Financial Math B

The following graph represents the cost and revenue functions for custom-made computers. How many computers have been sold at the break-even point? a. 12 b. 9 c. 5 d. 0

a. 12

What is the probability of rolling a prime number of a standard 20-sided die? (1 is not a prime number.) a. 7/20 b. 2/5 c. 9/20 d. 1/2

b. 2/5

Which step is not part of the 5-point credit card debt elimination plan? a. calculate how much money you earn each month b. list all of your current credit cards c. add up all the amounts you have in the minimum payment column d. pay only the minimum amount on all credit cards

d. pay only the minimum amount on all credit cards

The following chart shows a store's records of sales of stuffed toys for two months. Which of the following are accurate assessments of trends displayed in this graph? I. The market share held by cats increased by about 6.5 percentage points. II. Roughly 22.2% more stuffed toys in the "other" category were sold in October than in September. III. The total number of stuffed toys sold increased by about 2%. a. I and II b. II only c. I and III d. I, II, and III

WRONG c. I and III

Last month, Korey's Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey's net profit margin. a. 42.5% b. 55.7% c. 76.3% d. 179.5%

a. 42.5%

In general, reducing the interest rate (i) of a credit card but keeping the present value (PV) and number of periods (n) the same will __________. a. decrease the monthly payment (P) needed to pay off the debt b. increase the monthly payment (P) needed to pay off the debt c. eliminate the monthly payment (P) needed to pay off the debt d. have no effect on the monthly payment (P) needed to pay off the debt

a. decrease the monthly payment (P) needed to pay off the debt

What is equilibrium, from an economic perspective? a. the theoretical price point at which demand equals supply b. a state of "all other things being equal" c. a condition in which no buying or selling is occurring d. an economy functioning without outside intervention

a. the theoretical price point at which demand equals supply

If a letter of the alphabet is chosen at random, what is the probability that it will be a vowel? (Y is not a vowel.) a. 1/2 b. 3/13 c. 1/5 d. 5/26

d. 5/26

Which of the following is not a component included in a standard business plan? a. implementation plan b. organization plan c. market analysis d. credit analysis

d. credit analysis

Which of the following choices is not a step that can reduce your spending? a. eating at home, rather than dining out b. using budgeted cash only c. forgoing premium cable TV channels d. purchasing reduced fat lattes during the week

d. purchasing reduced fat lattes during the week

A bicycle helmet cost $41.40 in 1983. What will a bicycle helmet cost when the CPI is 186? Round to the nearest cent. a. $222.58 b. $144.60 c. $77.00 d. $72.30

c. $77.00

What kind of graph is characterized by presenting values as coordinate points without any connecting element? a. bar graph b. line graph c. scatter plot d. histogram

c. scatter plot

Hal is going over the credit scores he received from the three major credit bureaus. He Experian score is 711, his Equifax score is 736, and his TransUnion score is 736. What is the mode of Hal's credit scores? (Round to the nearest whole point, if applicable.) a. 736 b. 728 c. 723 d. There is no mode in this group.

a. 736

A jacket costs $72.90 before it is marked down 42%. What is its new price, to the nearest cent? a. $30.62 b. $42.28 c. $49.57 d. $51.34

b. $42.28

A batch of tiles, shown below, is placed into a bag. Ariana randomly draws one tile from the bag, records it, puts it back in the bag, and draws another tile. What is the probability that Ariana will draw a purple tile first and a red tile second? a. 17/60 b. 1/30 c. 1/5 d. 1/60

d. 1/60

The higher interest rate of a cash advance on a credit card with an existing balance can be eliminated by paying the cash advance back within four weeks.

F

Kevin is looking at two brands of washing machines. Between water and electricity, a Brand C washer uses about $0.65 per load, and a Brand D washer uses about $0.27 per load. Kevin averages about five loads of laundry per month. After one year, how much more would the utility costs for a Brand C washer be than the utility costs for a Brand D washer? a. $22.80 b. $16.20 c. $7.60 d. $19.00

a. $22.80

On the Fahrenheit scale, at what temperature does water boil? a. 451°F b. 264°F c. 212°F d. 100°F

c. 212°F

Kurtis is expecting a promotion which, hopefully, comes with a raise. He would like his raise to help him correct a high debt-to-income (DTI) ratio of 43%. His current annual salary is $53,000. How much of a raise would Kurtis need applied to his annual salary to get his DTI ratio down to a more reasonable 36%? a. $4,437 b. $8,627 c. $10,305 d. $63,305

c. $10,305

Henry wants to avoid interest capitalization on his $7,800 unsubsidized Stafford loan. Henry will graduate in four years, and the loan has a duration of ten years. The loan has an interest rate of 5.6%, compounded monthly. How much must Henry pay every month to avoid interest capitalization? a. $14.56 b. $43.68 c. $36.40 d. $31.20

c. $36.40

Roderigo has just finished paying back his $8,575 unsubsidized Stafford loan, which he took out to fund his four-year degree. The loan had a duration of ten years and an interest rate of 7.1%, compounded monthly. Roderigo will allow interest capitalization. If Roderigo made monthly payments to pay off his loan, how much interest did he pay in total? Round all dollar values to the nearest cent. a. $4,547.02 b. $3,426.20 c. $7,353.80 d. $5,436.20

c. $7,353.80

How many four-digit personal identification numbers (PIN) are possible if the PIN cannot begin or end with a 0 and the PIN must be an even number? a. 3,600 b. 4,000 c. 4,500 d. 8,100

a. 3,600

Which of the following is least likely to be a warning sign that one's debt is at a critical point? a. all credit cards are at their limits b. having several credit cards c. making only minmum payments on credit cards d. using cash advances to pay bills

a. all credit cards are at their limits

Last month, Korey's Comics had a gross profit of $4,370 and a net income of $3,500. Calculate Korey's operating expenses for last month. a. $787 b. $870 c. $7,870 d. $8,700

b. $870

The following graphs show the respective sales data of two store branches, east and west. All profits are listed in thousands of dollars. Which graph does not show the same data as the others? I. II. III. IV. a. I b. II c. III d. IV

b. II

Last month, Korey's Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey's gross profit margin. a. 42.5% b. 55.7% c. 76.3% d. 179.5%

c. 76.3%

The following graph shows the sales records of four employees over a period of six months. Which employee experienced the single greatest decline in sales between two months? a. Mary b. Lewis c. Todd d. Paige

d. Paige

Atlanta, GA has a CPI of 168. Seattle, WA has a CPI of 204. How does the purchasing power of an Atlanta resident earning a $32,800 salary compare to the purchasing power of a Seattle resident earning a $46,400 salary? a. The Atlanta resident has $34.46/CPI more than the Seattle resident. b. The Atlanta resident has $83.20/CPI more than the Seattle resident. c. The Seattle resident has $48.74/CPI more than the Atlanta resident. d. The Seattle resident has $32.21/CPI more than the Atlanta resident.

d. The Seattle resident has $32.21/CPI more than the Atlanta resident.

A floor lamp originally cost $44.50. Over a period of two months, it underwent the following changes in price. 62% Markup 15% Markdown 18% Markup 20% Markup 45% Markdown What is the final price of the floor lamp? Round all dollar values to the nearest cent. a. $62.30 b. $47.72 c. $35.60 d. $24.48

b. $47.72

A desk chair underwent the following changes in price before being removed from the store. 22% Markup 30% Markup 36% Markdown 40% Markup 18% Markdown If the final price of the desk chair was $167.79, what was the original price, to the nearest dollar? Round all dollar values to the nearest cent. a. $88 b. $122 c. $144 d. $196

c. $144

What are the mean and mode of the data set? 37 29 36 39 43 32 29 a. mean: 39, mode: 29 b. mean: 35, mode: 43 c. mean: 35, mode: 29 d. mean: 39, mode: 43

c. mean: 35, mode: 29

Jennifer is leasing a car from a local auto retailer. The terms of the lease include a 9% interest rate for 36 months with a residual value of 57%. The MSRP for the car Jennifer is leasing is $17,500. What will Jennifer's monthly lease payment be? a. $93.84 b. $99.75 c. $209.03 d. $312.06

d. $312.06

Darryl's credit card has a minimum monthly payment of 2.51% of the card's balance. If Darryl currently owes $1,431.72, what is his minimum payment, to the nearest cent? a. $29.95 b. $33.67 c. $2.99 d. $35.94

d. $35.94

The legally mandated disclosure of terms and conditions found on every credit card is called the "Schuyler Box."

F

A store marks down the price of a necklace from $389.85 to $314.15. By what percent did the price decrease? Round to two decimal places. a. 13.21% b. 15.75% c. 19.42% d. 24.10%

c. 19.42%

An identity thief watches someone enter a four-digit PIN and manages to see that the first digit is 3. They also know that the second digit is either 4 or 7. If the thief tries guessing the PIN, how many possiblities would there be? a. 100 b. 162 c. 180 d. 200

d. 200

Which statement(s) most directly apply to capitalism? I. There is heavy government regulation of industry. II. Individuals can start some, but not all, kinds of enterprises. III. The price and availability of goods is determined primarily by the market. a. I and II b. II only c. I and III d. III only

d. III only

Determine the monthly payment of a loan for $3,000 at 7.5% interest compounded monthly for 36 months. a. $93.32 b. $95.40 c. $211.33 d. $253.60

a. $93.32

Scott is planning to buy a new car. He intends to trade in his existing car, a 2001 Chrysler Concorde in good condition. Using the table below, estimate how much Scott's car is worth. a. $2,781 b. $1,842 c. $2,288 d. $1,998

d. $1,998

When purchasing her new car, Molly traded in her previous car, which was a Buick in good condition. The dealer offered her 80% of the listed trade-in value for her car, giving her a total of $1,340.80. What was Molly's previous car? a. 1999 LeSabre b. 2002 Century c. 2001 Riviera d. 1998 Regal

d. 1998 Regal

Sally is near the end of a three year lease on a car with an original MSRP of $38,000. Her leasing company claims that the car is now worth only $28,500. Which percentage represents the residual value of Sally's leased car? a. 25% b. 33% c. 67% d. 75%

d. 75%

Place the following temperatures in order from coldest to hottest: 20°C, 36°C, 75°F, 94°F a. 20°C, 75°F, 94°F, 36°C b. 75°F, 20°C, 36°C, 94°F c. 20°C, 36°C, 75°F, 94°F d. 75°F, 20°C, 94°F, 36°C

a. 20°C, 75°F, 94°F, 36°C

Based on a $500 loan amount, rank the following companies from the lowest to highest annual percentage rate (APR). Company Fees Charged Term of Loan A $60 20 days B $50 12 days C $75 15 days D $100 8 days a. A, B, C, D b. B, A, C, D c. D, B, C, A d. D, C, B, A

a. A, B, C, D

The following table shows a portion of a three-year amortization schedule. After two years, how much has been paid into interest? a. $4,628.14 b. $1,246.10 c. $978.96 d. $1,912.05

b. $1,246.10

June has decided to take up quilting. She bought a sewing machine for $135. It costs her $11.75 in raw materials to make a quilt, and she can sell a quilt for $28.50. Which of the following graphs best illustrates June's situation? I. II. III. IV. a. I b. II c. III d. IV

a. I

Paul has decided to take a trip to the United Kingdom. While he is there, he hopes to visit several different cities, which are shown in the table below. The table also includes how much money Paul expects to spend in each city, taking into consideration transportation, lodging, and so on. All costs listed are in pounds sterling (£). City Cost (£) Bristol 76 Leicester 66 Glasgow 91 Leeds 60 Belfast 72 Paul's sightseeing budget is £300. What is the cheapest city that Paul can drop from his plans and still stay under budget? a. Leicester b. Leeds c. Bristol d. Belfast

a. Leicester

Lily sells loose tea for $0.71 per gram. If one gram is equivalent to 0.035273 ounces, how much does it cost to buy 0.45 pounds of Lily's tea? a. $108.70 b. $144.93 c. $536.77 d. $715.69

b. $144.93

June has a credit card balance of $4,350 that comes with a 19% APR. She would like to have the balance paid off in the next 8 months, but she is having trouble making the monthly payments required to do so. In order to lower her monthly payments, she decides to sell her porcelain doll collection for $2,000 to apply directly to her credit card balance. June still wants to pay off the balance in 8 months. By applying the doll money, how much has June lowered her minimum monthly payment? a. $145.62 b. $268.14 c. $315.06 d. $583.20

b. $268.14

Patrick has a credit card with an APR of 15.40% and a billing cycle of 30 days. The following table shows Patrick's credit card transactions in the month of August. Date Amount ($) Transaction 8/1 1,466.22 Beginning balance 8/6 28.48 Purchase 8/9 150.00 Payment 8/17 115.75 Payment 8/20 40.00 Purchase 8/22 31.76 Purchase How much greater will Patrick's August finance charge be if his credit card company computes finance charges using the previous balance method than if it computes finance charges using the adjusted balance method? a. $2.44 b. $3.41 c. $2.13 d. $4.69

b. $3.41

Janessa wants to pay off her credit card balances within 12 months. She is trying to decide if she should use her $1,000 in savings to pay off part of the balances or if she should transfer the balances to a new card with a low introductory rate. The new credit card has an introductory rate of 6.5% but charges a balance transfer fee of $50 for each balance transfer. Janessa decides to pay of Credit Card B and $420 of Credit Card A, then transfer the remaining balance of Credit Card A to the new card. Which of the following options shows the amount of Janessa's new monthly payment? Credit Card A: $957 Credit Card B: $580 a. $54.97 b. $50.66 c. $18.12 d. $46.34

b. $50.66

Sam is planning to start a pool cleaning business from his home. He has developed the following cost analysis for the set-up and operation for the first year of his business. He has $9,000 in savings and $23,000 in credit that he can use for the business. Will Sam be able to afford the operational costs of the first year of business on his own? Item Cost Truck $9,000 Pool Cleaning Supplies $6,000 Payroll $23,000 Advertising $1,500 a. No, Sam will be short $7,500. b. No, Sam will be short $15,500. c. Yes, Sam will have $7,500 to spare. d. Yes, Sam will have $15,500 to spare.

a. No, Sam will be short $7,500.

Claudius took out an unsubsidized Stafford loan at the beginning of his six-year college career. The loan had a principal of $4,850, an interest rate of 6.5% compounded monthly, and a duration of ten years. If Claudius started paying off the loan when he graduated, what is his monthly payment? Round all dollar values to the nearest cent. a. $71.37 b. $81.25 c. $55.07 d. $76.55

b. $81.25

Cesar is excited that he only has 12 months left before he pays off his credit card completely. His current balance is $3,750 and his APR is 17.5%. But when he is involved in a car accident, he is forced to use his credit card to pay a $1,000 deductible to get his car fixed. How much will Cesar's minimum monthly payment increase if he still wants to pay off his credit card in 12 months? a. $83.33 b. $91.44 c. $342.91 d. $434.35

b. $91.44

Below are the demand and supply equations for overhead projectors in a certain market. In these equations, p represents price, D represents demand, and S represents supply. What is S at the point of equilibrium, to the nearest whole number? a. 12 b. 15 c. 58 d. 67

b. 15

A three-character password is to be created by choosing characters from the digits 0 through 5 inclusive, vowels (a, e, i, o, u), or 5 special keyboard characters. If only one character category can be used at a time, rank the following from smallest to largest based on the number of possibilities for a password. 1. digit, digit, vowel 2. vowel, special character, vowel 3. special character, vowel, digit a. 1, 3, 2 b. 2, 3, 1 c. 3, 2, 1 d. They are all equal.

b. 2, 3, 1

In order to better decide how to market a new line of clothing, Mary is researching the demographics of the customers of a certain clothing store. She counted the number of customers who visited the store over the course of a month, and found out how many of the customers were high school students. Her collected data is in the table below. Week 1 2 3 4 Customers 2,848 3,141 3,861 3,911 Students 2,033 1,937 2,076 1,721 Mary predicts that the store will see 4,238 customers next week. Approximately how many high school students should the store expect next week? a. 1,865 b. 2,392 c. 2,446 d. 3,025

b. 2,392

As a manager of a restaurant, you are working on creating a graph to demonstrate the makeup of your staff. The data you are to present is shown in the table below. Task Employees on Task Table waiting 8 Food preparation 14 Cleanup 6 Supervision 4 If you wish to emphasize the relation of each group to the whole, what kind of graph would be appropriate? a. pie chart b. bar graph c. pictograph d. scatter plot

a. pie chart

Oliver is looking to go to college. His family does not have very much money, so he qualifies for need-based financial aid. Oliver needs to spend most of his time working at his full-time job, so he will only be able to take a few classes per semester. Oliver's parents have poor credit scores and cannot afford to take on any more debt. Based on Oliver's situation, recommend a federal loan which would be appropriate for him. a. subsidized Stafford loan b. unsubsidized Stafford loan c. private student loan d. PLUS loan

a. subsidized Stafford loan

Below are the supply and demand equations for blenders in a certain market. In these equations, p represents price, D represents demand, and S represents supply. What is p at the point of equilibrium, to the nearest tenth? a. 56.0 b. 43.3 c. 37.4 d. 36.7

b. 43.3

How many 4-digit personal identification numbers are possible if the number cannot contain a zero? a. 5,040 b. 6,561 c. 9,000 d. 10,000

b. 6,561

Of the following approximate conversions of Fahrenheit into Celsius, which is most accurate? a. 14°F -10.8°C b. 78°F 25.3°C c. 106°F 41.7°C d. 7°F -12.9°C

b. 78°F 25.3°C

The following graph displays the cost and revenue functions for Jake's homemade wicker baskets. How many baskets must Jake sell to break even? a. 10 b. 8 c. 4 d. 0

b. 8

Describe the effect an increase in i, the interest rate applied to the present value, has on the monthly payment P in the formula a. An increase in i, the interest rate, will not change P, the monthly payment. b. An increase in i, the interest rate, will create an increase in P, the monthly payment. c. An increase in i, the interest rate, will create a decrease in P, the monthly payment. d. An increase in i, the interest rate, can increase or decrease P, the monthly payment, depending on the value of PV.

b. An increase in i, the interest rate, will create an increase in P, the monthly payment

Based on a $400 loan amount, rank the following companies from the lowest to highest annual percentage rate (APR). Company Fees Charged Term of Loan A $40 5 days B $50 12 days C $80 15 days D $100 20 days a. A, B, C, D b. B, D, C, A c. D, B, C, A d. D, C, B, A

b. B, D, C, A

List 3 responsibilities that a consumer has when making a purchase.

1. Check your receipt so you know you were charged correctly. 2. Know the return and exchange policies in case there's a problem with the product. 3. Read the fine print so you know the details of the transact

The chart below shows one store's sales of computers, listed by model. If the changes in sales between May and June continue at the same rate, how many total computers will be sold in July? a. 534 b. 721 c. 1,019 d. 1,254

b. 721

Using the above supply/demand graph, what is the price at the point of equilibrium? a. 105 b. 100 c. 95 d. 80

a. 105

Rachel has just completed a study of precipitation in three different locations over the course of a year. The data she wishes to present in graph form is shown in the table below, with precipitation listed in inches. Boston Phoenix Minneapolis January 3.27 0.45 1.04 February 3.44 0.48 .76 March 3.10 0.71 1.12 April 3.89 0.31 2.10 May 3.75 0.17 3.15 June 3.12 0.09 5.11 July 2.98 0.11 5.78 August 3.07 0.33 4.65 September 3.15 0.52 3.61 October 3.55 0.40 3.22 November 3.42 0.42 2.34 December 3.44 0.29 1.84 Rachel wants her graph to emphasize the relation of each city's precipitation to each other city's at each point in time. What kind of graph would be appropriate? a. bar graph b. line graph c. pictograph d. histogram

b. line graph

The CPI in 1970 was 38.8. The CPI in 2007 was 207.3. The purchasing power of $50,000 in 1970 was _____ the purchasing power of $200,000 in 2007. a. less than b. more than c. the same as d. not comparable to

b. more than

Which of the following expenses is not a fixed cost? a. equipment leases b. packaging costs c. insurance d. salary

b. packaging costs

A consumer charges a $46.92 purchase on a credit card. The card has a daily interest rate of 0.039%. If the consumer pays off the balance at the end of 30 days, how much in interest will be paid for the purchase? a. $0.06 b. $0.18 c. $0.55 d. $5.49

c. $0.55

Lisa needs to arrive in Ankara from Istanbul in the next 5 hours. She wants to save as much money as possible, while minimizing her travel time to allow for more sightseeing. She looks at the local transportation options and determines the possibilities for that particular day in the table. Which mode of transportation should Lisa choose if she wants to minimize her cost and maximize her sightseeing time? a. bus b. rental car c. train d. airplane

c. train

Which of these is not a method used to calculate finance charges? a. adjusted balance b. average daily balance c. usual balance d. previous balance

c. usual balance

Which method of debt reduction saves you the most money in interest? a. debt rollover method b. paying off highest interest rate debt first c. debt snowball method d. paying off lowest interest rate debt first

b. paying off highest interest rate debt first

Susan took out a personal loan for $3,500 at an interest rate of 13% compounded monthly. She made arrangements to pay the loan off in 3 years. What will her monthly payment be? a. $99.34 b. $105.32 c. $117.93 d. $156.60

c. $117.93

Say that Malaysia has a workforce of 11,071,016, with an average yearly salary of (equivalent US dollars) $15,196. How much more revenue will the Malaysian government gather if it sets the income tax at 17% than if it sets the income tax at 8%, to the nearest million dollars? a. $21,059 million b. $16,824 million c. $15,141 million d. $13,459 million

c. $15,141 million

Priscilla decides to order a delivery from the local sandwich shop. Her order comes to $12.74 and there is a $2.30 delivery charge. When the food is delivered, Priscilla adds on to her receipt a charge of 15% of her total, not including the delivery charge, as a tip for the driver. When Priscilla goes to check her debits on her online bank statement, what amount should she expect as her total debit? a. $14.65 b. $15.04 c. $16.95 d. $17.30

c. $16.95

Bob is thinking about leasing a car with a MSRP of $24,000 for three years. After three years, the leasing company expects the car to have a value of 72% of its original MSRP. What will the residual value of the car be after three years? a. $3,000 b. $6,000 c. $17,280 d. $33,333

c. $17,280

A full-length mirror cost $144.99 when the CPI was 163. What will a full-length mirror cost when the CPI is 211, to the nearest cent? a. $305.93 b. $214.59 c. $187.68 d. $88.95

c. $187.68

Bill works as a waiter and is keeping track of the tips he earns daily. About how much does Bill have to earn in tips on Sunday if he wants to average $22 a day? a. $14 b. $22 c. $28 d. $36

c. $28

Bob's car needs a new transmission, a repair that will cost $1,763.00. Bob does not have enough money in his savings account to cover the cost of the repair. To make matters worse, Bob's mechanic, who works out of his home, is unable to accept credit cards. Bob is hesitant to take out a cash advance on his credit card knowing that it will take him 12 months to pay of the balance and that a cash advance comes with a 30% interest rate. If Bob uses a cash advance to pay for the repairs, how much extra will he have to pay in interest? a. $146.92 b. $171.87 c. $299.44

c. $299.44

Jan went grocery shopping and only bought items which had been marked down. The items she bought, along with their prices, can be seen below. Item Final Price Markdown Chicken $8.47 15% Milk $2.16 20% Onions $0.89 10% Potato chips $1.45 12% Oranges $1.36 25% Flour $4.39 18% Compared to if she had bought no items on sale, by what percent was Jan's total grocery bill discounted? Round to two decimal places. a. 15.85% b. 16.50% c. 16.65% d. 17.50%

c. 16.65%

Sam's Swimming Pool Cleaning has an annual gross profit of $88,400. Sam charges $25 per week for each of his customers for 52 weeks. His annual operating expenses, including labor and supplies, are $48,000. How many customers does Sam's Swimming Pool Cleaning have? a. 17 b. 35 c. 68 d. 105

c. 68

Ian is preparing for his trip to South Korea. He has a total budget of 2,192,896 won for his entire trip. If he calculates that he will need 85,210 won for an extended travel pass, 725,726 won for his plane tickets, 203,396 won for food, and 322,800 won for his hostel room, how much does he have left for spending money and miscellaneous expenses? a. 1,337,132 won b. 1,026,184 won c. 855,764 won d. 830,456 won

c. 855,764 won

Carolyn selected a tile randomly from the set shown below. What is the probability that she selected a white tile or a tile with an even number? a. 8/15 b. 1/72 c. 1/4 d. 9/20

d. 9/20

What are the total amount of choices possible if an individual is to create a 4 digit password using the digits 0 through 9 inclusive, but not using the digit 0 as the first character of the password? a. 39 b. 900 c. 399 d. 9000

d. 9000

Which agency is responsible for supervising programs related to housing needs and community development? a. AARP b. OSHA c. HHS d. HUD

d. HUD

Which of the following is not a method used on graphs to lead the reader to misinterpret the graph? a. Use inconsistent scales on one or both axes. b. Reverse the x- and y-axes to obtain a more convincing graph. c. Comparing two sets of related data on the same graph for the sake of comparison. d. Begin the scale of one or both axes at a number other than zero without notifying the reader.

c. Comparing two sets of related data on the same graph for the sake of comparison.

