Basic Business Math review

Bob is working for a bank. He earns $8.00 an hour, works 40 hours a week, and gets paid every 2 weeks. Every pay period he pays $63.08 into federal withholdings tax, $33.21 into state withholdings tax, and $42.05 into FICA (Social Security Tax). What is Bob’s net pay on his paycheck?

• $501.66

• $363.32

• $576.92

• $640.00

A plan for how to manage your money is called a ?

• income

• budget

• investment

What is income?

• the amount you spent

• the amount you don't save

• money that you earn

paying for something with money that is borrowed and must be paid back, usually with interest

• credit
• income
• salary

You start reading a book at 3:00 PM and finish at 4:30 PM. How much time did you spend reading?

• 1 hour

• 1 hour and 15 minutes

• 1 hour and 30 minutes

• 2 hours

A bus schedule shows that the bus leaves at 8:15 AM and arrives at 9:00 AM. How long is the bus ride?

• 30 minutes

• 45 minutes

• 1 hour

• 1 hour and 15 minutes

If you buy 3 apples at $0.50 each, what is the total cost?

• $1.00

• $1.50

• $2.00

• $2.50

You start your homework at 6:45 PM and finish at 7:30 PM. How much time did you spend on your homework?

• 30 minutes

• 45 minutes

• 1 hour

• 1 hour and 15 minutes

If you buy 4 pencils at $0.25 each, what is the total cost?

• $0.75

• $1.00

• $1.25

• $1.50

Leo spent $31.40 on a new jacket.  He paid using two twenty dollar bills.  How much change did he receive?

• $8.60
• $9.60
• $71.40
• $51.40