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FINANCIAL MATHEMATICS - FINAL EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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FINANCIAL MATHEMATICS - FINAL EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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FINANCIAL MATHEMATICS - FINAL EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!john works 40 hours a week as a carpenter. he spends 60% of this time building decks and 40% installing siding. john is paid a different hourly wage for each type of labor. let x represent the hourly wage for building decks and yy represent the hourly wage for installing siding. which expression represents john's weekly income? Answer- 24x + 16y
the bennetts spend $10,000.00 on a home improvement project. they make the purchase with a credit card that has a 9% apr. they decide to make $150.00 monthly payments.
how many months will it take to pay off the credit card balance? Answer- 93
maddie has a gross monthly income of $2200. she has 35% of her paycheck withheld as deductions.
she pays $400 for rent. what percent of her net monthly pay goes to rent? Answer- 28
according to the table, what is the tax for a single person with $24,589 in taxable income? Answer- $2,674
a landscaping company charges a flat rate of $50, plus $15 per acre. John wants a price quote on the cost of yard work for his plot of land.
which expressions represent the cost of servicing x acres of john's land? select all that apply. Answer- $50 + $15x
jose wants to start a restaurant and is writing a business proposal. his rent is $1,000 per month. the monthly operating costs are equal to the wages paid to the employees, w, plus the business overhead, k. jose wants his monthly sales revenue, x, to be 4 times greater than the operating costs.
which expressions show the cost of running the business over the given time period?
match the statements with the function that best represents its cost. Answer- his yearly profits : 12x-$12,000-12w-12k
his monthly costs of operations : $1000 + w + k
his semiannual costs of operations : 6($1000 + w + k) his monthly profits : x-($1000+w+k)
his yearly costs of operations : $12000 + 12w + 12k
alice has an income of $52,000. she has an $8,300 exemption for her dependents. her deductions are $2,560 for medical expenses and, as a teacher, $250 for educational supplies.
what is her net taxable income? Answer- $40,890
maria has a $5,000 investment with an annual compound interest rate of 15.6%.
after how many years will the initial investment have doubled in value? Answer- 5
review the table with fees for bank a and federal credit union (fcu) b. which statements are true? select all that apply. Answer- fcu b offers a better option for using checks.
three overdrafts per month cost more at fcu b.
an ending balance of $250 at bank a costs $5.00.
an ending balance of $2000 at bank a earns $2.00.
bill receives a monthly stipend of $800. he also works at a bookstore making $8 an hour. he wants a monthly income of $1,200.
how many hours does he need to work each month? Answer- 50
samuel withdraws $5,000 each month from his bank account to finance his new business. his account had an initial balance of $325,000.
after how many months will his balance be $175,000 if he makes no deposits to the account? Answer- 30
alexander is a waiter. he gets paid $3.25 per hour plus tips based on his performance. which expression represents alexander's salary? Answer- 3.25x + y
pamela is a college student. she pays tuition every semester and rent every month, and she uses cash daily for food. the expression 2x + 12y + 365z represents her yearly expenses.
which variable represents her rent? Answer- y
levi would like to use a credit card to make a $3000 purchase. he is considering two credit options. the first requires a down payment of $1000 followed by monthly payments of $125. the second requires a down payment of $1300 followed by monthly payments of $110. the two options accumulate the same amount of interest and require the same number of monthly payments.
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