Of the following statements, which one or ones describe actions helpful to your credit score? I. Quickly paying off debts II. Having recent debts III. Having long-standing lines of credit a. I only b. II and III c. I and III d. III only

c. I and III

Emma enjoys flying kites. Her red kite has a maximum altitude of 117.46 meters, and her black kite has a maximum altitude of 362.26 feet. One foot is the same as 0.3048 meters. Which kite has a higher maximum altitude, and how many feet higher is it? a. The black kite has a maximum altitude 74.62 feet higher than the red kite. b. The black kite has a maximum altitude 33.66 feet higher than the red kite. c. The red kite has a maximum altitude 23.11 feet higher than the black kite. d. The red kite has a maximum altitude 7.04 feet higher than the black kite.

c. The red kite has a maximum altitude 23.11 feet higher than the black kite.

Which of the following terms best applies to a reversal of economic output which occurs just before a period of new economic growth? a. boom b. expansion c. recovery d. recession

c. recovery

A store is selling a green rug for $54.50 and a white rug for $31.85. The green rug is marked down by 12%, and the white rug is marked up by 16%. After the markup and markdown, which rug is more expensive, and how much more expensive is it? Round all dollar values to the nearest cent. a. The white rug is $1.09 more expensive than the green rug. b. The white rug is $5.35 more expensive than the green rug. c. The green rug is $1.44 more expensive than the white rug. d. The green rug is $11.01 more expensive than the white rug.

d. The green rug is $11.01 more expensive than the white rug.

Consider the following graph, which indicates collected data on the weight of a certain species of swallow and the number of leaves it weaves into its nest. What aspect of this graph is likely being emphasized by the choice of graph style, choice of scale, and so on? a. the unrelated nature of the data b. the broad differences over short intervals c. the total values of the data as a whole d. the indirect connection between weight and leaf content

d. the indirect connection between weight and leaf content

Analyze the following computer password in terms of how secure it might be. Describe the criteria you use in determining its strengths and weaknesses. born2ski4evr!

It is good that there are numbers and punctuation, but there are no capitals and it is whole words instead of seemingly random numbers. It is also good that there are 13 characters.

Describe the key things that set predatory lenders apart from other lenders.

Predatory lenders have extremely high loan rates and late fees. The annual percentage rate (APR) is typically a killer, as well as high processing fees.

You are in charge of managing the advertising for a restaurant. You are able to buy up to 62 advertisements a month, and your data from the previous month shows that you need to buy at least 5 newspaper ads for every 3 television ads to draw in the most customers. What is the greatest number of newspaper and television ads you could buy? 30 newspaper ads, 27 television ads 32 newspaper ads, 30 television ads 40 newspaper ads, 21 television ads 45 newspaper ads, 18 television ads

40 newspaper ads, 21 television ads

The figure above shows a store's supply-demand graph for lawn chairs. If the store makes $800 by selling lawn chairs, which of the following is a possible valid price for them? a. $50 b. $40 c. $25 d. $20

d. $20

What is the first step in the decision-making process, and why is it important?

The first step in the decision-making process is to define the objective. Doing so is important because you must have a goal in mind before you can know how to reach it.

What consumer protection agency is known by the acronym FTC? a. Federation of Traders and Consumers b. Foreign Tariff Committee c. Federal Trade Commission d. Fair Trade Community

c. Federal Trade Commission

How can credit cards be safer than cash? a. It is harder to lose a single credit card than a large number of bills. b. A credit card requires a signature, so it is impossible for anyone other than you to use. c. If a merchant does not hold up their end of an agreement, you can call the credit company and dispute the charges. d. Cash can be miscounted, but credit cards cannot.

c. If a merchant does not hold up their end of an agreement, you can call the credit company and dispute the charges.

Charlene has a monthly salary of $3,410. With her present budget, Charlene has a net income that is 7% of her monthly salary. Charlene is going to reduce her net income by $125 each month and put this money towards paying down her debt. What will Charlene's new net income be? a. $113.70 b. $176.70 c. $229.95 d. $238.70

a. $113.70

Brandon has two credit cards and would like to consolidate the two balances into one balance on the card with the lower interest rate. The table below shows the information about the two credit cards Brandon currently uses. Card A Card B Amount $957.00 $1,476.12 APR 11% 15% Monthly Payment $18.22 $31.21 After 6 years, approximately how much will Brandon have saved in interest by consolidating the two balances? a. $224.64 b. $935.28 c. $901.20 d. $145.44

a. $224.64

Jack works as a waiter and is keeping track of the tips he earns daily. About how much does Jack have to earn in tips on Sunday if he wants to average $19 a day? a. $25 b. $16 c. $35 d. $15

a. $25

Lewis recently filed bankruptcy and now has a poor credit rating. He moved into an apartment and is setting up new accounts for his electric and cable. The deposits and connection fees for customers based on their credit rating are shown below. Electric Deposit Electric Connection Fee Cable Deposit Cable Connection Fee Good Rating $90 $50 $65 $75 Poor Rating $205 $75 $150 $110 How much more in deposits and fees will Lewis pay to have his electric and cable turned on because of his bankruptcy? a. $260 b. $280 c. $360 d. $540

a. $260

The following graph shows a bus's record of the number of passengers it picked up over the course of a day. How many people rode the bus during the 12:00 hour? a. 55 b. 43 c. 41 d. 36

a. 55

The following graph shows the relationship between cost and revenue for a manufacturer of lab coats. Which of the following pairs of equations best suits this graph? Cost I Cost II Revenue III Revenue IV a. I and III b. I and IV c. II and III d. II and IV

a. I and III

Which of the following is not a way Ian Dicker claims a Business Intelligence Dashboard will help you to make good business decisions? a. allowing five different methods with which to monitor your business b. increasing data-sampling rate, providing more data points for analysis c. offering a central point by which the organization or team can monitor progress d. reducing decision-making time by viewing the business progress visually rather than numerically

a. allowing five different methods with which to monitor your business

Below is an excerpt from the home loan contract Kyle signed with his bank. "The sum of the principal of the loan and all applicable interest will be divided into 360 monthly payments according to the amortization schedule. The Buyer shall make each monthly payment by the first day of the month it is due. A payment not received by the first day of the month it is due will be considered delinquent. A payment not received by the fifteenth day of the month it is due will be subject to a late charge of $75.00. If a payment is not received by the last day of the month it is due, the Buyer and transaction shall be reported to the appropriate credit agencies. In the event of delinquency, the Buyer may divide any payment not received into not more than three equal installments to be included on the next consecutive monthly payments. Notification of the Buyer's intent to do so must be made by written letter or phone call to the phone number and address listed below within one business week of delinquency." Kyle failed to make his payment by the first of this month. Kyle's monthly payment is currently $1,200. If Kyle decides to split the missing payment into two parts and pay it over the next two months, which of the following statements is false? a. Kyle will be reported to a credit agency. b. Kyle will be charged a $75 late fee for the missing payment. c. Kyle has one business week to inform his bank of the late payment. d. Kyle's monthly payments for the next two months will remain $1,200.

d. Kyle's monthly payments for the next two months will remain $1,200.

In 1983, a cast-iron pan cost $28.35. Today, a cast-iron pan costs $52.95. If the CPI is 166, what is the percent relation of the actual price of a cast-iron pan to the expected price? a. The actual price is 11.1% lower than the expected price. b. The actual price is 20.8% lower than the expected price. c. The actual price is 31.5% higher than the expected price. d. The actual price is 12.5% higher than the expected price.

d. The actual price is 12.5% higher than the expected price.

What is meant by the "right to redress"? a. The consumer has the right to repeat any transaction. b. The consumer has the right to replacement of damaged goods. c. The consumer has the right to hear back from businesses that they contact. d. The consumer has the right to fair settlement of disputes.

d. The consumer has the right to fair settlement of disputes.

The following chart shows the number of coats sold for two years. Determine if there was a percent increase or decrease in the number of trench coats sold, and by how much. (Round your answer to the nearest tenth.) a. The percentage of trench coats sold decreased by 0.8%. b. The percentage of trench coats sold increased by 0.8%. c. The percentage of trench coats sold decreased by 23.3%. d. The percentage of trench coats sold increased by 23.3%.

d. The percentage of trench coats sold increased by 23.3%.

At his comic book store, Korey's Comics, Korey sells approximately $3,250 in comic books each month. But as a comic book dealer, Korey only pays $1,285 for these comic books. Korey's monthly operating expenses, including labor, are $875. Calculate Korey's monthly net income. a. $1,090 b. $1,965 c. $2,375 d. $2,840

a. $1,090

The CPI is currently 153. If a coffee maker costs $31.90 today, how much did one cost in 1983, to the nearest cent? a. $20.85 b. $21.20 c. $26.60 d. $48.81

a. $20.85

Sophie did an anyonymous survey and collected her friends' credit scores. The scores she found are listed in the table below. What is the mean credit score in this group? (Round to the nearest whole point, if applicable.) 682 601 744 674 701 790 676 638 773 a. 698 b. 695 c. 676 d. 701

a. 698

Which of the following is not a reason for America to keep its current system of measurement? a. It would be too expensive and time consuming to switch everything over to metric. b. Since the American system is decimal based, it is easy to convert between different units of measure. c. The American system works most easily with fractions which, some argue, are preferable on a day-to-day basis. d. The units and terms involved with the American system are smaller and easier to use than those in the metric system.

WRONG c. The American system works most easily with fractions which, some argue, are preferable on a day-to-day basis.

Why do interest rates on loans tend to be higher in a strong economy than in a weak one? a. Credit markets increase in a strong economy, and with increased demand come increased prices. b. A strong economy encourages borrowers to take out very long-term loans, which have higher interest rates. c. Credit is plentiful in a strong economy, so it is harder to build up the good credit rating necessary for a low interest rate. d. People in a strong economy have more money, so they can afford more expensive loans.

a. Credit markets increase in a strong economy, and with increased demand come increased prices.

Frank has four different credit cards, the balances and interest information of which are outlined in the table below. As Frank was developing a debt payment plan, Charles suggested that he pay off the credit cards beginning with the highest balance, working his way down. If Frank chooses to follow Charle's advice, in what order should Frank plan on paying off his credit cards? Credit Card Balance APR A $2,380 19% B $4,500 15% C $1,580 17.50% D $900 21% a. D, A, C, B b. B, A, C, D c. C, B, A, D d. A, C, D, B

a. D, A, C, B

Say that a company has treated you unfairly or dishonestly. Which of the following options could help you resolve the issue? I. Report them to the Better Business Bureau. II. Speak to their corporate consumer department. III. Seek the help of the Department of HHS. a. I and II b. II and III c. I and III d. II only

a. I and II

Of the following, which statement or statements accurately reflect a way in which credit can be safer than cash? I. If your credit card gets stolen, you can cancel it and get your money back. II. It is harder to lose a single credit card than a large number of bills. III. If a merchant does not honor the agreement, you can call the credit company and dispute the charges. a. I and III b. II only c. III only d. I, II, and III

a. I and III

Last month, Korey's Comics had a gross profit of $2,385 with a monthly revenue of $3,465. Korey expects similar sales this month, but he would like to build up his in-store browsing selection, and purchases an additional assortment of comic books that costs him $625. The new assortment of comics will not arrive until next month. How does this transaction affect Korey's gross profit for this month? a. This transaction will decrease Korey's gross monthly profit by $625. b. This transaction will increase Korey's gross monthly profit by $625. c. This transaction will decrease Korey's gross monthly profit by $1,760. d. This transaction will increase Korey's gross monthly profit by $1,760.

a. This transaction will decrease Korey's gross monthly profit by $625.

An economist tracking a country's imports and exports finds that one year, the country's imports total an equivalent of $64,821,824, and its exports total an equivalent of $54,058,726. What is this country's balance of trade for that year? a. trade deficit of $10,763,098 b. trade deficit of $118,880,550 c. trade surplus of $10,763,098 d. trade surplus of $118,880,550

a. trade deficit of $10,763,098

Miki, a resident of Kyoto, earns an annual salary of ¥6,760,950. If the Japanese government levies a 29.12% income tax on Miki's tax bracket, what is her yearly take-home pay, to the nearest whole yen? a. ¥4,792,161 b. ¥4,643,510 c. ¥4,439,195 d. ¥4,364,869

a. ¥4,792,161

Which of the following is something a lender will not consider when reviewing your loan application? a. collateral b. family size c. credit score d. debt-to-income (DTI) ratio

b. family size

Since they filed bankruptcy in the past, a couple ends up paying a 12% fixed rate for a 30 year mortgage. With a better credit rating, they could have gotten the loan at a rate of 8%. If their loan amount is $140,000, how much more per month will the couple be paying for their mortgage as a result of their bankruptcy? a. $137,532.67 b. $412.79 c. $1,440.06 d. $260.37

b. $412.79

An optical mouse originally cost $31.85. Before it was removed from the store, it underwent the following changes in price. 27% Markup 22% Markup 25% Markdown 39% Markup 16% Markdown What is the final price of the optical mouse? Round all dollar values to the nearest cent. a. $46.82 b. $43.21 c. $35.33 d. $26.75

b. $43.21

Chuck has a credit card balance of $4,750 with an APR of 17%. With his existing debt payment plan, Chuck will not be able to pay off the debt for another 20 months. To speed up the process, Chuck decides to take $2,000 from his savings and apply it to the balance. He plans to pay the remaining balance in 12 months. How much will Chuck save in finance charges (interest) by doing this? a. $259.72 b. $478.28 c. $683.85 d. $738.00

b. $478.28

Coach Yip decides to order pizza delivery for the team after a game. The pizza shop is having a promotion where any large pizza costs $12.99. There is a 7.5% sales tax and a $2.50 delivery charge for the order. If Coach Yip orders 4 large pizzas, what amount should she expect the pizza shop to tell her as her total charge? a. $58.54 b. $58.36 c. $55.86 d. $54.46

b. $58.36

Xi-ling has a net income that is 5% of her monthly salary of $2,315. Xi-ling would like to keep a net income of $50 and put any additional money towards paying down debt. How much more can Xi-ling put towards paying down debt each month? a. $55.75 b. $65.75 c. $115.75 d. $165.75

b. $65.75

Lisa is a leading player on her basketball team. She has kept track of how many points she has scored over the course of the season. Her scores may be viewed in the table below. 36 20 35 13 30 14 36 11 29 19 22 40 34 17 26 21 What is the median of Lisa's scores? Round to the nearest point, if necessary. a. 23 b. 24 c. 26 d. 30

b. 24

Lisa is currently taking physics as one of her electives in school. Her grade at the end of the year is determined by the average of four exams, each worth 100 points. On her first test she got an 84, on her second she got a 92, and on her third an 80. What must she score on her fourth exam to get exactly 80% in the course? a. 60 b. 64 c. 84 d. 85

b. 64

Brandon rolls a six sided die twenty times, and records the result in the table below. How many times did Brandon roll above the average? 6 1 3 4 4 4 6 5 5 3 6 4 4 5 2 3 5 4 4 2 a. 14 b. 7 c. 5 d. 4

b. 7

Malaya creates a password as follows: letter, number, letter, special character, number Assuming that there are 12 special characters, if you were trying to guess Malaya's password, what is the most guesses that you would have to make? a. 702,000 b. 811,200 c. 205,476,480 d. 254,803,968

b. 811,200

What is the name of the legally mandated area on every credit solicitation which provides information about the terms and conditions of the card? a. Schroeder Box b. Schumer Box c. Disclosure Box d. Disclaimer Box

b. Schumer Box

Which of the following steps is most effective in protecting yourself from identity theft? a. Throw away credit card applications in the garbage. b. Shred all mail with personal information before discarding it. c. Place your old bank statements in the recycle bin. d. Carry all your passwords in your wallet or purse.

b. Shred all mail with personal information before discarding it.

In 1983, a year-long newspaper subscription cost $12.75. Today, a year-long newspaper subscription costs $28.50. If the CPI is 193, what is the relation of the actual price of a year-long newspaper subscription to the expected price, to the nearest cent? a. The actual price is $14.79 higher than the expected price. b. The actual price is $3.89 higher than the expected price. c. The actual price is $9.20 lower than the expected price. d. The actual price is $11.86 lower than the expected price.

b. The actual price is $3.89 higher than the expected price.

Jennifer has a credit card with an APR of 10.22% and a billing cycle of 30 days. The following table shows Jennifer's credit card transactions in the month of January. Date Amount ($) Transaction 1/1 807.94 Beginning balance 1/7 41.81 Purchase 1/8 53.88 Payment 1/16 75.00 Purchase 1/20 18.65 Purchase 1/26 25.00 Payment How much greater will Jennifer's January finance charge be if the finance charge is calculated using the previous balance method than if it is calculated using the adjusted balance method? a. $0.48 b. $1.15 c. $0.67 d. $0.85

c. $0.67

Olivia enjoys watching little birds at the many feeders in her yard. She counts how many of them she can see in her yard every morning before she leaves for school. Her data for two weeks can be seen below. Day Sun Mon Tue Wed Thu Fri Sat Week 1 31 36 24 34 45 27 41 Week 2 16 34 20 18 25 38 31 What is the mean of the number of little birds that Olivia sees in her yard each morning? Round to the nearest bird, if necessary. a. 34 b. 31 c. 30 d. 26

c. 30

A rope has a density and thickness such that a 3.25-centimeter-long segment of it weighs 61.40 grams. There are 28.3495 grams in an ounce and 2.54 centimeters in an inch. How many ounces would a 19.45 inch length of the same rope weigh? a. 5.10 oz b. 11.49 oz c. 32.92 oz d. 53.90 oz

c. 32.92 oz

What is a closed line of credit? a. A line of credit with a set maximum credit limit. b. A line of credit with no interest rate. c. A line of credit with a fixed total amount. d. A line of credit with a legally mandated repayment schedule.

c. A line of credit with a fixed total amount.

Caitlin has a balance of $4,880 on her credit card that has an APR of 16%. She currently pays the minimum monthly payment of $105.86. If Caitlin wants to pay off her balance in 20 months, determine the monthly payment she would need to make. Choose the following modification with the least cuts to her current expenses that will allow Caitlin to pay off her balance in 20 months. Income Wages $2,896.00 Expenses Rent $1200.00 Utilities $212.64 Food/Clothes $335.00 Entertainment $346.00 Car $490.00 Credit Card $105.86 Cell Phone $116.37 Net Income $90.13 a. Caitlin can eliminate $100 from Food/Clothes and $85 from Entertainment. b. Caitlin can eliminate $62 from Food/Clothes and $49 from Entertainment. c. Caitlin can eliminate $54 from Food/Clothes and $120 from Entertainment. d. The minimum payment is enough to pay off the balance within 20 months.

c. Caitlin can eliminate $54 from Food/Clothes and $120 from Entertainment.

What is a consequence of following the Comparative Advantage Principle? a. Countries only make one kind of good or service. b. Wages scale to exactly match the skill of the wage-earners. c. Countries become more interdependent on one another for goods and materials. d. Goods are traded directly, rather than using monetary trade.

c. Countries become more interdependent on one another for goods and materials.

