commission means that each sales associate earns a different commission rate.

• True

• False

Cleveland and Briana Baker keep records of their expenditures. They want to know how much they spend each month, on average. Here are their records for 4 months. What is their average monthly expenditure?

• $5,342.98

• $6,876.88

• $4,589.98

• $5,269.38

Sylvester Williams’ annual salary is $40,500. He takes a single exemption. Using the graduated income tax rates from Figure 2.6, find the annual state tax withheld.

• $2,785.50

• $2,300.00

• $2,502.50

• $2,765.02

Patrice Rodrick receives her bank statement for the month. Her balance is $430.52. In comparing her checkbook register, canceled checks, and bank statement, she finds that checks #224 and #250 are outstanding. The amounts are $32.50 and $62.80. What is Patrice’s adjusted balance?

• $335.22

• $463.02

• $493.32

• $525.82

Use Figure 2.2. Sheryl Jones works for a company that uses a percentage method to compute income tax withheld. Sheryl is single and claims two allowances. The weekly withholding for each allowance is $61.54. She earns $480.00 a week. Find the amount of income tax withheld.

• $67.13

• $38.69

• $53.43

• $53.98

A bank __________ shows the status of your account.

Indicate whether the statement is true or false. Living expenses usually do not vary from month to month.

• True

• False

Use Figure 3.1. What is the Thompsons’ mortgage payment?

• $675.00

• $765.50

• $765.00

• $465.00

Andy Eichel deposits the money he made at his garage sale into his savings account. He has 47 twenty-dollar bills, 51 ten-dollar bills, 25 five-dollar bills, and 36 one-dollar bills. What is his total deposit?

• $1,811

• $1,310

• $1,711

• $1,611

Linda Rove is paid $6.39 for each table she assembles. Last week she assembled the following number of tables. What was Rove’s pay for the week?

• $460.08

• $465.75

• $475.75

• $455.09