Korey is planning to open a comic book store. His store will cost $12,500 to open and will come with a $8,000 total annual operational cost. If his store makes $12,000 in profit during the first year, and profits increase by 6% each year from then, how long will it take for Korey to see an overall profit in his business (where total profits exceed total expenses)? a. Korey will see an overall profit in his first year of business. b. Korey will see an overall profit in his second year of business. c. Korey will see an overall profit in his third year of business. d. Korey will see an overall profit in his fourth year of business.

c. Korey will see an overall profit in his third year of business.

Christopher has a credit card with an APR of 13.13%. The card uses the adjusted balance method to calculate finance charges. The following table details Christopher's transactions with his credit card in the month of December. Date Amount ($) Transaction 12/1 424.86 Beginning balance 12/3 55.25 Payment 12/5 78.10 Purchase 12/14 20.00 Payment 12/16 27.97 Purchase 12/22 8.16 Purchase 12/29 46.07 Purchase If Christopher is on a 30-day billing cycle, what will his new beginning balance be after December? a. $509.91 b. $349.61 c. $353.44 d. $513.74

d. $513.74

Ethel and Jack each separately apply for and receive a loan worth $7,725 apiece. Ethel has a relatively average credit rating, so her loan has an APR of 9.14%, compounded monthly. Jack's credit rating is excellent, so his loan has an APR of 6.88%, compounded monthly. If they both pay off their respective loans by making six years of identical monthly payments, how much more will Ethel pay than Jack? (Round all dollar values to the nearest cent.) a. $1,047.51 b. $1,681.17 c. $687.48 d. $613.44

d. $613.44

Korey is planning to open a comic book store near his home. After completing a population survey for 3,520 homes in a 5 mile radius, Korey created the chart below to include in the market analysis section of his business plan. Korey expects 75% of his business to come from kids in high school and grade school. About how many of homes surveyed fit into one of these two categories? a. 493 b. 637 c. 1,126 d. 1,760

d. 1,760

Sam is planning to start a pool cleaning company from his home. He has decided on a radius of 30 miles from his home as a region of operation. After surveying the region of operation, he found that 43% of the homes in the region have a swimming pool. If there are 36,248 homes within a 30 mile radius of Sam's home, approximately how many potential customers does Sam have? a. 1,087 b. 1,559 c. 10,874 d. 15,587

d. 15,587

Isaac is baking a cake and needs to add flour weighing 5.85 oz to the mixture. If there are 28.3495 g in one ounce, how many grams of flour does he need to add? a. 4.85 g b. 20.64 g c. 158.69 g d. 165.84 g

d. 165.84 g

Gabe rolls a six sided die twenty times, and records the result in the table below. How many times did Gabe roll above the average? 3 6 2 3 4 5 1 4 2 3 2 2 2 3 1 5 6 1 3 2 a. 2 b. 3 c. 5 d. 6

d. 6

Darryl just received his credit scores from the three major credit bureaus. His Experian score is 719, his Equifax score is 741, and his TransUnion score is 780. What is his mean credit score? (Round to the nearest whole point, if applicable.) a. 719 b. 741 c. 760 d. 747

d. 747

Which economic system is friendliest to entrepreneurs? a. socialism b. communism c. capitalism d. They are all equally accepting, since entrepreneurship relies on the individual.

c. capitalism

Sofa pillows cost $26.80 each when the CPI is 159. In 1983, how many sofa pillows could you buy with $125? a. four b. six c. seven d. eight

c. seven

Any student can qualify for a subsidized Stafford loan, regardless of financial need.

F

Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months. Determine the finance charge on Rachel's loan if she takes all 36 months to pay it off. a. $48.06 b. $1,730.16 c. $4,500.00 d. $6,230.16

b. $1,730.16

Which of the following is not a fee that contributes to the initial cost of leasing a car? a. first payment b. final payment c. acquisition fee d. disposition fee

b. final payment

The following formula is used to calculate the monthly payment on a personal loan. In this formula, i represents the _____ of the loan. a. annual interest rate b. interest rate per period c. initial amount d. incident amount

b. interest rate per period

Christopher has just made the final monthly payment necessary to pay off his car financing. The car had a list price of $25,995. He made a down payment of $2,434. Additionally, there was a $1,626 vehicle registration fee and a $275 documentation fee. He also paid sales tax of 8.44% on the cost of the vehicle. He included the taxes and fees with the purchase price of the car in a four-year finance agreement with an interest rate of 11.10%, compounded monthly. After completing payment of the four-year loan, what was the total amount of money that Christopher paid for his car? Round to the nearest dollar. a. $23,310 b. $27,656 c. $34,374 d. $36,808

d. $36,808

The following table shows the first segment of a five-year amortization schedule. After one year of payments, how much has been paid to interest? a. $1,100.42 b. $1,010.16 c. $1,188.34 d. $1,241.18

a. $1,100.42

List three (3) warning signs that a person's may be reaching a critical point in the amount of debt that he or she has accumulated.

Credit cards being at their limits, using cash advances on credit cards to pay bills, and/or making late payments.

Which of the following is not a basic consumer right? The right to safety The right to be informed The right to a refund The right to a healthy environment

The right to a refund

The graph above shows one store's projected demand curve for garden gnomes. If the demand at point P1 is fully satisfied, how much money will the store make through garden gnome sales? a. $600 b. $550 c. $150 d. $55

b. $550

The following chart shows a store?s records of sales of stuffed toys for two months. Which of the following are accurate assessments of trends displayed in this graph? I. Sales of teddy bears decreased by about 2.9% between September and October. II. The change in sales of rabbits is roughly equal to the change in sales of all toys. III. Roughly 24.1% fewer horses were sold in October than in September. a. I and II b. II only c. I and III d. III only

d. III only

Contrary to common belief, the price of a single item as listed in the CPI (Consumer Price Index) does not always rise and fall in tandem with the price of the same item in the PPI (Producer Price Index). Which of the following is not a reason that makes this so? a. Imports are excluded from PPI, but included in CPI. b. Taxes paid as part of the purchase are not included as part of the PPI but are included in the CPI. c. The PPI includes the prices of goods purchased by other producers while the CPI includes only the prices of goods purchased by consumers. d. Since the PPI measures the change of the price the producer receives for their product and the CPI measure the change of the price the consumer pays for the product, one should rise while the other will fall.

d. Since the PPI measures the change of the price the producer receives for their product and the CPI measure the change of the price the consumer pays for the product, one should rise while the other will fall.

Which of the following is not something that will help you pay off credit card debt? a. Stop using your credit cards. b. Make extra payments when possible. c. Make a realistic budget to make regular payments and stick to it. d. Transfer existing credit card balances to credit cards with "low introductory rates."

d. Transfer existing credit card balances to credit cards with "low introductory rates."

When it is 4:00 a.m. in Honolulu, it is 2:00 p.m. in London. Just before Paul's flight from Honolulu to London, he called his friend Nigel, who lives in London, asking what kind of clothing to bring. Nigel explained that London was in the middle of some truly peculiar weather. The temperature was currently 30°C, and was dropping steadily at a rate of 1°C per hour. Paul's flight left Honolulu at 12:00 p.m. Thursday, Honolulu time, and got into London at 1:00 p.m. Friday, London time. What kind of clothing would have been appropriate for Paul to be wearing when he got off the plane? a. shorts and sandals, appropriate for around 90-105°F b. winter wear, appropriate for around 20-45°F c. street clothes, appropriate for around 70-85°F d. a light jacket, appropriate for around 50-65°F

d. a light jacket, appropriate for around 50-65°F

In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity theft? a. address b. date of birth c. mother's maiden name d. social security number

d. social security number

Calculate the monthly payment for a 5-year car loan of $23,570 at 10.43% interest, compounded monthly. a. $247.44 b. $337.56 c. $433.88 d. $505.79

d. $505.79

Leasing a car for a five-year period usually costs about the same as a five-year loan because __________. a. five-year leases are considered more risky and come with a higher interest rate b. the longer time period over which to pay the leasing company creates a higher monthly payment c. if you lease a car for five years, the leasing company transfers it to a sale with the same monthly payment d. even with the lower monthly payments, leasing a car for five years requires a second lease agreement, which comes with additional fees

d. even with the lower monthly payments, leasing a car for five years requires a second lease agreement, which comes with additional fees

Which answer choice does not represent an advantage to using credit cards over other forms of payment? a. payments made online with credit card b. payments made abroad with credit card c. emergency contact number for lost card d. interest due on outstanding balance

d. interest due on outstanding balance

What kind of graph is shown below? (Recorded Temperatures, April 5 (F)) a. bar graph b. histogram c. scatter plot d. line graph

d. line graph

James has a job analyzing page layouts. He often needs to measure the sizes of letters printed on a page. Which of the following units would likely make James's measurements easiest to read? a. feet b. kilometers c. inches d. millimeters

d. millimeters

Which of the following equations correctly describes how to calculate net income? a. net income = (cost of goods sold) - (net sales) - (operating expenses) b. net income = (operating expenses) - (cost of goods sold) - (net sales) c. net income = (operating expenses) + (cost of goods sold) - (net sales) d. net income = (net sales) - (cost of goods sold) - (operating expenses)

d. net income = (net sales) - (cost of goods sold) - (operating expenses)

Which two consumer rights would customers depend on when returning a damaged item for a refund? the right to be heard and the right to choose the right to choose and the right to safety the right to be heard and the right to redress the right to safety and the right to be heard

the right to be heard and the right to redress

Which basic consumer right calls for accurate information on product information and labeling requirements so the customer can make purchasing decisions? the right to safety the right to be heard the right to education the right to be informed

the right to be informed

Christopher has just returned to the United States from a trip to Singapore and Australia. He is looking over his records of the money he spent on his trip. The following list shows items and expenses Christopher paid for before and during his trip, as well as whether the purchase took place in US dollars (US$), Singapore dollars (S$), or Australian dollars (AU$). Item Cost Currency Camera 139.54 US$ Ferry ticket 525.15 AU$ Passport 33.45 US$ Guide book 62.99 S$ Hat 42.74 S$ Plane ticket 849.52 AU$ When Christopher was on his trip, the exchange rate for US dollars to Singapore dollars was 1:1.3914, and the exchange rate for Singapore dollars to Australian dollars was 1:0.7786. How much did Christopher spend in total, measured in US dollars? Round all currency values to two decimal places. a. $1,517.89 b. $1,526.19 c. $1,809.35 d. $2,776.72

a. $1,517.89

Korey is planning to open a comic book store. In his first year of operation, Korey expects to average $1,000 of profit each month. He then expects profits to increase by 6% each year for the next 4 years. How much does Korey expect to make in profits in his fifth year of operation? a. $15,149.72 b. $16,058.71 c. $31,120.46 d. $32,987.69

a. $15,149.72

Tamari has a monthly income of $4,250 and she wants to determine her monthly net income. She calculates that her fixed expenses are $1,955 and her variable expenses are 28% of her monthly income. How much is Tamari's monthly net income? a. $1,105 b. $2,295 c. $1,190 d. $3,060

a. $1,105

Jenny used her credit card to buy a refrigerator with a base cost of $824. The refrigerator consumed an average of $0.09 in electricity every day. Jenny made regular monthly payments for three and a half years, at which point the refrigerator was paid off. Over the eight years that Jenny had the refrigerator, it needed repairs three times, costing $68.75 each time. If Jenny's credit card has an APR of 10.54%, compounded monthly, and sales tax in Jenny's area is 7.13%, what was the lifetime cost of Jenny's refrigerator? Assume that Jenny made no other purchases with her credit card, and round all dollar values to the nearest cent. (Remember that leap year occurs every four years.) a. $1,528.47 b. $1,622.46 c. $1,779.63 d. $1,457.91

a. $1,528.47

Billy has a credit card with a current balance of $3,500 and a 16% APR. With his current monthly payment, he will be able to pay off this debt in 15 months. But Billy just learned that he is getting a raise at work. If he puts all of the extra income from his raise into his monthly credit card payment, how much additional monthly income would he require from his raise to pay off the credit card in 12 months? a. $58.57 b. $171.37 c. $258.99 d. $317.56

a. $58.57

Last year, Rusty's Tools experienced $67,550 in net sales, creating a gross profit of $50,338. If Rusty had a total operating expense of $35,200 last year, what was his net profit margin? a. 22.4% b. 52.1% c. 74.5% d. 79.0%

a. 22.4%

When it is 11:30 a.m. in Dublin, it is 2:30 p.m. in Moscow. How far ahead of Dublin is Moscow? a. 3 hours b. 5 hours c. 9 hours d. 15 hours

a. 3 hours

The chart below shows one store's sales of computers, listed by model. If the changes in sales between May and June continue at the same percent rate, how many Dinztop computers will be sold in July? a. 73 b. 98 c. 142 d. 184

b. 98

Which of the following expressions shows the number of 8 character passwords that can be formed using letters and digits if the password must begin with a letter? a. b. c. d.

b.

Which of the following would be a good argument to lease rather than buy? a. "I drive almost twice as much as the average driver." b. "I prefer the warranty that covers repair costs of a new car." c. "I'm going to need the car for at least ten years, if it lasts that long." d. "I am more interested in investing in a car rather than renting one for a long period of time."

b. "I prefer the warranty that covers repair costs of a new car."

Edgar has taken out a $6,250 unsubsidized Stafford loan to fund his four-year undergraduate degree. The loan has a duration of 10 years and an interest rate of 6.1%, compounded monthly. How much interest capitalization will have accrued by the time Edgar graduates? Round all dollar values to the nearest cent. a. $1,670.30 b. $1,722.22 c. $664.35 d. $1,524.96

b. $1,722.22

Put the following items in order from most expensive to least expensive. Item Base Price Change Direction Blender $29.73 9% Markdown Hat $14.16 77% Markup Ink $20.17 27% Markup Heater $28.46 22% Markdown a. blender, heater, ink, hat b. blender, ink, hat, heater c. ink, hat, blender, heater d. ink, heater, blender, hat

b. blender, ink, hat, heater

You know that the current exchange rate for US dollars (USD) to Indian rupees (INR) is 1:45.85, that the exchange rate for Indian rupees to Bangladeshi taka (BDT) is 1:1.507, and that the exchange rate for Bangladeshi taka to Myanma kyat (MMK) at a rate of 1:0.0928. Which of the following equations is set up properly to calculate the exchange rate from US dollars to Myanma kyat? a. b. c. d.

c.

Natasha had a $922.93 balance on her credit card at the beginning of September. Her credit card has an APR of 9.89%, compounded monthly, and a minimum monthly payment of 3.08% of the total balance. The following table shows Natasha's credit card purchases over the next two months. Month Cost ($) September 33.70 October 61.70 October 27.80 If Natasha makes only the minimum payments, what will her balance at the beginning of November? (Assume that the interest accrues before the monthly payment, and that the monthly payment occurs at the end of the month. Round all dollar values to the nearest cent.) a. $1,180.48 b. $1,064.55 c. $1,000.93 d. $1,123.97

c. $1,000.93

Marilyn has two credit cards, D and E. Card D has a balance of $691.64, and Card E has a balance of $1,014.22. The minimum monthly payment on Card D is 3.57% of the total balance, and the minimum monthly payment on Card E is 2.51% of the total balance. How much greater is the minimum payment on Card E than on Card D? a. $18.85 b. $8.10 c. $11.24 d. $0.77

d. $0.77

Connie has two credit cards, U and V. Card U has a balance of $414.55, and Card V has a balance of $751.81. The minimum monthly payment on Card U is 2.82% of the balance, and the minimum monthly payment on Card V is 3.09% of the total balance. How much greater is the minimum payment on Card V than on Card U? a. $8.70 b. $10.73 c. $9.51 d. $11.54

d. $11.54

Tom is exchanging money for his trip to India. The exchange rate of US dollars to Indian rupees is 1:45.897. Tom needs 11,550 rupees. The currency exchange he is using charges a 7.25% surcharge on any such transactions. How many US dollars will it cost Tom to get the rupees he wants? Round to the nearest dollar. a. $235 b. $252 c. $270 d. $271

d. $271

A store's supply/demand graph for MP3 players is shown above. If the price is at the equilibrium point, how much money will the store make by selling MP3 players? a. $1,275 b. $1,600 c. $3,150 d. $3,300

d. $3,300

As a New Year's resolution, Jimmy has agreed to pay off his 4 credit cards and completely eliminate his credit card debt within the next 12 months. Listed below are the balances and annual percentage rates for Jimmy's credit cards. In order to pay his credit card debt off in the next 12 months, what will Jimmy's total minimum credit card payment be? a. $321.83 b. $361.45 c. $374.65 d. $411.25

d. $411.25

Ira purchased a new dishwasher for $361.35. The dishwasher was on sale for 17.5% off. What was the original price of the dishwasher, to the nearest dollar? a. $379 b. $382 c. $425 d. $438

d. $438

Jeremy randomly selected a round tile and a square tile from the sets shown below. What is the probability that Jeremy selected either two blue tiles or two white tiles? a. 23/36 b. 4/9 c. 7/72 d. 1/40

d. 1/40

Ben is preparing a package to mail to his friend in Switzerland. The parcel service he is using demands that his package be no greater than 55 cm on any side. If 1 inch is equivalent to 2.54 cm, what is the size limitation in inches? a. 139.70 in b. 134.75 in c. 22.45 in d. 21.65 in

d. 21.65 in

Ron placed a grilled cheese sandwich, a sneaker, a pinecone, and a dog collar together on a scale. The sandwich weighs 0.462 lb, the sneaker weighs 290.87 g, the pinecone weighs 0.0000453 ton, and the dog collar weighs 0.246 kg. There are 2.20462 pounds in one kilogram. How many ounces do all of these objects weigh in total? a. 18.55 oz b. 19.97 oz c. 25.93 oz d. 27.78 oz

d. 27.78 oz

Mr. Jones has a monthly income of $5,600. He wants to identify his monthly variable expenses to see if they are more than 38% of his monthly income. Mr. Jones has fixed expenses totaling $2,912 and his net income is 12% of his monthly income. Determine the total of Mr. Jones's variable expenses and if they are more than 38% of his monthly income. a. Mr. Jones's variable expenses total $672 and do not exceed 38% of his monthly income. b. Mr. Jones's variable expenses total $2,688 and do exceed 38% of his monthly income. c. Mr. Jones's variable expenses total $3,584 and do exceed 38% of his monthly income. d. Mr. Jones's variable expenses total $2,016 and do not exceed 38% of his monthly income.

d. Mr. Jones's variable expenses total $2,016 and do not exceed 38% of his monthly income.

Antonio has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. Each loan had a duration of ten years and interest compounded monthly. Antonio will pay each of them back by making monthly payments, starting as he graduates. Antonio's loans are detailed in the table below. Year Loan Amount ($) Interest Rate (%) Subsidized? Junior 5,894 6.9 Y Senior 5,258 7.5 N Once all of his loans are paid off, what will Antonio's total lifetime cost be? Round all dollar values to the nearest cent. a. $16,246.80 b. $17,804.40 c. $7,593.16 d. $9,874.76

a. $16,246.80

Dennis has just made the final monthly payment necessary for paying off his car financing. When he purchased the car three years ago, it had a list price of $23,878. Dennis traded in his good-condition 2001 Honda Odyssey and financed the rest of the cost at an interest rate of 11.82%, compounded monthly. The dealer gave Dennis 85% of the trade-in value of his car, listed below. Dennis was also responsible for paying 9.05% sales tax, a $1,474 vehicle registration fee, and a $225 documentation fee. All told, how much did Dennis pay in interest? (Round all dollar values to the nearest cent, and consider the trade-in to be a reduction in the amount paid.) a. $3,919.77 b. $3,906.80 c. $4,599.44 d. $3,668.52

a. $3,919.77

Jessica took out a Stafford loan worth $7,175 at the beginning of her six-year college career. The loan has a duration of ten years and an interest rate of 6.3%, compounded monthly. How much greater will Jessica's monthly payment be if the loan is unsubsidized than if the loan is subsidized? Round all dollar values to the nearest cent. a. $36.98 b. $23.07 c. $37.67 d. $166.37

a. $36.98

Which loan or loans listed below are awarded based on the financial need of the student? I. Perkins loan II. subsidized Stafford loan III. unsubsidized Stafford loan a. I only b. I and II c. II and III d. I, II, and III

b. I and II

Mike is looking for a loan. He is willing to pay no more than an effective rate of 8.000% annually. Which, if any, of the following loans meet Mike's criteria? Loan X: 7.815% nominal rate, compounded semiannually Loan Y: 7.724% nominal rate, compounded monthly Loan Z: 7.698% nominal rate, compounded weekly a. Y only b. X and Z c. Y and Z d. None of these meet Mike's criteria.

b. X and Z

Ralph is leasing a $32,000 car for 36 months. The terms of his lease include an 8.5% interest rate (money factor of 0.00354) and a residual value of 72%. Determine Ralph's approximate monthly lease payment. a. $145.00 b. $230.40 c. $248.89 d. $443.73

d. $443.73

Sam is paying off his eight-year, $15,360 loan in semiannual installments. The loan has an interest rate of 9.58%, compounded semiannually, and a service charge of $1,294.64. Once the loan has been fully paid off, what percentage of the total finance charge will the service charge be? Round all dollar values to the nearest cent. a. 5.48% b. 8.43% c. 18.55% d. 15.65%

d. 15.65%

Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7.96% sales tax, a $2,138 vehicle registration fee, and a $262 documentation fee. Reg's financing has an interest rate of 10.27%, compounded monthly, and a duration of three years. If Reg makes a monthly payment of $773.89, which of the following was his down payment? Round all dollar values to the nearest cent. a. $2,000 b. $2,200 c. $2,500 d. $2,800

d. $2,800

Which of the following is not a fee that affects the total cost of leasing a car? a. principal charge b. total down payment c. residual value of the car d. documentation and registration fees

a. principal charge

The depreciation component of a lease payment is _____. a. to compensate the leasing company for the monetary value the car loses during your lease b. interest you pay on the money the lease company has invested in your car during your lease c. the sum of your first and final lease payments, designed to make driving the car off the lot more affordable d. an additional amount added to the value of the car to say "thank you" to the lease company for their services

a. to compensate the leasing company for the monetary value the car loses during your lease

Determine the finance charge on a $6,500 loan with an interest rate of 9.5% compounded monthly over 36 months. a. $27.65 b. $208.21 c. $995.56 d. $7,495.56

c. $995.56

Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interest rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possible, keeping the monthly payments below $250. The lender offers repayment plans in 12 month increments. How long of a loan should they request? a. 24 months b. 36 months c. 48 months d. 60 months

c. 48 months

Approximate the interest rate for a lease that comes with a money factor of 0.0027. a. 0.65% b. 1.13% c. 6.5% d. 11.25%

c. 6.5%

Ed needs to take out a loan for $7,000 to purchase a car. His bank has offered him a loan at 10.0% interest, compounded monthly, for 36 months or 10.5% interest, compounded monthly, for 24 months. Ed's goal is to save as much money as possible by the time he pays off the loan. Which of the following statements best describes what Ed should be thinking? a. Since the monthly payment for the 36 month loan is lower, this loan will save more. b. Since the monthly payment for the 24 month loan is lower, this loan will save more. c. Since the finance charge for the 36 month loan is lower, this loan will save more. d. Since the finance charge for the 24 month loan is lower, this loan will save more.

d. Since the finance charge for the 24 month loan is lower, this loan will save more.

Credit cards can only lead to debt that is difficult to eliminate and should be avoided at all costs.

F

A password is 4 characters long, consisting of 2 letters and 2 numbers. The password must begin and end with a letter. If numbers can be repeated but letters cannot, how many possibilities are there? a. 65,000 b. 60,840 c. 58,500 d. 52,650

a. 65,000

Penny bought a juice squeezer for $10. She can make a bottle of orange juice for a cost of $0.75, and she sells her orange juice for $1.85 per bottle. Which of the following graphs best illustrates Penny's situation? I. II. III. IV. a. I b. II c. III d. IV

a. I

What kind of graph is shown below? (Fruit sold first week in July (in pounds)) a. bar graph b. histogram c. line graph d. pictograph

a. bar graph

Teddy is staying in Canada. He wants to set the thermostat to around 79°F, but the thermostat is marked only in °C. Where should he set the thermostat, to the nearest tenth? a. 11.9°C b. 26.1°C c. 33.6°C d. 84.6°C

b. 26.1°C

When it is 11:00 a.m. in Riyadh, it is 4:00 p.m. in Manila. If your flight from Riyadh to Manila lasts 11 hours and 40 minutes, and you land at 2:00 a.m. on Monday (Manila time), what time was it in Riyadh when you left? a. 4:20 a.m. Sunday b. 9:20 a.m. Sunday c. 2:20 p.m. Sunday d. 11:20 p.m. Sunday

b. 9:20 a.m. Sunday

What is a credit report? a. A credit report is a number representing your creditworthiness. b. A credit report is a detailed listing of your credit history. c. A credit report is a ranking which compares your creditworthiness to others. d. A credit report is a missed payment or other factor which negatively affects your credit.

b. A credit report is a detailed listing of your credit history.

Which of the three following graphs display the same data? (cell phone sales) I. II. III. a. I and II b. I and III c. II and III d. I, II, and III

b. I and III

Rank the following factors in order from those that have the most effect on your credit score to those that have the least effect on your credit score. I. Amount of money owed II. Payment history III. Credit history length a. I, II, III b. II, I, III c. II, III, I d. III, II, I

b. II, I, III

Henry is going on a trip to Brazil. He is currently deciding which cities he will visit during his stay. The table below shows potential cities he could visit, as well as what he estimates it will cost him to visit each one. All costs are given in Brazilian reals (R$). City Cost (R$) Salvador 224 Duque de Caxias 242 Rio de Janeiro 193 Campinas 185 Porto Alegre 153 Guarulhos 120 Fortaleza 201 Henry's original plan was to visit Duque de Caxias, Campinas, Rio de Janeiro, and Guarulhos. However, he only has R$699 to spend, so he cannot afford to use his original itinerary. Which of the following changes will be the cheapest swap Henry can make and still come in under budget? a. Replace Duque de Caxias with Salvador. b. Replace Duque de Caxias with Fortaleza. c. Replace Rio de Janeiro with Porto Alegre. d. Do not visit Guarulhos.

b. Replace Duque de Caxias with Fortaleza.

Tom is in dire need of a new washing machine. He knows what model he would like to get, but doesn't have the cash to pay for it. He plans to get a line of credit (credit card) at the store when he purchases his new washer. He found four different stores that carry the same washing machine for different prices. The lines of credit they offer also come with different APRs. Tom's primary goal is to minimize his monthly payment as he pays the washing machine off over the next 18 months. From which of the four stores should Tom purchase his washing machine? a. Bob's Nuts and Bolts b. Steve's Scratch and Dent c. Wally's Washing Machines d. Al's Appliances

b. Steve's Scratch and Dent

A person who filed bankruptcy in the past is able to get a 25-year mortgage loan at a rate that is 6% higher than what they could have received if they had not filed. The interest rate this person pays on a $130,000 loan is 13%, compounded monthly. Assume this person could have received the lower interest rate on the loan and saved all of the difference on the payments for the first five years of the loan. If this person then invested this total amount in an account paying simple interest at the rate of 2%, how much money would have accumulated in interest by the time the mortgage is paid off? a. $547.37 b. $32,842.38 c. $13,196.95 d. $17,179.23

c. $13,196.95

Bianca took out a $2,600 unsubsidized Stafford loan. She will be attending school for four years, and she wishes to have the loan paid off five years before its normal ten-year duration is finished. The loan has an interest rate of 6.2%, compounded monthly. How much will she have to pay monthly to avoid interest capitalization? a. $12.40 b. $19.29 c. $13.43 d. $17.36

c. $13.43

In creating a new scale for the mercury thermometer, Anders Celsius initially set the boiling point of water at _____. a. 0° b. 32° c. 100° d. 273°

c. 100°

A retailer marks up the price of a coffee mug from $6.25 to $8.77. By what percent did the price increase? Round to two decimal places. a. 28.73% b. 39.68% c. 40.32% d. 45.97%

c. 40.32%

A 7 character computer password is made up of 4 letters followed by 3 numbers. How many different passwords are possible? a. 333,135,504 b. 358,800,000 c. 456,976,000 d. 78,364,164,096

c. 456,976,000

Tess, who lives in the United States, is on a trip to Europe. She is going first to Germany, where the currency is the euro (€), and then to Switzerland, where the currency is the Swiss franc (CHF). As she travels from Germany to Switzerland, she finds that she has the equivalent of $527 remaining in euros, which she wishes to convert to Swiss francs. If, at the time of Tess's exchanges, the exchange rate of the US dollar to the euro is 1:0.6957 and the exchange rate of the euro to the Swiss franc is 1:1.4755, how many Swiss francs does she have? Round all currencies to two decimal places. a. 366.63 francs b. 513.39 francs c. 540.96 francs d. 777.59 francs

c. 540.96 francs

The following chart shows a company's sales records of four employees over the past year. Based on this graph, which employee is likely to have the greatest sales next month? a. Ben b. Marcel c. Kim d. Rebecca

c. Kim

Bill was going to purchase a new mountain bike with his credit card, which he thought had an APR of 13%. His plan was to keep his payments around $75 per month for 24 months. He then found out that his credit card actually had an APR of 17%. Which of the following would not allow Bill to purchase a bike while keeping the same monthly payment? a. Purchase a bike that costs less. b. Wait for the bike he wants to go on sale for a cheaper price. c. Purchase the bike in a part of town with a higher sales tax rate. d. Increase the number of months he wants to use to pay off the balance.

c. Purchase the bike in a part of town with a higher sales tax rate.

Kevin works for a company which produces printers. A printer sells for $163.95 and costs $48.28 to produce. In one month, Kevin's company sold 427 printers, earning a profit of 22,599.09. How great were the company's non-production overhead expenses, to the nearest dollar? a. $13,410 b. $20,616 c. $24,809 d. $26,792

d. $26,792

Rob is going over his currency exchange receipts from his trip to Japan and South Korea. When he was in Japan, he exchanged US dollars for Japanese yen at a rate of 1:87.441, and when he was in South Korea, he exchanged Japanese yen for South Korean won at a rate of 1:12.395. To three decimal places, what was the exchange rate of US dollars to South Korean won? a. 1:0.092 b. 1:7.055 c. 1:99.836 d. 1:1,083.831

d. 1:1,083.831

A 6 character computer password is made up of 4 numbers followed by 2 letters. How many different passwords are possible? a. 810,000 b. 3,276,000 c. 6,500,000 d. 6,760,000

d. 6,760,000

John is weighing his jars of coins. His jar of pennies weighs 84.96 ounces, and his jar of nickels weighs 3.11 kilograms. There are 0.0283495 kilograms per ounce. Which jar weighs more, and how many more pounds does it weigh? a. The jar of pennies weighs 8.41 pounds more than the jar of nickels. b. The jar of pennies weighs 0.089 pounds more than the jar of nickels. c. The jar of nickels weighs 2.06 pounds more than the jar of pennies. d. The jar of nickels weighs 1.55 pounds more than the jar of pennies.

d. The jar of nickels weighs 1.55 pounds more than the jar of pennies.

It is possible, through careful consideration of economic principles and interactions, to reach a state of equilibrium in practice.

F

Sally needs to have some drywall and insulation work done in her house. She has received a quote from a professional drywall contractor to complete her repairs for $1,200. Her neighbor Steve says he can complete the same job for $800. Sally could use a credit card to pay the contractor, but Steve can only accept cash. Sally's credit card has a 14% APR for credit purchases and a 32% interest rate for cash advances. Expecting to pay $50 of the principle plus appropriate interest each month, Sally estimates that it would take her 24 months to pay off the contractor balance and 16 months to pay off the cash advance balance. In the end, would it be cheaper for Sally to hire the contractor or her neighbor to complete the repairs?

For $1,200 at 14% for 24 months, Sally would be have to pay $57.62 per month, or $1,382.88 after 24 months. Neighbor Steve: For $800 at 32% for 16 months, Sally would have to pay $62.08 per month or $993.28 after 16 months. Even with the (much) higher interest rate, Sally would pay $389.60 less if she went with Neighbor Steve. Even better is that the monthly payments would be about the same for the given timelines. Sally would still want to weight the benefits of contracted work vs. non-contracted work.

Jeff has a balance of $2,513.77 on his credit card. He would like to pay off his card over the course of a year and a half by making identical monthly payments. The APR on his card is 10.66%, compounded monthly. Assuming that Jeff makes no additional purchases with his card, how much will he have to pay every month to reach his goal? (Round all dollar values to the nearest cent.) a. $151.73 b. $162.57 c. $139.65 d. $147.64

a. $151.73

Cynthia had a credit card with a 17% APR and a $3,265 balance. She had budgeted to have the credit card paid off in 24 months. But after missing a single monthly payment, Cynthia's credit card company has increased her interest rate to 21%. How much extra will Cynthia have to pay in finance charges (interest) because of the increase in her APR if she still pays off the credit card in 24 months? a. $152.16 b. $272.08 c. $609.32 d. $761.48

a. $152.16

A person who files bankruptcy ends up paying a 5% higher fixed interest rate on a 25-year home loan than a person who has not filed bankruptcy. The person that does not file bankruptcy pays a 7.5% interest rate. If the loan amount is $160,000, how much more does the person who filed bankruptcy pay in total interest on the home loan than the person who has not filed bankruptcy? a. $168,654.22 b. $562.18 c. $157,073.04 d. $110,878.95

a. $168,654.22

A software store has put some of its inventory on sale. Games are marked down by 15%, and security programs are marked down by 18%. If you pay $35.70 each for two games and $22.96 for a security program, how much have you saved? a. $17.64 b. $14.84 c. $12.24 d. $11.34

a. $17.64

Below is last month's business income statement for Korey's Comics. Using the information provided in the statement, determine net income for Korey's Comics last month. Korey?s Comics Monthly Business Income Statement Revenue Sales: $6,825 Returns: $215 Net Sales: Cost of Goods Sold Beginning Inventory: $780 Purchases: $1,795 Goods Available for Sale: Ending Inventory: $795 Total Cost of Goods Sold: Gross Profit:: Operating Expenses Wages: $1,460 Rent: $650 Utilities: $185 Advertising: $90 Taxes: $125 Total Operating Expenses: Net Income: a. $2,320 b. $2,510 c. $4,830 d. $6,610

a. $2,320

The following section is a statement from the rental agreement Tim signed when he rented his car this past weekend. "Upon checkout, the fuel level of the vehicle will be determined by turning the vehicle on and visually inspecting the fuel gauge. The approximate fuel level will be recorded on the Check-Out sheet and verified with initials by the vehicle Renter. One copy of the Check-Out sheet will be given to the customer. Another copy will be kept with the on-site records of the vehicle. "The rented vehicle must be returned with a minimum fuel level the same as that indicated on the Check-Out sheet. A vehicle returned with a fuel level less than the approximate level indicated on the Check-Out sheet will be completely refueled with on-site pumps. The price of the fuel used to refuel the vehicle will be added to the Renter's total charge at a cost of $4.50 per gallon plus a $5.00 refueling charge." Tim forgot to refuel the vehicle when he returned it. His Check-Out sheet indicates that the vehicle had about 1/2 of a tank left. The tanks is now nearly empty. If it takes 11.75 gallons of gas to refuel the car Tim rented, how much extra should he expect to pay because he forgot to get gas? a. $26.44 b. $31.44 c. $52.88 d. $57.88

a. $26.44

Robby is considering taking out a cash advance on his credit card to purchase a new television. His credit card offers cash advances up to $500.00 at an interest rate of 28%. If the television costs $350.00 and Robby plans to pay the balance of in 6 months, how much extra will he pay in interest to purchase the television? a. $29.14 b. $63.18 c. $174.48 d. $379.08

a. $29.14

When the CPI is 185, an electric razor cost $57.81. What is the difference between the price of an electric razor in 1983 and the cost of an electric razor when the CPI is 207, to the nearest cent? a. $33.44 b. $31.25 c. $26.56 d. $6.88

a. $33.44

The Smiths were just approved for a 25 year mortgage at an 11% fixed rate. If they had not filed bankruptcy in the past, they could have gotten a rate of 7%. If their loan amount is $128,000, how much more per month will the Smiths be paying for their mortgage as a result of their bankruptcy? a. $349.86 b. $125,840.78 c. $904.68 d. $235.09

a. $349.86

A mattress underwent the following changes in price before being removed from the store. 20% Markdown 35% Markup 24% Markdown 13% Markup 31% Markdown If the final price of the mattress was $227.83, what was the original price of the mattress, to the nearest dollar? Round all dollar values to the nearest cent. a. $356 b. $312 c. $251 d. $146

a. $356

A person who filed bankruptcy in the past is able to get a 30-year mortgage loan at a rate that is 6% higher than what they could have received if they had not filed. The interest rate this person pays on a $150,000 loan is 11%, compounded monthly. Assume the person could have received the lower interest rate on the loan and saved all of the difference in the payments for the first 10 years of the loan. If this person invested this total amount in an account paying simple interest at the rate of 2.5%, how much money would have accumulated in interest by the time the mortgage is paid off? a. $37,395.18 b. $74,790.37 c. $623.25 d. $3,739.52

a. $37,395.18

Below is last month's business income statement for Korey's Comics. Using the information provided in the statement, determine both the gross profit and net income for Korey's Comics last month. Korey?s Comics Monthly Business Income Statement Revenue Sales: $5,670 Returns: $185 Net Sales: Cost of Goods Sold Beginning Inventory: $625 Purchases: $1,460 Goods Available for Sale: Ending Inventory: $665 Total Cost of Goods Sold: GROSS PROFIT: Operating Expenses Wages: $1,230 Rent: $650 Utilities: $185 Advertising: $90 Taxes: $125 Total Operating Expenses: NET INCOME: a. $4,065; $1,785 b. $5,485; $1,785 c. $4,065; $2,280 d. $5,485; $2,280

a. $4,065; $1,785

Looking for some furniture for her new apartment, Susan visits the local swap meet in search of something cheap. Knowing that most swap meet vendors will not accept credit cards and that she will not have any money until her next payday, Susan decides to take out a $200 cash advance on her credit card at an interest rate of 32%. If Susan had no previous balance on her credit card, and she manages to pay off the balance within 1 month, how much will she have to pay in interest? a. $5.33 b. $32.00 c. $173.33 d. $205.33

a. $5.33

Suppose that the countries of Brazil, Argentina, Ecuador, and Venezuela have interdependent economies. The following table shows the imports and exports between each of these countries. All prices are given in millions of equivalent US dollars. Country of Origin Exporting to Amount ($ 1,000,000) Brazil Argentina 4,691 Brazil Ecuador 4,791 Brazil Venezuela 1,526 Argentina Brazil 1,881 Argentina Ecuador 1,971 Argentina Venezuela 2,153 Ecuador Brazil 3,106 Ecuador Argentina 3,672 Ecuador Venezuela 2,018 Venezuela Brazil 4,535 Venezuela Argentina 1,577 Venezuela Ecuador 1,871 If these four countries trade only within this group, what is the difference between the highest balance of trade and the lowest balance of trade? a. $6,221,000,000 b. $5,003,000,000 c. $3,772,000,000 d. $2,123,000,000

a. $6,221,000,000

Abby has a credit card which uses the adjusted balance method to compute finance charges. Her card has an APR of 11.83%, and she is on a 30-day billing cycle. The table below shows her transactions in the month of January. Date Amount ($) Transaction 1/1 722.10 Beginning balance 1/6 18.12 Purchase 1/7 65.00 Payment 1/14 18.00 Purchase 1/20 44.79 Purchase 1/23 34.25 Purchase 1/27 40.00 Payment What will Abby's January finance charge be? a. $6.08 b. $7.12 c. $7.22 d. $8.25

a. $6.08

Miles and Nick each separately apply for and receive loans worth $5,000 apiece. Miles has a very good credit score, so his loan has an APR of 7.75%, compounded monthly. Nick's credit score is rather low, so his loan has an APR of 13.10% interest, compounded monthly. If both of them repay their loans over a four year period, making equal monthly payments based on their own loan, how much more will Nick have paid than Miles? (Round all dollar values to the nearest cent.) a. $619.68 b. $267.50 c. $1,609.57 d. $1,070.00

a. $619.68

Gary has a credit card with an APR of 13.57%, compounded monthly. He would like to pay off the $1,847.42 card balance over the course of two and a half years by making identical monthly payments. Assuming that he makes no additional purchases on his card, how much must Gary pay every month to reach his goal? (Round all dollar values to the nearest cent.) a. $72.96 b. $137.45 c. $61.58 d. $86.29

a. $72.96

Fran is going to transfer her credit card balance over to a new card. She has an existing balance of $752.69. Her current card charges her a transfer fee of 12.5%, added to her balance, for transferring her debt. The new card has an opening fee of $50, which is also added to her balance. She will also have to make an immediate minimum payment, which is 3.35% of her total balance. How much will her balance be after she makes this payment, assuming that she pays the minimum amount? Round all dollar values to the nearest cent. a. $866.74 b. $868.40 c. $818.41 d. $926.82

a. $866.74

Faye, George, and Hannah are salespeople working at Lasht Cellular. It costs Lasht Cellular $21.49 per phone to stock a certain brand of phone, which they sell for $68.75. The three salespeople earn differing amounts of commission per phone sold, based on their seniority. The following table shows their respective sales in the past month. Salesperson Phones Sold Commission/Phone Faye 214 $10.25 George 176 $8.90 Hannah 251 $9.65 If Lasht Cellular had fixed overhead costs of $14,350 last month, how much profit did it gain last month? a. $9,761.61 b. $15,943.66 c. $22,125.71 d. $23,536.70

a. $9,761.61

The graph above shows one store's projected demand curve for hand-held vacuum cleaners. If the demand at point P3 is fully satisfied, how much money will the store make by selling hand-held vacuum cleaners? a. $900 b. $600 c. $400 d. $270

a. $900

Place the following temperatures in order from coldest to hottest: -8°C, 10°C, -5°F, 40°F a. -5°F, -8°C, 40°F, 10°C b. -5°F, -8°C, 10°C, 40°F c. -8°C, -5°F, 10°C, 40°F d. -8°C, -5°F, 40°F, 10°C

a. -5°F, -8°C, 40°F, 10°C

A furniture manufacturer must pay $16.91 to make a certain kind of chair, which it can sell for $55.75. If the manufacturer has starting overhead costs of $18,340, not including production costs, how many chairs must it sell to realize a profit of $24,850, to the nearest chair? a. 1,112 b. 918 c. 775 d. 640

a. 1,112

Jeff likes to grow zucchini. He has made a graph of the total number of zucchini his garden has produced this season, which can be seen below. How many zucchini did Jeff's garden produce between June 9 and June 15? a. 10 b. 20 c. 24 d. 36

a. 10

The following table shows some time zone pairings for specific cities. Read the table by row; for example, the first row on the table would read "When it is 10:00 a.m. in Juneau, it is 8:00 p.m. in Oslo." When it is... in... it is... in... 10:00 a.m. Juneau 8:00 p.m. Oslo 5:00 p.m. Oslo 11:00 a.m. Santiago 3:00 a.m. Santiago 3:00 p.m. Kuala Lumpur 2:00 a.m. Kuala Lumpur 10:00 p.m. Dubai What is the time difference between Juneau and Dubai? a. 12 hours b. 9 hours c. 4 hours d. 1 hour

a. 12 hours

Rhianna is in charge of a facility which produces and sells roast coffee. Her expense sheet can be seen below. Item Cost Rent $23,280/mo. Salaries $45,860/wk. Raw coffee $0.51/lb. Insurance $19,750/mo. Advertising $22,110/mo. Coffee roasting $0.32/lb Rhianna's coffee sells for $2.89 per pound. How much coffee must her facility sell each month to break even, to the nearest hundred pounds? a. 120,700 pounds b. 104,400 pounds c. 96,700 pounds d. 53,900 pounds

a. 120,700 pounds

A password is 4 characters long and must consist of 3 letters and 1 of 10 special characters. If letters can be repeated and the special character is at the end of the password, how many possibilities are there? a. 175,760 b. 456,976 c. 703,040 d. 1,679,616

a. 175,760

A password is 4 characters long and must consist of 3 letters and one number. If letters cannot be repeated and the password must end with a number, how many possibilities are there? a. 175,760 b. 158,184 c. 156,000 d. 140,400

a. 175,760

Sam is planning to start a pool cleaning business from his home. He has developed the following cost analysis for the set-up and operation for the first year of his business. He has $9,000 in savings and $23,000 in credit that he can use for the business. Approximately what percent of the initial set-up and operation costs will Sam need to finance with a lender or investor? Item Cost Truck $9,000 Pool Cleaning Supplies $6,000 Payroll $23,000 Advertising $1,500 a. 19% b. 23% c. 33% d. 78%

a. 19%

If you can exchange 104.51 US dollars for 1,322.14 Mexican pesos, what is the exchange rate of the US dollar to the Mexican peso, to three decimal places? a. 1:12.650 b. 1:1.427 c. 1:0.079 d. 1:0.008

a. 1:12.650

Michelle has four credit cards with the balances and interest rates listed below. She wants to pay off her credit cards one at a time, based on the interest rate. In which order should Michelle pay off her credit cards? Credit Card Balance APR #1 $4,380 17% #2 $1,365 19% #3 $2,480 23% #4 $5,000 15% a. 3,2,1,4 b. 1,2,3,4 c. 2,4,3,1 d. 4,1,3,2

a. 3,2,1,4

Charles is planning a trip to Guatemala. He has allocated $415 for spending money. If the exchange rate from US dollars to Guatemalan quetzals is 1:8.5135, how much money does Charles have, as measured in quetzals? Round your answer to two decimal places. a. 3,533.10 quetzals b. 2,131.02 quetzals c. 768.31 quetzals d. 48.75 quetzals

a. 3,533.10 quetzals

Sharon is preparing for a trip to Kuwait. She calculates that she will need $1,166 to be converted to Kuwaiti dinar. If the exchange rate of US dollars to Kuwaiti dinar is 1:0.2879, how many dinar does Sharon have? Round your answer to two decimal places. a. 335.69 dinar b. 405.00 dinar c. 3,356.91 dinar d. 4,050.02 dinar

a. 335.69 dinar

Korey is planning to open a comic book store. He has developed the following expense breakdown for set-up and operation for the first year. Korey has $8,500 in savings and $25,000 in inheritance money to use to open his store. If Korey doesn't make any changes to his initial expenses, what percent of the total set-up and operation expense will have to be funded through loans or investors? Expense Amount Rent $10,800 Insurance $3,000 Store Fixtures $2,700 Computer and Cash Register $1,200 Inventory $17,400 a. 4.6% b. 9.5% c. 45.6% d. 95.4%

a. 4.6%

Ned is looking over his credit scores. His Experian score is 690, his Equifax score is 691, and his TransUnion score is 651. What is his mean credit score? (Round to the nearest whole point, if applicable.) a. 677 b. 671 c. 665 d. 690

a. 677

Harriet used her credit card to buy a $779 laptop, which she paid off by making identical monthly payments for two and a half years. Over the six years that she kept the laptop, it cost her an average of $0.36 of electricity per day. Harriet's credit card has an APR of 11.27%, compounded monthly, and she made no other purchases with her credit card until she had paid off the laptop. What percentage of the lifetime cost of the laptop was interest? (Assume that there were two leap years over the period that Harriet kept the laptop, and round all dollar values to the nearest cent.) a. 7.03% b. 13.21% c. 11.27% d. 6.97%

a. 7.03%

Jennifer has built a shelf which can safely support 16.40 pounds. If there are 2.20462 pounds in a kilogram, how many kilograms can Jennifer's shelf support? a. 7.44 kg b. 13.44 kg c. 32.42 kg d. 36.16 kg

a. 7.44 kg

Abger Electronics, a retail store, restructures its employees' schedules every six months. The employees are asked for their shift preferences, and the schedules are rearranged according to these preferences. When there is a conflict, those with the best total sales over the past six months are given priority. The following graph and table show the most recent sales records and employee preferences, respectively. Employee 1st Pick 2nd Pick 3rd Pick 4th Pick Rachel 12 p.m. 3 p.m. 9 a.m. 6 p.m. Gary 9 a.m. 6 p.m. 12 p.m. 3 p.m. Hannah 12 p.m. 6 p.m. 3 p.m. 9 a.m. Christopher 9 a.m. 12 p.m. 3 p.m. 6 p.m. Based on this information, when will each employee's shift begin? a. 9 a.m. - Gary; 12 p.m. - Rachel; 3 p.m. - Christopher; 6 p.m. - Hannah b. 9 a.m. - Christopher; 12 p.m. - Rachel; 3 p.m. - Hannah; 6 p.m. - Gary c. 9 a.m. - Christopher; 12 p.m. - Hannah; 3 p.m. - Rachel; 6 p.m. - Gary d. 9 a.m. - Gary; 12 p.m. - Rachel; 3 p.m. - Hannah; 6 p.m. - Christopher

a. 9 a.m. - Gary; 12 p.m. - Rachel; 3 p.m. - Christopher; 6 p.m. - Hannah

Rex is currently taking physics as one of his electives in school. His grade at the end of the year is determined by the average of four exams, each worth 100 points. On his first test he got an 84, on his second he got a 86, and on his third an 92. What must he score on his fourth exam to get an A (90%) in the course? a. 98 b. 90 c. 88 d. 86

a. 98

What is the difference between a line graph and a scatter plot? a. A line graph presents continuous and linked data, while a scatter plot presents unlinked data. b. A line graph is a smooth curve, while a scatter plot can have jumps or gaps. c. A line graph shows data from one source, while a scatter plot shows data from many sources. d. A line graph uses both the x- and y-axes, while a scatter plot only uses the y-axis.

a. A line graph presents continuous and linked data, while a scatter plot presents unlinked data.

What is an unsecured line of credit? a. A line of credit which does not require collateral. b. A line of credit with a variable interest rate. c. A line of credit offered by an institution other than a bank, such as a department store. d. A line of credit offered to an individual with no credit history.

a. A line of credit which does not require collateral.

Because of his business's recent success, Sam has decided to expand his Sam's Swimming Pool Cleaning to include another branch. This will add expenses for another office and payroll for five more employees, but Sam's customer base will stay the same, at least for a while. Until Sam's new branch starts bringing in new customers, how will this change affect Sam's gross profit margin? a. An added expense of a new branch has nothing to do with Sam's gross profit margin. b. Since the new branch is adding expenses, Sam's gross profit margin will go down. c. Since the new branch is adding expenses, Sam's gross profit margin will go up. d. Since the expense the new branch is adding is negligible, Sam should see no change in his gross profit margin.

a. An added expense of a new branch has nothing to do with Sam's gross profit margin.

Which of the following is not a true statement about filing bankruptcy? a. Bankruptcy erases all of your debt. b. It is possible to rebuild your credit after filing bankruptcy. c. There are exemptions that allow you to keep essentials. d. Bankruptcy stops aggressive action by creditors.

a. Bankruptcy erases all of your debt.

You are considering buying one of two brands of barbecue grills. Brand F costs $650 and will last for about fifteen years. Brand G costs $200 and will last for about five years, so you will need to buy three of them over the years to equal one Brand F grill. In either case, you plan to pay for the grill with your credit card, which has an interest rate of 13.01%, compounded monthly. You will pay off a Brand F grill in five years of monthly payments, and you will pay off a Brand G grill in three years of monthly payments. Assuming that you have no other purchases on your credit card, over a fifteen-year period, which kind of grill will be cheaper, and how much cheaper will it be? (Round all dollar values to the nearest cent.) a. Brand G will end up costing $159.48 less than Brand F. b. Brand G will end up costing $50.00 less than Brand F. c. Brand F will end up costing $134.28 less than Brand G. d. Brand F will end up costing $91.08 less than Brand G.

a. Brand G will end up costing $159.48 less than Brand F.

Robert is looking to buy a deep fryer. He has narrowed his search down to two models. The following table gives the details of the prices, cost per use in electricity and oil, and lifespan of the two models Robert is considering to purchase. Brand Brand P Brand Q Price $144.00 $37.50 Avg. Cost/Use $0.49 $0.75 Lifespan 6 years 2 years Robert plans on using his deep fryer about eight times per month. After six years, which brand will have the lower lifetime cost, and by how much? Hint: Assume that either deep fryer can be repurchased at the same price, if needed to provide the desired length of service. a. Brand P will be $118.26 cheaper than Brand Q. b. Brand P will be $149.76 cheaper than Brand Q. c. Brand Q will be $184.50 cheaper than Brand P. d. Brand Q will be $31.50 cheaper than Brand P.

a. Brand P will be $118.26 cheaper than Brand Q.

Use the following compound interest formula to complete the problem. Currently you have two credit cards, H and I. Card H has a balance of $1,186.44 and an interest rate of 14.74%, compounded annually. Card I has a balance of $1,522.16 and an interest rate of 12.05%, compounded monthly. Assuming that you make no purchases and no payments with either card, after three years, which card's balance will have increased by more, and how much greater will that increase be? a. Card I's balance increased by $53.16 more than Card H's balance. b. Card I's balance increased by $13.45 more than Card H's balance. c. Card H's balance increased by $35.61 more than Card I's balance. d. Card H's balance increased by $49.06 more than Card I's balance.

a. Card I's balance increased by $53.16 more than Card H's balance.

Consider the following graph, which shows a bookstore's sales over the course of one day. By percent, how much smaller does the sale of horror books appear to be than the sale of fantasy books? How much smaller is it in reality? a. Horror sales appear to be only 50% of fantasy sales, but they are actually only about 8% smaller. b. Horror sales appear to be only 80% of fantasy sales, but they are actually only about 4% smaller. c. Horror sales appear to be only 67% of fantasy sales, but they are actually only about 15% smaller. d. Horror sales appear to be only 20% of fantasy sales, but they are actually only about 13% smaller.

a. Horror sales appear to be only 50% of fantasy sales, but they are actually only about 8% smaller.

Natasha is a regional manager for a chain of supermarkets. She has been tasked with researching the weekly sales records of two branch locations over the past month, which she must present to her board of directors. She was able to assemble the relevant information in the table below, but it is scrambled and hard to read. Sales are listed in thousands of dollars. Week 4 1 1 3 4 2 3 2 Sales 16.3 17.8 23.1 15.2 20.2 23.4 22.9 17.6 Branch North South North South South North North South In order to make the data more readable, Natasha has decided to put it into a graph. Which of the following graphs accurately matches the information in the table? I. II. III. IV. a. I b. II c. III d. IV

a. I

Consider this chart, which details a store's sales revenue by department. Which of the following statements indicate ways in which this graph is misleading? I. The sections are not numerically labeled. II. The time frame is not mentioned. III. It is unclear which color corresponds to which section. a. I and II b. II only c. I and III d. I, II, and III

a. I and II

Of the following statements, which one or ones describe actions harmful to your credit score? I. Owing a lot of money II. Having many lines of credit III. Making steady payments a. I and II b. II only c. I and III d. I only

a. I and II

Which of the following are reasons why governments might use tariffs? I. Tariffs raise government revenue. II. Tariffs can protect domestic trade by making foreign trade more expensive. III. Tariffs reduce the amount of money flowing in to a country, which reduces inflation. a. I and II b. II only c. II and III d. III only

a. I and II

The following graph shows the relationship between cost and revenue for a manufacturer of radios. Which of the following pairs of equations best suits this graph? Cost I Cost II Revenue III Revenue IV a. I and III b. I and IV c. II and III d. II and IV

a. I and III

Consider the following graph, which details a retailer's profits over the course of several years. Of the following, which option or options would help make this graph less misleading? I. The y-axis should be labeled. II. The scale on the y-axis should be resized. III. The scale on the x-axis should be resized. a. I only b. I and II c. II only d. I, II, and III

a. I only

Which of the following is not something that should be considered when creating a debt payment plan? a. In general, the larger the debt, the longer you should plan to take to pay it off. b. Higher interest rates create more cost than lower interest rates on a similar debt. c. Making a payment larger than required or expected will help pay off the debt sooner. d. The longer you take to pay off your debt, the more you will be paying in interest and other fees.

a. In general, the larger the debt, the longer you should plan to take to pay it off.

Bill owns a company (Bill's Gates) that manufactures fence panels. Bill's Gates had a gross profit margin last quarter of 33%. Which of the following actions would allow Bill to increase his gross profit margin this quarter, assuming he sells the same number of fence panels? a. Increase the price per panel. b. Decrease the price per panel. c. Spend more on labor and production. d. Spend less on labor and production.

a. Increase the price per panel.

Say that you leave Montevideo at 6:20 p.m. on Sunday to fly to Jerusalem. When you arrive in Jerusalem, the local time is 10:00 a.m. on Monday. If the flight took 10 hours and 40 minutes, what is the time difference between Jerusalem and Montevideo, from the perspective of Jerusalem? a. Jerusalem is five hours ahead of Montevideo. b. Jerusalem is seven hours ahead of Montevideo. c. Jerusalem is seventeen hours behind Montevideo. d. Jerusalem is nineteen hours behind Montevideo.

a. Jerusalem is five hours ahead of Montevideo.

Which would NOT be included on an income statement for the Best Brand Company? a. Projected Profit b. Net Sales c. Cost of Goods d. Operating Expenses

a. Projected Profit

The following table shows the working populations, average salaries, and income tax rates of France and Germany. Country Workforce Average Salary (€) Income Tax Rate France 31,491,232 29,766 69.3% Germany 38,844,017 32,104 45.2% Based on the information in the table, how do the annual tax revenues of Germany and France compare to one another? a. The French government gathers €85,930,190,677 more than the German government. b. The French government gathers €543,141,128,984 more than the German government. c. The German government gathers €309,680,310,056 more than the French government. d. The German government gathers €223,750,119,378 more than the French government.

a. The French government gathers €85,930,190,677 more than the German government.

Use the following table to help answer the question below. State Single-Earner 2-Person 3-Person 4-Person Florida $41,226 $52,259 $58,574 $69,009 Georgia $40,691 $55,258 $61,104 $68,502 Missouri $39,645 $51,568 $60,371 $71,059 Texas $38,940 $55,859 $59,222 $66,381 Virginia $48,362 $65,122 $74,151 $85,939 A family of three living in Georgia is thinking about filing bankruptcy. In order to file for Chapter 7 bankruptcy, what must be true about their monthly income? a. The family's monthly income must be less than $5,092. b. The family's monthly income must be more than $5,092. c. The family's monthly income must be less than $4,605. d. The family's monthly income must be more than $4,605.

a. The family's monthly income must be less than $5,092.

Felicia paid $2,879 for a new wall oven with her credit card. Felicia's credit card has an APR of 13.89%, compounded monthly. It took Felicia seven years of identical monthly payments to pay for her oven, and she made no other purchases with her card until it was paid off. Over the ten years that she kept the oven, it used an average of $2.97 per week in electricity. Between the electricity and the interest, which component of the lifetime cost of the oven was greater, and how much greater was it? (Round all dollar values to the nearest cent.) a. The interest cost $94.12 more than the electricity. b. The interest cost $1,638.52 more than the electricity. c. The electricity cost $1,334.60 more than the interest. d. The electricity cost $463.32 more than the interest.

a. The interest cost $94.12 more than the electricity.

You take a train away from Bangkok at 1:50 a.m. on Wednesday. You ride the train for 16 hours and 40 minutes, at which point you arrive in Vladivostok at 9:30 p.m. on Wednesday, local time. How does Vladivostok's time zone relate to Bangkok's time zone? a. Vladivostok is three hours ahead of Bangkok. b. Vladivostok is nine hours behind Bangkok. c. Vladivostok is fifteen hours behind Bangkok. d. Vladivostok is twenty-one hours ahead of Bangkok.

a. Vladivostok is three hours ahead of Bangkok.

Dennis has a credit card with an APR of 10.14% and a billing cycle of 30 days. The following table shows his transactions with that credit card in the month of November. Date Amount ($) Transaction 11/1 517.87 Beginning balance 11/9 31.63 Purchase 11/23 64.10 Purchase 11/26 65.75 Payment If the finance charge for November is $3.82, which method of calculating the finance charge does Dennis's credit card company use? a. adjusted balance method b. previous balance method c. daily balance method d. there is not enough information to determine which method was used

a. adjusted balance method

Greg purchased supplies for a party. He had a coupon good for 30% off. He purchased a helium tank rental with an original price of $31.61, a sheet cake with an original price of $18.44, a punch bowl with an original price of $12.78, and paper decorations with an original price of $23.69. Greg's total came to $80.99. To which item did Greg apply his coupon? a. cake b. helium tank rental c. paper decorations d. punch bowl

a. cake

Which of the following types of credits would best describes home equity loans? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured

a. closed and secured

In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity theft? a. credit card number b. date of birth c. phone number d. place of birth

a. credit card number

Roger has a credit card with an APR of 19.40% and a billing cycle of 30 days. The following table shows his transactions with that credit card in the month of June. Date Amount ($) Transaction 6/1 265.40 Beginning balance 6/6 90.00 Payment 6/16 43.33 Purchase 6/22 37.71 Purchase If Roger's finance charge for June is $3.56, which method of calculating the finance charge does Roger's credit card company use? a. daily balance method b. adjusted balance method c. previous balance method d. there is not enough information to determine which method was used

a. daily balance method

Which of the following functions is most closely connected with the CPSC? a. ensuring product safety and setting safety standards b. seeking to curb and prevent disease c. working to reduce fraudulent business practices d. keeping records of corporate histories and market performance

a. ensuring product safety and setting safety standards

Which of the following items would you most likely be able to keep in Chapter 7 bankruptcy? a. equity in your home b. a fur coat worth $2,000 c. a sports car with $6,000 equity d. tools for your woodworking hobby

a. equity in your home

Which of the following equations correctly describes how to calculate gross profit? a. gross profit = (net sales) - (cost of goods sold) b. gross profit = (cost of goods sold) - (net sales) c. gross profit = (net income) - (operating expenses) d. gross profit = (operating expenses) - (net income)

a. gross profit = (net sales) - (cost of goods sold)

Which of the following, while appearing negative, might actually be considered an advantage of filing bankruptcy? a. inability to get new credit cards b. inability to discharge all debt c. inability to get a car loan d. inability to stop collections by creditors

a. inability to get new credit cards

Korey is planning to open a comic book store. Although there are two other comic book stores within 20 miles, he believes he will be able to outperform them with a greater selection of merchandise, gaming competitions, and artist and author signings. In Korey's business plan, this information should be included in the _____ component. a. market analysis b. organizational plan c. executive summary d. implementation plan

a. market analysis

Which measure of central tendency would be best to describe the following set of data? 2 5 4 1 3 52,251 6 a. median b. mode c. mean d. all of the above

a. median

Suppose that the countries of Finland, Hungary, Poland, and Belgium are economically interdependent. The following table shows exports and imports between these countries, with all monetary values given in millions of euros. Country of Origin Exporting to... Amount (€ 1,000,000) Finland Hungary 2,298 Finland Poland 2,499 Finland Belgium 3,913 Hungary Finland 2,614 Hungary Poland 3,970 Hungary Belgium 2,380 Poland Finland 3,496 Poland Hungary 4,973 Poland Belgium 2,971 Belgium Finland 3,023 Belgium Hungary 3,828 Belgium Poland 4,656 If these four countries trade only with each other, what is the difference between the highest balance of trade and the lowest balance of trade within this group? a. €4,378,000,000 b. €2,797,000,000 c. €1,928,000,000 d. €738,000,000

a. €4,378,000,000

Jessica's credit card is on a 30-day billing cycle, and it computes finance charges using the adjusted balance method. The following table details Jessica's use of her credit card in the month of October. Date Amount ($) Transaction 10/1 1,240.55 Beginning balance 10/2 36.43 Purchase 10/10 75.00 Payment 10/13 131.79 Payment 10/20 41.52 Purchase 10/22 25.00 Purchase What is Jessica's adjusted balance for October? a. $1,136.71 b. $1,033.76 c. $1,140.55 d. $1,240.55

b. $1,033.76

At his comic book store, Korey's Comics, Korey sells approximately $3,250 in comic books each month. But as a comic book dealer, Korey only pays $1,285 for these comic books. Korey's monthly operating expenses, including labor, are $875. Calculate Korey's monthly gross profit. a. $1,090 b. $1,965 c. $2,375 d. $2,840

b. $1,965

Antonio's credit card has an APR of 16.65%, and it calculates his finance charge by using the daily balance method and a 30-day billing cycle. On June 1st, Antonio had a balance of $811.67. During the month of June, he made a payment of $110.16 and a purchase of $84.04. How much greater will his June finance charge be if the purchase occurred on June 5th and the payment occurred on June 23rd than it would be if the payment occurred on June 5th and the purchase occurred on June 23rd? a. $0.44 b. $1.59 c. $4.96 d. $0.36

b. $1.59

Sam is getting ready for a big date when he realizes that he has no money. His roommate, Bill, also has no money, but he has a credit card. Knowing that nobody will let Sam use Bill's credit card, Sam asks Bill to pull out a cash advance for $120.00. Bill agrees under the condition that Sam is responsible for all interest that accrues on the cash advance which is a 30% interest rate, compounded monthly. The $120 cash advance is repaid in monthly installments over 5 years. How much should Bill ask Sam to pay in interest for the cash advance? a. $3.88 b. $112.80 c. $120.00 d. $232.80

b. $112.80

Kimberly has a credit card with a 19% APR and a balance of $4,350. With her current monthly payment, Kimberly will be able to pay off the credit card in a mere 16 months. But when Kimberly's car breaks down, she is forced to charge an additional $1,600 to her credit card. How much will Kimberly's minimum monthly payment increase if she still wants to pay off her credit card in 16 months? a. $100.00 b. $113.99 c. $309.90 d. $423.89

b. $113.99

Marcia has two credit cards and would like to consolidate the two balances into one balance on the card with the lower interest rate. The table below shows the information about the two credit cards Marcia currently uses. Card A Card B Amount $1,389.47 $1,065.32 APR 16% 12% Monthly Payment $39.38 $28.05 After 4 years, approximately how much will Marcia have saved in interest by consolidating the two balances? a. $1,890.24 b. $133.92 c. $543.84 d. $1,346.40

b. $133.92

Suppose that Lebanon has placed tariffs on its imports and exports. The import tariff is 13%, and the export tariff is 8%. If Lebanon has a balance of trade of (equivalent US dollars) $5,510,000 and received tariff revenue of $4,019,200, what are its imports and exports worth? a. $30,916,923 in imports, $50,240,000 in exports b. $17,040,000 in imports, $22,550,000 in exports c. $6,226,300 in imports, $5,950,800 in exports d. $4,793,700 in imports, $5,069,200 in exports

b. $17,040,000 in imports, $22,550,000 in exports

Esteban bought a new stove for $986 on his credit card. He used the stove for eleven years before replacing it. The stove cost him an average of $0.14 per day in electricity. Esteban had preventive maintenance done on the stove, costing $24.25 each year for the eleven years. Esteban's credit card has an APR of 9.26%, compounded monthly. He paid off his balance by making identical monthly payments for five years. Sales tax in Esteban's area is 8.22%. Assuming that Esteban made no other purchases or payments with his credit card, what was the lifetime total cost of the stove? (Assume that two of the years Esteban had the stove were leap years, and round all dollar values to the nearest cent.) a. $2,534.57 b. $2,166.53 c. $2,234.23 d. $2,064.53

b. $2,166.53

A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that the annual percentage rate on its loans is 39%. What fees would the company charge on a $1,200 loan if the term of the loan is 18 days? (Round to the nearest dollar). a. $18 b. $23 c. $28 d. $30

b. $23

The figure above shows a store's supply-demand graph for coffee makers. If the store sells $375 worth of coffee makers, which of the following is a valid possible price for them? a. $15 b. $25 c. $40 d. $55

b. $25

In 1983, a hardcover dictionary cost $145.75. If the CPI is currently 209, what would a hardcover dictionary cost today? Round to the nearest cent. a. $354.75 b. $304.62 c. $254.75 d. $209.00

b. $304.62

Last year, Sam's Swimming Pool Cleaning had a gross profit of $105,355 and net income of $72,010. Calculate Sam's operating expenses for last year. a. $3,335 b. $33,345 c. $17,734 d. $177,345

b. $33,345

Michelle has four credit cards with the balances and interest rates listed below. She would like to consolidate all of her credit cards in a single credit card with an interest rate of 16% and pay off the balance in 36 months. If she did so, what would Michelle's monthly credit card payment be? Credit Card Balance APR #1 $4,380 17% #2 $1,365 19% #3 $2,480 23% #4 $5,000 15% a. $367.36 b. $464.95 c. $685.23 d. $826.56

b. $464.95

Carl has a credit card with a balance of $5,260 and an APR of 21%. With the monthly payments he has been making, Carl would be able to pay off his credit card in 18 months. After receiving a promotional offer in the mail, Carl decides to transfer his balance to a new credit card with a 15% "introductory" APR for the first 12 months. After 12 months, the APR increases to 23%. How much will Carl save in finance charges (interest) if he pays off the credit card before the introductory APR expires? a. $285.38 b. $480.30 c. $789.00 d. $917.42

b. $480.30

Sam is planning to start a pool cleaning business. If Sam meets his profit goal of $45,000 the first year and expects his annual profits to increase by 5.5% each year for the next 3 years, how much profit does Sam expect to make in his third year of business? a. $47,475.00 b. $50,086.13 c. $52,840.86 d. $55,747.11

b. $50,086.13

May currently has a balance of $1,817.43 on her credit card. If she must make a minimum monthly payment of 3.44% of her total balance, what is her minimum payment, to the nearest cent? a. $5.21 b. $62.52 c. $40.84 d. $51.49

b. $62.52

Sam has been running his swimming pool cleaning business now for five years. He is considering enlarging his service area to a 100 mile radius, which would require two new offices in different parts of town. He would like to take out a business loan to cover the cost of expansion. The profits for Sam's business over the last 5 years are outlined in the table below. According to this information, what would be the best estimate for Sam to quote as expected profits in the next year in his new business plan? Business Year Net Profit 1 $43,502.25 2 $47,417.45 3 $51,685.02 4 $56,336.68 5 $61,406.98 a. $66,477.28 b. $66,933.60 c. $72,003.91 d. $72,957.63

b. $66,933.60

Annie would like to take out a loan to put a new playground in her yard for her kids. She offers her car which is worth $7,800 as collateral. The loan officer at the bank is permitted to loan Annie 92% of the value of her collateral. How much will Annie be able to borrow for the playground using her car as collateral? a. $7,708.00 b. $7,176.00 c. $7,800.00 d. $8,478.26

b. $7,176.00

Benson has a bankruptcy on his credit report, so he pays higher interest rates on his current loans. He calculates that the extra money he pays in additional interest each year, if invested at the rate of 2% for one year, could earn him simple interest totaling $180. How much does Benson pay in additional interest each month? a. $360 b. $750 c. $900 d. $1,000

b. $750

Geoffery went on a trip across South America. He took 1,750 US dollars (USD) with him. In Chile, he traded his money for Chilean pesos (CLP) at a rate of USD:CLP = 1:496.5000. He spent 217,513 pesos before he went to Venezuela. In Venezuela, he traded his Chilean pesos for Venezuelan bolivars (VEF) at a rate of CLP:VEF = 1:0.1283. During his time in Venezuela, he spent 38,422.19 bolivars. At his next stop, Paraguay, he traded his Venezuelan bolivars for Paraguayan guarani (PYG) at a rate of VEF:PYG = 1:1063.9500. He spent 12,857,441.39 guarani before returning to the United States, where he traded his Paraguayan guarani for US dollars at a rate of PYG:USD = 1:0.00002186. How much money did Geoffery have remaining, in US dollars? Round all currency values to two decimal places. a. $1,353.13 b. $768.98 c. $662.60 d. $281.06

b. $768.98

Greg has a credit card which requires a minimum monthly payment of 2.06% of the total balance. His card has an APR of 11.45%, compounded monthly. At the beginning of May, Greg had a balance of $318.97 on his credit card. The following table shows his credit card purchases over the next few months. If Greg makes only the minimum monthly payment in May, June, and July, what will his total balance be after he makes the monthly payment for July? (Assume that interest is compounded before the monthly payment is made, and that the monthly payment is applied at the end of the month. Round all dollar values to the nearest cent.) a. $812.86 b. $830.31 c. $864.99 d. $1,039.72

b. $830.31

Byron filed for bankruptcy a few years ago, but is still paying higher deposits and interest rates. Byron has calculated that he paid an average of $79.15 per month in additional charges as a result of his bankruptcy. If Byron been able to save this money for the year and then put it into a savings account earning 2% simple interest, how much money could he have in savings after another year? a. $949.80 b. $968.80 c. $1,139.76 d. $1,918.60

b. $968.80

You have a spinner, shown below. You wish to test its fairness, so you conduct several trials in which you repeatedly spin the spinner and record how many times you come up with a result of violet. Your results are shown in the table next to the spinner. Trial 1 2 3 4 Times Spun 85 156 34 127 Times Violet 10 18 2 14 Calculate the experimental probability of your spinner showing a result of violet, written as a percentage to two decimal places. a. 10.05% b. 10.95% c. 11.02% d. 11.11%

b. 10.95%

It costs a publishing company $0.55 to print one copy of a certain novel. This company paid $725,000 for the rights to the novel. If they can sell a copy of the novel for $6.75, how many copies of the novel must they sell to break even, to the nearest hundred? a. 195,300 b. 116,900 c. 107,400 d. 99,300

b. 116,900

When it is 4:00 a.m. in Halifax, it is 1:00 p.m. in Karachi, and when it is 9:00 a.m. in Karachi, it is 5:00 a.m. in Warsaw. Mary left Halifax to fly to Karachi, but she accidentally left her watch on Warsaw time. According to Mary's watch, she left Halifax at 9:40 p.m. on Monday. The local time when she arrived at Karachi was 3:00 p.m. Tuesday. How long was Mary's flight? a. 9 hours, 20 minutes b. 13 hours, 20 minutes c. 14 hours, 20 minutes d. 17 hours, 20 minutes

b. 13 hours, 20 minutes

Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate? a. 9% b. 14% c. 18% d. 26%

b. 14%

Khybar Inc. manufactures dental x-ray machines. The company can sell an x-ray machine which cost $508.17 to produce for $1,295.75. Each of the company's two salespeople earns a different commission per sale, as shown in the table below. Salesperson Commission/Sale Greg $243.15 Colleen $288.75 Last year, Greg sold 11 fewer x-ray machines than Colleen did. Khybar Inc.'s total expenses last year, not counting production costs or commissions, came to $79,558.59. If Khybar Inc. broke even, how many x-ray machines were sold last year in total? a. 149 b. 153 c. 157 d. 160

b. 153

The prices of consumer goods do not always exactly follow the CPI. The following chart shows several consumer items, along with their respective prices in 1983 and today. Item Price in 1983 ($) Current Price ($) Shower curtain 8.85 15.66 Floor rug 71.25 119.75 T-shirt 13.95 23.99 Oscillating fan 22.75 37.50 Using the prices shown on this chart, which of the following is a reasonable estimate of the current CPI? a. 164 b. 170 c. 185 d. 199

b. 170

The following graph displays the number of bushels of apples produced by a small orchard over the course of several months. How many bushels of apples were produced in September? a. 23 b. 19 c. 16 d. 9

b. 19

Jan is a leading player on her basketball team. She has kept track of how many points she has scored over the course of the season. Her scores may be viewed in the table below. 20 19 24 41 34 23 15 22 32 28 18 18 14 14 12 16 What is the median of Jan's scores? a. 18 b. 19.5 c. 20 d. 21.875

b. 19.5

The prices of consumer goods do not always exactly follow the CPI. The following chart shows several consumer items, along with their respective prices in 1983 and today. Item Price in 1983 ($) Current Price ($) Pair of boots 67.45 126.85 Hair dryer 15.25 29.95 Box of tissues 1.15 2.25 Toaster 22.85 44.25 Using the prices shown on this chart, which of the following is a reasonable estimate of the current CPI? a. 208 b. 195 c. 180 d. 173

b. 195

Gary is looking over his receipts from his trip to Europe. When he was in Germany, he exchanged US dollars for euros at a rate of 1:0.7716, and when he was in Poland, he exchanged euros for Polish zloty at a rate of 1:4.0518. To four decimal places, what was the exchange rate of US dollars to Polish zloty? a. 1:0.3199 b. 1:3.1264 c. 1:4.8234 d. 1:5.2512

b. 1:3.1264

Shakira has a balance of $202.86 in her checking account on Saturday morning. She uses her debit card to pay her cell phone bill of $80.73 over the phone. She then picks up her dry cleaning, dog food at the pet store and groceries for debits of $16.89, $35.24, and $113.92. Shakira's bank uses a balance system of deducting highest transactions first. The bank will not return amounts up to a total of $50 in overdrafts, but they do charge a fee for each overdraft. How many overdraft fees will Shakira incur? a. 1 b. 2 c. 3 d. 4

b. 2

Miranda is calculating her expected expenses for her week long trip to Turkey. Her flight costs 928 TL (Turkish Lira), her lodging costs 755 TL, and she has allowed 814 TL for food and spending money. What is Miranda's total? a. 4,762 TL b. 2,497 TL c. 869 TL d. 641 TL

b. 2,497 TL

Tony is the staff manager of a movie theater, and he is trying to decide which shifts should have the greatest number of employees on staff. Over the course of a week, Tony recorded how many customers appeared during each shift, the results of which can be seen in the graph below. Tony wants the distribution of his employees to match the distribution of the customers. If Tony has 230 total employees, how many should he assign to the 1:00 p.m. shift? a. 15 b. 20 c. 68 d. 156

b. 20

A high school guidance counselor wants to find the probability that students who study geometry as freshmen will go on to study calculus before graduating. To do this, he has constructed a table, shown below, which shows the number of students who study geometry as freshmen in a given year, and the number of those students who study calculus before graduating. Year 2000 2001 2002 2003 2004 2005 Geometry Students 680 577 822 743 859 804 Calculus Students 391 336 512 374 465 361 Which year had the highest experimental probability that a freshman studying geometry would take a calculus class before graduation? a. 2001 b. 2002 c. 2003 d. 2004

b. 2002

A city keeps track of the number of new small businesses which open in any given year, as well as how many of those new businesses report profit in excess of their initial investment after one year's time. An example of the data collected can be viewed in the table below. Year 1998 1999 2000 2001 2002 New 781 699 626 730 762 Profitable 311 205 217 264 244 If 684 new small businesses opened in 2003, approximately how many of them could be expected to turn a profit in excess of their initial investment by 2004? a. 200 b. 236 c. 247 d. 272

b. 236

Shaquil needs to borrow $400. The loan company charges him $80 in fees for the loan. Shaquil calculates that the annual percentage rate (APR) on his loan is 250%. Approximately what is the term of Shaquil's loan? a. 7 days b. 29 days c. 46 days d. 73 days

b. 29 days

Based on the supply graph and the demand graph shown above, what is the price at the point of equilibrium? a. 20 b. 30 c. 40 d. There is not enough information given to determine the point of equilibrium.

b. 30

Michelle has four credit cards with the balances and interest rates listed below. Rather than budget to pay each of the credit cards off in 36 months, Michelle would like to pay them off one at a time based on the balance for each credit card. In which order should Michelle pay off her credit cards? Credit Card Balance APR #1 $4,380 17% #2 $1,365 19% #3 $2,480 23% #4 $5,000 15% a. 1,2,3,4 b. 4,1,3,2 c. 4,3,1,2 d. 1,3,2,4

b. 4,1,3,2

How many different 4-digit personal identification numbers are possible if no digit can be used twice? a. 1,000 b. 5,040 c. 9,000 d. 10,000

b. 5,040

Olivia bought a $1,874 sprinkler system with her credit card. Her credit card has an APR of 10.31%, compounded monthly. She made no other purchases on the card until the sprinkler system was fully paid for, which took four years of identical monthly payments. Over the eight years that Olivia kept the sprinkler system, it used an average of $2.11 in water per week. After eight years, what percentage of the total lifetime cost of the system did the original price make up? (Round all dollar values to the nearest cent.) a. 81.66% b. 59.07% c. 38.25% d. 72.33%

b. 59.07%

When it is 1:00 a.m. in Toronto, it is 3:00 a.m. in Rio de Janiero, and when it is 10:00 a.m. in Rio de Janiero, it is 11:00 p.m. in Melbourne. You leave Toronto to fly to Rio de Janiero, but you accidentally left your watch on Melbourne time. Your watch says that you leave Toronto at 9:30 a.m. on Saturday. When you arrive in Rio de Janiero, the local time is 3:15 a.m. on Saturday. How long was your flight? a. 8 hours, 45 minutes b. 6 hours, 45 minutes c. 4 hours, 45 minutes d. 2 hours, 45 minutes

b. 6 hours, 45 minutes

Rebecca is calculating her expected expenses for her week long trip to Thailand. Her plane ticket costs 22,885 baht, her lodging costs 15,307 baht, and she has set aside 29,071 baht for food and spending money. What is Rebecca's total expense? a. 128,071 baht b. 67,263 baht c. 21,493 baht d. 9,121 baht

b. 67,263 baht

Based on the demand graph and the supply graph shown above, what is the price at the point of equilibrium? a. 100 b. 70 c. 40 d. There is not enough information given to determine the point of equilibrium.

b. 70

Mary is averaging her grandchildren's credit scores. She has arranged the scores in the table shown below. What is the median credit score in this group? (Round to the nearest whole point, if applicable.) 639 732 790 837 677 744 637 821 a. 735 b. 738 c. 757 d. There is no median in this group.

b. 738

Daniel is looking over the credit scores of a batch of potential new hires. Their credit scores are compiled in the table below. What is the mode of this group of credit scores? (Round to the nearest whole point, if applicable.) 812 769 744 812 688 725 744 744 801 a. 812 b. 744 c. 760 d. There is no mode in this group.

b. 744

Calvin works at a facility which processes apples. It costs the facility $0.68 to make either a jar of applesauce or a bottle of apple juice. Due to the nature of the process and contractual agreements, Calvin's facility must make and sell three jars of applesauce for every two bottles of apple juice. A jar of applesauce sells for $2.20, and a bottle of apple juice sells for $3.15. If the facility has annual overhead costs of $368,500, not including production costs, how many bottles of apple juice will the facility have sold when it breaks even every year? Round to the nearest whole bottle, if necessary. a. 38,789 b. 77,579 c. 116,368 d. 167,500

b. 77,579

Clara, while vacationing in Italy, decided to go swimming. When she asked at what temperature the pool was kept, she was told that it had a constant temperature of 35.8°C. What temperature is the pool in °F, to the nearest tenth? a. 53.6°F b. 96.4°F c. 122.0°F d. 129.1°F

b. 96.4°F

Addison has a balance of $3,450 on her credit card that has an APR of 18%. She currently pays the minimum monthly payment of $86.25. If Addison wants to pay off her balance in 24 months, determine the monthly payments she would need to make. Choose the following modification with the least cuts to her current expenses that will allow Addison to pay off her balance in 24 months. Income Wages $2,278.00 Expenses Rent $950.00 Utilities $232.45 Food/Clothes $445.00 Entertainment $270.00 Car $200.00 Credit Card $86.25 Cell Phone $77.89 Net Income $16.41 a. Addison can eliminate $73 from Food/Clothes and $100 from Entertainment. b. Addison can eliminate $45 from Food/Clothes and $41 from Entertainment. c. Addison can eliminate $25 from Food/Clothes and $22 from Entertainment. d. The minimum payment is enough to pay off the balance within 24 months.

b. Addison can eliminate $45 from Food/Clothes and $41 from Entertainment.

In 1883, citizens all over America reset their clocks and watches to reflect the current time in one of four new U.S. time zones. These new time zones were the result of _____. a. the United States' cooperation in a world-wide time zone reform b. American railroad companies trying to simplify and coordinate their schedules c. labor unions arguing the need for factory workers to work the same work day from 8 a.m. to 5 p.m. d. Samuel Morse's realization that the sun will rise on the West coast three hours earlier than the East coast

b. American railroad companies trying to simplify and coordinate their schedules

A company is presenting the sales data using a bar graph. The company asserts that the sales increased substantially from 2006 to 2008 using Bar Graph 1. Their competitor used the same sales data to produce Bar Graph 2. Which bar graph is misleading? How do you know? a. Bar Graph 2 is misleading because it does not show that the sales increased from 2006 to 2008. b. Bar Graph 1 is misleading because the vertical axis does not start and 0 and the scale for the graph is 0.25 instead of 1. c. Bar Graph 2 is misleading because the vertical axis starts at 0 and increases by units of 1. d. Bar Graph 1 is misleading because shows the sales for all eight years.

b. Bar Graph 1 is misleading because the vertical axis does not start and 0 and the scale for the graph is 0.25 instead of 1.

Pam has just moved into a new home and wants to purchase an oven. She expects to live in this house for the foreseeable future. She has narrowed her choices down to two options. Consider the following table, which describes the prices, daily electricity costs, and lifespans of the two ovens she is considering: Brand Brand U Brand V Price $2,250 $725 Avg. Cost/Day $0.16 $0.28 Lifespan 24 years 8 years Which brand will have the lower lifetime cost, and how much lower will it be? Hints: If the product's expected lifespans differ, assume that repurchase(s) at the same price is possible to equalize the lifespans. Remember that six of the twenty-four years will be leap years, and round all dollar values to the nearest cent. a. Brand U will be $1,051.92 cheaper than Brand V. b. Brand U will be $976.92 cheaper than Brand V. c. Brand V will be $75 cheaper than Brand U. d. Brand V will be $2109.40 cheaper than Brand U.

b. Brand U will be $976.92 cheaper than Brand V.

How do the choices consumers make impact business decisions? a. Businesses are run by consumers, so the choices those consumers make will find their way into business decisions. b. Businesses can track the trends of what consumers are and are not buying, and will attempt to cater to the desires of those who provide them with profits. c. The government mandates that businesses respond promptly to the preferences of the market. d. Businesses, like consumers, tend to follow fads and trends, so setting trends can cause businesses to follow along.

b. Businesses can track the trends of what consumers are and are not buying, and will attempt to cater to the desires of those who provide them with profits.

While staying in Jerusalem, Israel, you decide to visit three other cities: Tel Aviv, Holon, and Ra'anana. The following table shows the costs associated with traveling to and from each city, with all costs listed in Israeli new shekalim (NIS). Origin and Destination Cost (NIS) Jerusalem to Tel Aviv 269 Jerusalem to Holon 201 Jerusalem to Ra'anana 281 Tel Aviv to Jerusalem 235 Tel Aviv to Holon 263 Tel Aviv to Ra'anana 203 Holon to Jerusalem 150 Holon to Tel Aviv 198 Holon to Ra'anana 290 Ra'anana to Jerusalem 176 Ra'anana to Tel Aviv 234 Ra'anana to Holon 218 You can choose to visit these cities in any order, but you will start and end your trip in Jerusalem. If you have a budget of NIS 900, which of the following routes are possible? I. Jerusalem Tel Aviv Ra'anana Holon Jerusalem II. Jerusalem Holon Tel Aviv Ra'anana Jerusalem III. Jerusalem Ra'anana Tel Aviv Holon Jerusalem a. II only b. I and II c. I and III d. None of these are possible.

b. I and II

Consider the following graph, which details the observed bear population in two national parks. Of the following, which option or options would help make this graph less misleading? I. The scale on the x-axis should be resized. II. The scale on the y-axis should be resized. III. The identity of the two parks should be more clearly differentiated. a. I and II b. II and III c. III only d. I and III

b. II and III

The exchange rate between non-fixed currencies continuously fluctuates. The following table shows the exchange rate of pounds sterling to the Israeli new shekel (plural shekalim) over a period of six days. Day £:INS Monday 1:6.0333 Tuesday 1:5.8594 Wednesday 1:5.7012 Thursday 1:5.9462 Friday 1:6.1715 Saturday 1:6.0896 Nate has £88.65 to convert into shekalim. The currency exchange he is using charges an 8% surcharge when converting currency. About how many more shekalim will Nate receive if he makes his trade on the day with the most favorable exchange rate than if he makes his trade on the day with the least favorable exchange rate? a. INS 41.69 b. INS 38.35 c. INS 31.68 d. INS 6.67

b. INS 38.35

The following graph shows Caroline's sales records since she started her position 22 months ago. Caroline's two managers, Shawna and Morris, are having a meeting to discuss her performance. To prepare, Morris looks at Caroline's sales over the past four months, and Shawna looks at Caroline's total records. How is Shawna's opinion likely to differ from Morris's? a. Morris is likely to see a total growth in sales, while Shawna will probably see a decline in Caroline's performance. b. Morris will only see a rapid drop in performance, while Shawna knows that Caroline is usually a solid salesperson and that her lapses never last long. c. Shawna will see a higher median performance from Caroline, while Morris will see a higher mean performance. d. Shawna will see that Caroline's sales tend to increase over time, while Morris will believe that they tend to decrease.

b. Morris will only see a rapid drop in performance, while Shawna knows that Caroline is usually a solid salesperson and that her lapses never last long.

Tony is a loan officer. He determines his clients' eligibility for loans and for good interest rates by using their credit scores. The scores of several clients are shown in the following table. Name Experian Equifax TransUnion Neil 726 752 822 Paula 634 732 771 Jeff 721 760 754 Peter 666 716 707 Help Tony evaluate his applicants based on their mean and median credit scores. a. Jeff has the highest mean score, but Paula has the highest median score. b. Neil has the highest mean score, but Jeff has the highest median score. c. Neil has the highest mean score and the highest median score. d. Paula has the highest mean score, but Jeff has the highest median score.

b. Neil has the highest mean score, but Jeff has the highest median score.

Which of the following statements best describes the difference between net income and gross profit? a. Gross profit considers operating expenses while net income does not. b. Net income considers operating expenses while gross profit does not. c. Gross profit deducts taxes while net income does not. d. Net income deducts taxes while gross profit does not.

b. Net income considers operating expenses while gross profit does not.

Which option below is a preventive measure against ID fraud or theft? a. Make purchases through the mail only. b. Never reveal personal information to a stranger. c. Carry personal information in your wallet or purse. d. Use the phone to transfer personal information.

b. Never reveal personal information to a stranger.

Korey is planning to open a comic book store. He has developed the following expense breakdown for set-up and operation for the first year. Korey has $8,500 in savings and $25,000 in inheritance money to use to open his store. Will Korey have enough to run his business for a full year? Expense Amount Rent $10,800 Insurance $3,000 Store Fixtures $2,700 Computer and Cash Register $1,200 Inventory $17,400 a. Yes, Korey will have $1,600 to spare. b. No, Korey will be short $1,600. c. Yes, Korey will have $15,800 to spare. d. No, Korey will be short $15,800.

b. No, Korey will be short $1,600.

Olya would like to find a way to reduce her current debt. The table below shows Olya's monthly income, expenses and net income. Monthly Budget Amount Income Wages $2,750.00 Expenses Rent $850.00 Utilities $236.54 Entertainment $410.00 Food $220.00 Cell Phone $114.98 Credit Card #1 $56.79 Credit Card #2 $38.45 Car Insurance $120.00 Car Payment $260.00 School Loan $250.00 Net Income $193.24 After evaluating Olya's monthly budget, which of the following would not be an option to help reduce her debt? a. Olya could spend less on entertainment each month and put the money towards her credit card payment. b. Olya could skip a month or two paying for her school loan and put the money towards her credit card debt. c. Olya could try to save money on her utility bills by investigating money saving plans offered by the utility company. d. Olya could spend less on food each month and put the money towards her credit card payment.

b. Olya could skip a month or two paying for her school loan and put the money towards her credit card debt.

Paul is going to buy a collectible vintage painting from a local art gallery. The painting is priced at $600 in the gallery. The gallery owner does accept credit cards but prefers cash. In fact, he offers to give Paul a 5% discount if he can pay in cash. Paul doesn't have any cash but can get a cash advance on his credit card. His credit card has an APR of 16% on credit purchases and a 32% APR on cash advances. Assuming Paul wants to pay the painting off over 12 months, which of the following is true? a. Paul will pay a total of $696, over 12 months, if he purchases the painting with his credit card. b. Paul will pay a total of $653.28, over 12 months, if he purchases the painting with his credit card. c. Paul will pay a total of $782.40, over 12 months, if he purchases the painting with a cash advance for discounted purchase price. d. Paul will pay a total of $708.96, over 12 months, if he purchases the painting with a cash advance for discounted purchase price.

b. Paul will pay a total of $653.28, over 12 months, if he purchases the painting with his credit card.

Brendan is planning a trip to Germany. He is trying to decide which cities to visit during his stay. The following table shows potential cities he could visit, as well as what he expects to pay for lodging, transportation, and similar expenses in each one. All costs are given in euros (€). City Cost (€) Berlin 171 Wiesbaden 263 Hanover 169 Dresden 215 Kiel 209 Stuttgart 297 Potsdam 179 Munich 159 Brendan's original plan was to visit Stuttgart, Dresden, Weisbaden, and Berlin. However, he would like to keep his costs under €860. Which change to Brendan's travel plans would result in his staying under, but closest, to his original budget? a. Replace Dresden with Potsdam. b. Replace Stuttgart with Kiel. c. Replace Berlin with Munich. d. Replace Weisbaden with Hanover.

b. Replace Stuttgart with Kiel.

The following chart shows a store's coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of jackets. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.) a. Sales of jackets increased 3.6 percentage points faster than total coat sales. b. Sales of jackets increased 18.8 percentage points faster than total coat sales. c. Total coat sales increased 8.1 percentage points faster than sales of jackets. d. Total coat sales increased 24.5 percentage points faster than sales of jackets.

b. Sales of jackets increased 18.8 percentage points faster than total coat sales.

The following chart shows a store's coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of trench coats. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.) a. Sales of trench coats increased 0.7 percentage points faster than total coat sales. b. Sales of trench coats increased 8.3 percentage points faster than total coat sales. c. Total coat sales increased 2.5 percentage points faster than sales of trench coats. d. Total coat sales increased 10.7 percentage points faster than sales of trench coats.

b. Sales of trench coats increased 8.3 percentage points faster than total coat sales.

Because of his business's recent success, Sam has decided to expand his Sam's Swimming Pool Cleaning to include another branch. This will add expenses for another office and payroll for five more employees, but Sam's customer base will stay the same, at least for a while. Until Sam's new branch starts bringing in new customers, how will this change affect Sam's net profit margin? a. An added expense of a new branch has nothing to do with Sam's net profit margin. b. Since the new branch is adding expenses, Sam's net profit margin will go down. c. Since the new branch is adding expenses, Sam's net profit margin will go up. d. Since the expense the new branch is adding is negligible, Sam should see no change in his net profit margin.

b. Since the new branch is adding expenses, Sam's net profit margin will go down.

Jason used his car as collateral to borrow money from his bank. After losing his job, Jason is now unable to make his monthly payments for the loan, defaulting on the loan. If Jason is unable to continue to make his payments, what is likely to happen to his car? a. The bank will ask Jason to sell the car to help pay back his loan. b. The bank will seize the car and likely sell it to pay off Jason's loan. c. The bank will notify the local government of Jason's default on his loan, making it illegal for Jason to drive the car. d. The bank will put a "boot" on one wheel of the car, making it un-drivable until Jason begins making his payments again.

b. The bank will seize the car and likely sell it to pay off Jason's loan.

Gregory has a credit card with a 30-day billing cycle and an APR of 11.95%. The following table shows Gregory's credit card transactions for the month of April. Date Amount ($) Transaction 4/1 622.82 Beginning balance 4/4 45.45 Payment 4/10 78.91 Purchase 4/25 16.36 Purchase Between the adjusted balance method and the daily balance method, which method of computing Gregory's April finance charge will result in a greater finance charge, and how much greater will it be? a. The daily balance method will have a finance charge $0.09 greater than the adjusted balance method. b. The daily balance method will have a finance charge $0.54 greater than the adjusted balance method. c. The adjusted balance method will have a finance charge $1.40 greater than the daily balance method. d. The adjusted balance method will have a finance charge $0.86 greater than the daily balance method.

b. The daily balance method will have a finance charge $0.54 greater than the adjusted balance method.

The following statement is from the contract Peter signed with his Homeowners' Association (HOA). "Overnight parking on community streets is prohibited. For the purpose of this contract, 'overnight' will be defined as the hours between 11:00 p.m. and 4:00 a.m. The HOA will monitor overnight parking not less than once every calendar week with nightly patrols by community security. "In the event a car is found parked on community streets overnight and that ownership of the offending car can accurately be verified as a community homeowner, the homeowner will receive one (1) written warning asking him or her to correct the situation. A second and third infraction by the same homeowner, whether or not it is with the same car, will result in a monetary fine as permitted by CC&R guidelines and HOA bylaws. Further infractions (past 3) will result in monetary fines in addition to the towing of the car at the homeowner's expense." After parking his car at 12:30 a.m. last night, Peter was approached by the on-duty neighborhood security guard. The guard told Peter that it was against established HOA rules to park overnight on community streets and reminded Peter that he had signed the contract agreeing to adhere to those rules. He then asked Peter to move the car onto his driveway and warned him that a second offense would result in a monetary fine. Which of the following facts invalidates the contract between Peter and the HOA? a. 12:30 a.m. is not considered "overnight." b. The guard did not give Peter a written warning. c. Peter did not read that part of the contract before he signed it. d. Peter parked in the street even though his driveway was empty.

b. The guard did not give Peter a written warning.

Sarah is planning an extended stay in Greece. The table below shows a list of cities she would like to visit during her trip, as well as the amount of money she expects to need to visit each one. All costs are given in euros (€). City Cost (€) Thessaloniki 206 Athens 243 Volos 208 Kavala 186 Chania 234 Serres 260 Larissa 299 Heraklion 231 Although Sarah would like to visit all of these cities, because she only has a budget of €1,410, she recognizes that she will have to drop some of these cities from her plan. Which of the following pairs of cities will not put Sarah back under budget if she drops them? a. Thessaloniki and Serres b. Volos and Athens c. Larissa and Kavala d. Heraklion and Chania

b. Volos and Athens

Ralph is purchasing a new gaming system for $300.00. He is trying to decide whether he wants to use cash or his credit card to pay. He has $600.00 available in his checking account to pay for the system in full. Which of the following is not an argument that justifies Ralph's use of his credit card to purchase the gaming system? a. If he uses his credit card, he won't have to walk around with $300 in his wallet. b. With credit, he is not required to pay off his balance for a very long time. That's $300 more in his pocket. c. Ralph can afford to pay off the credit card purchase immediately, and it will help build a good credit rating. d. If he uses his credit card, it will be easier to pay for extra items (cords and controllers) that he wasn't expecting to have to purchase.

b. With credit, he is not required to pay off his balance for a very long time. That's $300 more in his pocket.

Tom has offered to sell Julian his motorcycle for $1,200. Julian knows this is a very good deal, since the same motorcycle can be purchased at the dealership for $1,800. Since Julian doesn't have $1,200 and Tom does not accept credit cards, they both think a cash advance might be a good idea. Julian's credit card company can offer him a cash advance for the $1,200 he needs at an interest rate of 26%. He would then pay off the balance in 24 months. Should Julian use the cash advance to purchase the motorcycle? a. No. Julian would be paying too much in interest to warrant using a cash advance. b. Yes. Even with the interest, the total cost of the motorcycle would be less than at the dealership. c. Yes. The interest rate on the cash advance is low. Julian will not have to pay much interest on the cash advance. d. No. The high interest rate on the cash advance would make the purchase of the motorcycle almost twice than the price at the dealership.

b. Yes. Even with the interest, the total cost of the motorcycle would be less than at the dealership.

Which of the following is a cause of inflation? a. consumers growing apathetic and failing to notice attempts to raise prices b. demand continually exceeding supply, leading to an imbalance of money and goods in the market c. a natural consequence of the use of money instead of trade goods d. government intervention demanding that prices be raised

b. demand continually exceeding supply, leading to an imbalance of money and goods in the market

Which of the following is a pair of events which are dependent on one another? a. observing rainfall in two different cities b. drawing a pair of cards from a deck c. putting on a pair of pants and a shirt without looking at them d. rolling two dice with the same number of sides

b. drawing a pair of cards from a deck

Sam is planning to open a pool cleaning business from his home. Sam's business will come with a set-up cost of $9,000 and an annual operational cost of $30,500. Sam anticipates an annual profit of $45,000 for the first year and expects profits to increase by 5.5% annually for the next 5 years. This is all information Sam should include in the _____ component of his business plan. a. organization plan b. financial analysis c. executive summary d. implementation plan

b. financial analysis

Kim is planning a trip to Spain. She will stay there for a total of thirteen nights. She has found two options for her lodging: a hostel, which charges €12.65 (12.65 euros) per night, and a private hotel, which charges €31.25 per night. Kim would like to spend as many nights as she can afford in the private hotel. If she has a budget of €275 for lodging, how many nights can she stay in the hotel? a. four b. five c. six d. seven

b. five

A written contract is not legally binding until _____. a. money is exchanged b. it is signed by all parties involved c. all requirements of the contract have been fulfilled d. it is signed by all parties involved and notarized by an authorized notary official

b. it is signed by all parties involved

You are playing a game in which you randomly select one square tile and one round tile from the sets shown below. Before you select your tiles, you try to guess which combination you will pick. Of the four possible guesses listed below, which one will give you the greatest chance of success? a. green square tile and red round tile b. pink square tile and orange or yellow round tile c. red or blue square tile and black or green round tile d. blue square tile and blue or purple or white round tile

b. pink square tile and orange or yellow round tile

With respect to a personal loan, the finance charge a borrower pays is _____. a. an income tax on the loan b. the extra money he or she pays in interest c. usually a one time $20 application processing fee d. something the borrower can opt out of with good credit

b. the extra money he or she pays in interest

For many hotels, including the Grand Hotel Toplice, the price of a room will fluctuate depending on _____. a. the time of day b. the time of year c. the gender of the person d. the nationality of the person

b. the time of year

How is the interest rate on a payday loan calculated? a. loan amount divided by total fees b. total fees divided by loan amount c. total fees divided by days of loan d. APR divided by 365

b. total fees divided by loan amount

Over the course of a year, a nation records that its exports total an equivalent of $61,475,059, and its imports total an equivalent of $69,696,824. What is this nation's balance of trade? a. trade deficit of $131,171,883 b. trade deficit of $8,221,765 c. trade surplus of $131,171,883 d. trade surplus of $8,221,765

b. trade deficit of $8,221,765

When creating passwords for secure accounts, which of the following rules should you apply? a. use personal information that is easy to remember b. use a variety of letters, numbers and characters c. use a sequence or pattern of numbers d. use the same password for all accounts

b. use a variety of letters, numbers and characters

The exchange rate between non-fixed currencies continually fluctuates. The chart below shows the exchange rate of the US dollar to the Japanese yen over the course of six days. Day $:¥ Monday 1:88.6122 Tuesday 1:90.8305 Wednesday 1:87.5507 Thursday 1:91.2323 Friday 1:92.7120 Saturday 1:89.4477 Mary has $311.75 to convert into yen. The currency exchange she is using charges a surcharge of 6% when converting currency. About how many more yen will Mary receive if she makes her trade on the day with the most favorable exchange rate than if she makes her trade on the day with the least favorable exchange rate? a. ¥1,125 b. ¥1,513 c. ¥1,609 d. ¥1,706

b. ¥1,513

The exchange rate between non-fixed currencies continuously fluctuates. The table below shows the exchange rate of the US dollar to the euro over the course of six days. Day $:€ Monday 1:0.7102 Tuesday 1:0.7544 Wednesday 1:0.7053 Thursday 1:0.6910 Friday 1:0.6869 Saturday 1:0.7273 Sandy has $829.04 to convert into euros. How many more euros would Sandy have if she made her trade on the day with the most favorable exchange rate than if she made her trade on the day with the least favorable exchange rate? Round all currencies to two decimal places. a. €33.49 b. €55.96 c. €67.04 d. €107.99

b. €55.96

Freida's credit card has an APR of 13.73%, and it calculates her finance charge by using the daily balance method and a 30-day billing cycle. On September 1st, Freida had a balance of $449.22. During the month of September, she made a payment of $85.33 and a purchase of $60.99. How much greater will her September finance charge be if the purchase occurred on September 7th and the payment occurred on September 20th than it would be if the payment occurred on September 7th and the purchase occurred on September 20th? a. $0.13 b. $0.41 c. $0.72 d. $0.28

c. $0.72

Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. He calculates that the extra money he pays in additional interest each year, if invested at the rate of 2.5% for one year, could earn him simple interest totaling $300. How much does Tyrell pay in additional interest each month? a. $90 b. $100 c. $1,000 d. $12,000

c. $1,000

Ricky spends $103.19 in additional interest and charges on monthly payments as the result of a prior bankruptcy. If Ricky had been able to save this money for one year and then put it into a savings account earning 3.1% simple interest, how much money could he have in savings after two more years? a. $1,238.28 b. $1,276.67 c. $1,315.06 d. $2,476.56

c. $1,315.06

Kate took out a subsidized Stafford loan worth $9,710 to pay for college. The interest rate on the loan was 5.9%, compounded monthly. It took Kate 5 years to pay off the loan after graduation. What portion of the total amount she paid represented the interest? a. $11,236.22 b. $9,710.00 c. $1,526.22 d. $2,942.37

c. $1,526.22

Tyrek wants to lower his credit card debt and has been tracking his expenses for the past month. He found his variable expenses in relation to his fixed expenses. How much of Tyrek's monthly income is left once he pays off his fixed expenses? a. $2,610 b. $1,395 c. $1,890 d. $3,105

c. $1,890

Elizabeth's credit card computes her finance charges using the previous balance method and a 30-day billing cycle. The table below shows Elizabeth's credit card transactions in July. Date Amount ($) Transaction 7/1 969.26 Beginning balance 7/3 45.00 Payment 7/10 67.48 Purchase 7/12 20.00 Payment 7/28 85.00 Payment If Elizabeth has an APR of 14.61%, how much will her July finance charge be? a. $9.97 b. $12.62 c. $11.80 d. $10.80

c. $11.80

Monica is trying to lower her credit card debt and has been tracking her expenses for the past month. She identified her variable expenses in relation to her fixed expenses. Without altering her variable expenses, how much extra could she possibly put towards her credit cards? a. $1,792 b. $1,568 c. $224 d. $1,008

c. $224

Brandon has two credit cards and would like to consolidate the two balances into one balance on the card with the lower interest rate. The table below shows the information about the two credit cards Brandon currently uses. Card A Card B Amount $1,463.82 $1,157.98 APR 13% 17% Monthly Payment $24.60 $22.14 After 8 years, how much will Brandon have saved in interest by consolidating the two balances? a. $581.76 b. $194.40 c. $256.32 d. $325.44

c. $256.32

Hannah has a credit card with an APR of 11.90% and a billing cycle of 30 days. The following table shows Hannah's transactions in the month of April. Date Amount ($) Transaction 4/1 322.95 Beginning balance 4/10 19.87 Purchase 4/14 50.00 Payment 4/19 71.21 Purchase If Hannah's credit card company calculates finance charges using the daily balance method, what will her April finance charge be? a. $2.71 b. $3.20 c. $3.30 d. $3.61

c. $3.30

Maya's credit card has an APR of 11.84% and a billing cycle of 30 days. The table below shows her transactions with that credit card in the month of September. Date Amount ($) Transaction 9/1 395.61 Beginning balance 9/8 24.13 Purchase 9/13 68.57 Payment 9/26 31.77 Purchase Find Maya's finance charge for September using the previous balance method, the adjusted balance method, and the daily balance method. Among those three possible finance charges, what is the value of the one which is neither lowest nor highest? a. $3.79 b. $3.90 c. $3.68 d. $4.45

c. $3.68

It is the policy of stores owned by the Talkara Co. to give out bonuses to salespeople every six months. The size of the bonus is determined by averaging (taking the mean of) the two highest and the lowest monthly sales totals from the six-month period, taking 8% of the result, and splitting it evenly among the salespeople. The graph below shows sales for the most recent bonus period. If there are six salespeople, how much money will each one receive, to the nearest dollar? a. $243 b. $309 c. $324 d. $355

c. $324

As the director of advertising for a computer company, Isabella is trying to decide how to distribute the money in her advertising budget. The amount of money gained from the sale of various products over the past year is shown in the graph below. Isabella wants the distribution of money spent on advertising to match the distribution of profit gained from each product. If Isabella has a budget of $22.5 million, how much should she allocate for ads for peripherals, to the nearest hundred thousand dollars? a. $9.7 million b. $7.3 million c. $4.1 million d. $2.2 million

c. $4.1 million

While out shopping for new clothes, Xaoting sees a sign for cozy socks advertised on sale for $3.50 per pair. The regular price of the socks is $5 per pair. Xaoting buys 3 pairs and notices that the socks do not ring up at the advertised sale price, so she has the cashier do a price check. If the sales tax is 8%, how much does Xaoting save by paying attention at the register? a. $3.66 b. $4.50 c. $4.86 d. $5.70

c. $4.86

Adam's credit card calculates finance charges using the adjusted balance method and a 30-day billing cycle. The table below shows his use of that credit card over three months. Date Amount ($) Transaction 4/1 626.45 Beginning balance 4/10 37.41 Purchase 4/12 44.50 Purchase 5/3 65.50 Payment 5/16 24.89 Purchase 5/20 104.77 Payment 6/6 23.60 Payment 6/10 15.00 Purchase 6/14 51.85 Purchase If Adam's credit card has an APR of 14.63%, what is Adam's balance at the end of June? a. $629.42 b. $629.66 c. $627.27 d. $628.40

c. $627.27

You are the manager of a retail store, and you have been tasked with finding the return rate on a certain brand of laptop computers. You have assembled the data on the number of computers sold and the number returned over the past six months in the table below. Month Oct Nov Dec Jan Feb Mar Sold 1,621 1,752 1,848 1,634 1,725 1,780 Returned 223 415 421 560 330 304 Using the table as experimental data, if your store has 379 laptops returned in April, how many laptops are likely to have been sold in April? a. 1,578 b. 1,740 c. 1,743 d. 2,219

c. 1,743

Barry put all of the tiles shown below into a bag, then randomly pulled out one round one and one square one. What is the probability that Barry drew two red tiles? a. 9/1,024 b. 1/15 c. 1/80 d. 3/80

c. 1/80

Harold randomly selected one square tile and one round tile from the sets shown below. What is the probability that Harold selected a pink square tile, and either a red or a blue round tile? a. 3/5 b. 14/60 c. 1/9 d. 4/45

c. 1/9

An identity thief watches someone enter a 4-digit PIN and manages to see the first two digits. If the thief tries guessing the PIN, how many possibilities would there be? a. 81 b. 90 c. 100 d. 200

c. 100

When it is 4:00 a.m. in London, it is 11:00 a.m. in Hanoi. If you leave Hanoi at 7:45 a.m. on Friday and fly to London over the course of 9 hours and 45 minutes, what time will it be in London when you land? a. 12:30 a.m. Saturday b. 5:30 a.m. Friday c. 10:30 a.m. Friday d. 8:30 a.m. Friday

c. 10:30 a.m. Friday

John is planning to take out a personal loan for $4,500 to buy a car. He would like to keep his monthly payments at or below $150.00 and pay the loan off in three years. Which of the following is the greatest interest rate John can accept and still meet his criteria? a. 10.75% compounded monthly b. 11.50% compounded monthly c. 12.25% compounded monthly d. 13.00% compounded monthly

c. 12.25% compounded monthly

Charles is going to purchase a new car that has a list price of $21,450. He is planning on trading in his good-condition 2004 Dodge Neon and financing the rest of the cost over three years, paying monthly. His finance plan has an interest rate of 12.28%, compounded monthly. Charles will also be responsible for 6.88% sales tax, a $1,089 vehicle registration fee, and a $124 documentation fee. If the dealer gives Charles 80% of the listed trade-in price on his car, once the financing is paid off, what percent of the total amount paid will the interest be? (Consider the trade-in to be a reduction in the amount paid.) a. 17.64% b. 15.67% c. 16.70% d. 12.86%

c. 16.70%

Lawrence decided to test the balance of his favorite six-sided die. To do so, over the course of a month, he wrote down the total number of rolls he made with it at his weekly gaming night, and how many of those rolls showed a result of six. His data may be seen in the table below. Week 1 2 3 4 Rolls Made 39 21 55 41 Results of Six 5 3 11 11 Find the experimental probability of Lawrence's favorite die rolling a six, expressed as a percentage to two decimal places. a. 16.67% b. 18.49% c. 19.23% d. 26.83%

c. 19.23%

Marcy's company produces grandfather clocks. Each clock costs them $164 to make, and they can sell a clock for $625. If their annual overhead costs, not counting the cost to produce the clocks, comes to $96,000, how many clocks must Marcy's company sell each year to break even? Round to the nearest whole clock, if necessary. a. 122 b. 154 c. 208 d. 293

c. 208

Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary of (equivalent USD) $8,630 annually. If the Thai government wants to raise $70 billion in tax revenue, approximately where should it set the income tax rate? a. 5% b. 15% c. 23% d. 29%

c. 23%

Kurt is staying in Portugal and is trying to make a roast. His cookbook tells him to preheat his oven to 475°F, but the oven is only marked in °C. Where should Kurt set the oven, to the nearest tenth? a. 797.4°C b. 281.7°C c. 246.1°C d. 231.9°C

c. 246.1°C

Johnny's monthly expenses and income are listed below. Calculate Johnny's debt-to-income (DTI) ratio. Johnny's Monthly Debt and Income Housing: Rent $950.00 Renter's Insurance $25.00 Credit: Student $250.00 Car $239.00 Credit Card #1 $25.00 (minimum) Credit Card #2 $40.00 (minimum) Income: Sales Rep $4,400.00 Tutoring $600.00 a. 28% b. 33% c. 31% d. 35%

c. 31%

Ralph is leasing a car worth $24,000 for three years. His leasing company says that the car Ralph is leasing will only be worth $16,000 at the end of his lease. Approximately what percentage of the car's original value will Ralph need to pay as part of his lease? a. 8% b. 16% c. 33% d. 67%

c. 33%

Carlos bought a $235 water heater with his credit card. He used the water heater for five years before replacing it. He paid off the water heater after two years, making monthly payments. The water heater cost him an average of $1.56 per week in electricity, and $0.78 per week in water. If Carlos's credit card has an APR of 14.15%, compounded monthly, and he made no other purchases with it, what percentage of the lifetime cost of the water heater was interest? (Round all dollar values to the nearest cent.) a. 14.15% b. 13.35% c. 4.12% d. 30.83%

c. 4.12%

Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease payment, $500 in minimum credit card payments, and a $425 payment on his speed boat. He also receives $1,200 in interest from his savings and other accounts each month. Calculate Jim's DTI (debt-to-income) ratio. a. 30% b. 35% c. 40% d. 45%

c. 40%

In calculating the monthly payment for a five-year loan, what value should be used for n, the number of periods over which the loan is repaid, as it appears in the following formula? a. 5 b. 12 c. 60 d. 120

c. 60

You are the manager of a clothing store. You must decide how many of your employees to put on the sales floor, and how many to put on the register. Because employees on the sales floor cause customers to buy more products, if you do not have at least 2 employees on the register for every 5 employees working on the sales floor, your registers will get very clogged and you will lose business. You have a total of 84 employees, and you wish to have as many on the sales floor as possible. How should you divide your employees? a. 44 on the sales floor, 40 on the register b. 55 on the sales floor, 29 on the register c. 60 on the sales floor, 24 on the register d. 75 on the sales floor, 9 on the register

c. 60 on the sales floor, 24 on the register

A real estate agent is trying to find the average credit score of some of her clients. She compiled the scores in the table below. What is the mean credit score in this group? (Round to the nearest whole point, if applicable.) 787 615 550 674 784 773 620 720 704 a. 668 b. 784 c. 692 d. 704

c. 692

Christine is reviewing her credit scores from the three major credit bureaus. Her Experian score is 775, her Equifax score is 721, and her TransUnion score is 760. What is Christine's median credit score? (Round to the nearest whole point, if applicable.) a. 752 b. 721 c. 760 d. 748

c. 760

Orlon Jewelry, a retail store, restructures its employees' schedules every six months. The employees are asked for their shift preferences, and the schedules are rearranged according to these preferences. When there is a conflict, those with the best total sales over the past six months are given priority. The following graph and table show the most recent sales records and employee preferences, respectively. Employee 1st Pick 2nd Pick 3rd Pick 4th Pick Brian 2 p.m. 8 a.m. 11 a.m. 5 p.m. Laura 5 p.m. 8 a.m. 2 p.m. 11 a.m. Miguel 5 p.m. 11 a.m. 8 a.m. 2 p.m. Wanda 2 p.m. 5 p.m. 11 a.m. 8 a.m. Based on this information, when will each employee's shift begin? a. 8 a.m. - Laura; 11 a.m. - Miguel; 2 p.m. - Wanda; 5 p.m. - Brian b. 8 a.m. - Miguel; 11 a.m. - Wanda; 2 p.m. - Brian; 5 p.m. - Laura c. 8 a.m. - Laura; 11 a.m. - Brian; 2 p.m. - Wanda; 5 p.m. - Miguel d. 8 a.m. - Brian; 11 a.m. - Miguel; 2 p.m. - Laura; 5 p.m. - Wanda

c. 8 a.m. - Laura; 11 a.m. - Brian; 2 p.m. - Wanda; 5 p.m. - Miguel

Violet ordered her annual credit reports. Her Experian score is 804, her Equifax score is 810, and her TransUnion score is 784. What is Violet's median credit score? (Round to the nearest whole point, if applicable.) a. 797 b. 810 c. 804 d. 799

c. 804

Derek lives in Canada and enjoys herb gardening. His American friend sent him a guidebook for growing fresh herbs. The book says that it is best to cut bay shoots when they are 3.25 in long. If 1 mm is equivalent to 0.03937 in, how many millimeters long should the bay shoots be when Derek cuts them? a. 8.26 mm b. 12.80 mm c. 82.55 mm d. 95.67 mm

c. 82.55 mm

When it is 8:00 a.m. in Damascus, it is 4:00 p.m. in Vladivostok. If your plane departs from Vladivostok at 10:45 a.m. local time and lands in Damascus at 12:30 p.m. local time, how long was the flight? a. 1 hour, 45 minutes b. 5 hours, 45 minutes c. 9 hours, 45 minutes d. 13 hours, 45 minutes

c. 9 hours, 45 minutes

Jacob is visiting Argentina, and he hears a warning that the temperature may drop as low as -12.4°C. How cold is that in °F, to the nearest tenth? a. -54.9°F b. -22.3°F c. 9.1°F d. 35.3°F

c. 9.1°F

Kaleb wants to get a payday loan in the amount of $375. He knows that the annual percentage rates (APR) for these types of loans are high, but he is hoping to find one that has an APR of 40%. If Kaleb finds a business that charges a fee of $37 for the loan, what would the term of the loan need to be in order for Kaleb to get his desired APR? a. 9 days b. 19 days c. 90 days d. 95 days

c. 90 days

Barbara got a flat tire and does not have a spare. She needs her car for work, so she goes to a business that offers payday loans in order to get the money to buy a new tire. She borrows $75 and plans to pay it back when she gets paid in 8 days. Barbara is charged a fee of $15 and the term on her loan is 8 days. Approximately what is the annual percentage rate on her loan? a. 228% b. 487% c. 913% d. 973%

c. 913%

Describe the effect an increase in n, the number of payment periods, has on the monthly payment P in the formula a. An increase in n, the number of payment periods, will not change P, the monthly payment. b. An increase in n, the number of payment periods, will create an increase in P, the monthly payment. c. An increase in n, the number of payment periods, will create a decrease in P, the monthly payment. d. An increase in n, the number of payment periods, can increase or decrease P, the monthly payment, depending on the value of PV.

c. An increase in n, the number of payment periods, will create a decrease in P, the monthly payment.

While staying in Buenos Aires, Argentina, you decide to take a trip to three other cities: Tucuman, Bahia Blanca, and Salta. The following table shows the costs associated with traveling to or from each of these four cities. All costs listed are given in Argentine pesos ($). Origin and Destination Cost ($) Buenos Aires to Tucuman 211 Buenos Aires to Bahia Blanca 268 Buenos Aires to Salta 238 Tucuman to Buenos Aires 272 Tucuman to Bahia Blanca 195 Tucuman to Salta 203 Bahia Blanca to Buenos Aires 200 Bahia Blanca to Tucuman 229 Bahia Blanca to Salta 211 Salta to Buenos Aires 193 Salta to Tucuman 267 Salta to Bahia Blanca 275 Using the information in the table, determine the least expensive way to visit all of these cities, starting and ending in Buenos Aires. a. Buenos Aires Salta Bahia Blanca Tucuman Buenos Aires b. Buenos Aires Tucuman Salta Bahia Blanca Buenos Aires c. Buenos Aires Tucuman Bahia Blanca Salta Buenos Aires d. Buenos Aires Bahia Blanca Tucuman Salta Buenos Aires

c. Buenos Aires Tucuman Bahia Blanca Salta Buenos Aires

Use the following compound interest formula to complete the problem. Sandra has two credit cards, P and Q. Card P has a balance of $726.19 and an interest rate of 10.19%, compounded semiannually. Card Q has a balance of $855.20 and an interest rate of 8.63%, compounded monthly. Assuming that Sandra makes no purchases and no payments with either card, after four years, which card's balance will have increased by more, and how much greater will that increase be? a. Card Q's balance increased by $7.22 more than Card P's balance. b. Card Q's balance increased by $6.69 more than Card P's balance. c. Card P's balance increased by $3.43 more than Card Q's balance. d. Card P's balance increased by $0.80 more than Card Q's balance.

c. Card P's balance increased by $3.43 more than Card Q's balance.

Jason is looking for an engagement ring to offer his girlfriend. He has found a similar ring at each of four different jewelry stores. He doesn't have enough money to pay for the ring in cash, so he is planning on opening a line of credit (credit card) at the store he ends up buying the ring from. The chart below outlines the difference in the price of the rings the different stores offer as well as the difference in credit options. Jason plans to pay off the ring purchase in 36 months. According to the information in the table, which of the jewelry stores will have the cheapest ring in the end? a. Jessie's Jewelry b. Über Pawn c. Diamonds Forever d. Drake and Family Gold

c. Diamonds Forever

The following table shows the time in various cities when it is 4:00 a.m. in New York. New York 4:00 a.m. San Juan 5:00 a.m. Buenos Aires 6:00 a.m. Dublin 9:00 a.m. Rome 10:00 a.m. Istanbul 11:00 a.m. Saint Petersburg 12:00 p.m. Beijing 5:00 p.m. Osaka 6:00 p.m. If a flight between two of these cities leaves at 1:30 p.m. on Friday (local time), flies for 16 hours and 30 minutes, and arrives at 2:00 a.m. Saturday (local time), which of the following pairs of cities could the flight go between? a. New York and Rome b. Saint Petersburg and Beijing c. Dublin and San Juan d. Osaka and Istanbul

c. Dublin and San Juan

While staying in Paris, France, you decide to visit the cities of Nantes and Toulouse. You will begin and end your trip in Paris. The following table shows the costs associated with traveling to and from each of these three cities. All costs are given in euros (€). Origin and Destination Cost (€) Paris to Nantes 69 Paris to Toulouse 67 Nantes to Paris 57 Nantes to Toulouse 76 Toulouse to Paris 56 Toulouse to Nantes 80 Using this table, determine whether it is more cost-effective to go to Nantes first or to go to Toulouse first, and how much cheaper doing so is than the alternative. a. Going to Toulouse first is €3 cheaper than going to Nantes first. b. Going to Toulouse first is €2 cheaper than going to Nantes first. c. Going to Nantes first is €3 cheaper than going to Toulouse first. d. Going to Nantes first is €2 cheaper than going to Toulouse first.

c. Going to Nantes first is €3 cheaper than going to Toulouse first.

Of the four consumer protection groups listed below, identify which groups are government agencies and which are non-governmental. I. Better Business Bureau II. Consumer Product Safety Commission III. Consumers Union IV. Food and Drug Administration a. I and II are governmental; III and IV are not. b. II and III are governmental; I and IV are not. c. II and IV are governmental; I and III are not. d. III and IV are governmental; I and II are not.

c. II and IV are governmental; I and III are not.

The table below shows data on the number of emergency room admissions recorded over the span of one shift. Time 6a 7a 8a 9a 10a 11a 12p 1p 2p Patients 14 15 14 18 10 10 11 16 8 Which of the following graphs displays the same information as that shown in the table? I. II. III. a. I b. II c. III d. all of these

c. III

Which of the following best describes a way of safeguarding personal information? a. Allison removes one check to pay her electric bill and then locks her checkbook in the car when she goes in to pay it. b. Byron gives his credit card number to a telephone solicitor, but only after getting the person's name. c. Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN. d. Lydell reads and signs the privacy policy at his doctor's office that says they only share information with pharmaceutical companies.

c. Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN.

Laura's credit card has an APR of 12.04%, and it computes finance charges using the daily balance method and a 30-day billing cycle. On June 1st, Laura had a balance of $606.40. She made exactly one transaction in June: a payment of $55.25. If Laura's finance charge for June was $5.71, on which day did she make the payment? a. June 8th b. June 12th c. June 15th d. June 20th

c. June 15th

Kari is on a trip to Italy. She has made a list of cities she would like to tour while she is there, as well as how much she expects it will cost her (between transportation, admission, souvenirs, and so on) to see each one. The prices are listed in either US dollars ($) or euros (€). Kari has a budget of $585 set aside for sightseeing. Item Cost Currency Tour of the Vatican 68.77 € Tour of Rome 95.41 € Tour of Naples 71.06 $ Tour of Venice 113.38 $ Tour of Milan 49.69 € She would also like to tour Genoa as well, which would cost her €60.85. If the conversion rate of US dollars to euros at the time of Kari's visit is 1:0.6859, how will this affect her budget? Round all dollar values to the nearest cent. a. Kari can see Genoa and have $60.33 left in her budget. b. Kari can see Genoa and have $41.38 left in her budget. c. Kari has almost exactly enough left in her budget to see Genoa. d. Kari cannot afford to see Genoa, because it would put her $84.48 over budget.

c. Kari has almost exactly enough left in her budget to see Genoa.

Business at Korey's Comics has been good, and Korey expects the same business next month. However, due to an increase in business, Korey has made the decision to bring on an extra hand to help run the store in the afternoons. The new employee will make $435 per month. How does this change affect Korey's monthly net income? a. Korey's monthly net income will be $435. b. Korey's monthly net income will increase by $435. c. Korey's monthly net income will decrease by $435. d. Korey's monthly net income will not be affected by the change.

c. Korey's monthly net income will decrease by $435.

Manny wants to find ways to reduce his current debt. The table below shows Manny's monthly income, expenses and net income. Monthly Budget Amount Income Wages $3,000.00 Expenses Rent $1,200.00 Utilities $269.34 Entertainment $220.00 Food/Clothes $368.00 Cell Phone $89.42 Credit Card #1 $94.62 Credit Card #2 $36.18 Car Insurance $80.00 Car Payment $300.00 Gym Membership $25.00 Net Income $317.44 After evaluating Manny's monthly budget, which of the following would be the best option to reduce his debt? a. Manny could spend less on entertainment each month and put the money towards a new cell phone. b. Manny could pay the minimum monthly payments on his credit cards and put the money towards his car payment. c. Manny could spend less on food and clothes and put the money towards his credit card payment. d. Manny could cut his utlility costs and put the money towards buying a new house.

c. Manny could spend less on food and clothes and put the money towards his credit card payment.

Mark is measuring the size of his children's hands. His daughter's handspan is 7.38 inches, and his son's handspan is 16.05 centimeters. There are 2.54 centimeters in an inch. Which child's handspan is longer, and how many feet longer is it? a. Mark's son's handspan is 0.0662 feet longer than his daughter's. b. Mark's son's handspan is 0.856 feet longer than his daughter's. c. Mark's daughter's handspan is 0.0883 feet longer than his son's. d. Mark's daughter's handspan is 0.225 feet longer than his son's.

c. Mark's daughter's handspan is 0.0883 feet longer than his son's.

Arderi Air Conditioning sells one primary model of air conditioner. Each unit of this model costs them $61.25 to produce, but it sells for $142.50 apiece. Arderi Air Conditioning employs three salespeople, each of whom earns a different commission per unit sold, as shown on the following table. Salesperson Commission/Sale Mary $36.25 Jay $28.50 Abby $25.75 Last month, Arderi Air Conditioning had a total fixed overhead cost of $7,622.25. It is known that one salesperson sold 51 units, one salesperson sold 43 units, and one salesperson sold 54 units. Which arrangement of sales would cause Arderi Air Conditioning to break even? a. Mary sells 54 units; Jay sells 51 units; Abby sells 43 units b. Mary sells 54 units; Jay sells 43 units; Abby sells 51 units c. Mary sells 43 units; Jay sells 51 units; Abby sells 54 units d. Mary sells 43 units; Jay sells 54 units; Abby sells 51 units

c. Mary sells 43 units; Jay sells 51 units; Abby sells 54 units

Jasmine set up counters at four major intersections, keeping track of how many cars passed by each on a daily basis over the course of several days. Her findings are shown in the chart below. Which intersection had the greatest number of increases in traffic from day to day? a. Huffman b. Price c. Mason d. Pearl

c. Mason

What is the difference between microeconomics and macroeconomics? a. Macroeconomics deals with abstract economic theories, while microeconomics applies those theories to the real world. b. Microeconomics looks at economic systems in a vacuum, while macroeconomics looks at how those systems interact with one another. c. Microeconomics deals with economics on the level of individuals or businesses, while macroeconomics deals with economics on the level of states or countries. d. Macroeconomics looks at the history of economics, while microeconomics is concerned with the present and the future.

c. Microeconomics deals with economics on the level of individuals or businesses, while macroeconomics deals with economics on the level of states or countries.

Rachel weighed her two cats, Tiger and Mittens. Tiger weighed 10.91 pounds, and Mittens weighed 178.08 ounces. Which cat is heavier, and how many pounds heavier is she? a. Tiger is 1.02 pounds heavier than Mittens. b. Tiger is 3.49 pounds heavier than Mittens. c. Mittens is 0.22 pounds heavier than Tiger. d. Mittens is 3.93 pounds heavier than Tiger.

c. Mittens is 0.22 pounds heavier than Tiger.

Sam is planning to start a pool cleaning business from his home, but has realized that he does not have enough money in savings or credit to pay for the set-up costs and first year of operation. Which of the following would not be a good way for Sam to get the money to start his business? a. Talk to a bank about a business loan for the missing funds. b. Talk to an investor about investing their money into his business. c. Purchase a $3,000 compact car instead of a truck for his business. d. Find a business partner to share the initial expenses.

c. Purchase a $3,000 compact car instead of a truck for his business.

The following chart shows a store's coat sales for two years. Identify the percent increase in sales of parkas and the percent increase in sales of raincoats. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.) a. Sales of parkas increased 65.2 percentage points faster than sales of raincoats. b. Sales of parkas increased 1.5 percentage points faster than sales of raincoats. c. Sales of raincoats increased 89.1 percentage points faster than sales of parkas. d. Sales of raincoats increased 49.0 percentage points faster than sales of parkas.

c. Sales of raincoats increased 89.1 percentage points faster than sales of parkas.

Lola Jean Ramos just turned 21 on June 19th and she loves to go dancing. From the given scenarios, which one describes the best way for Lola to create a 6 character password? a. She creates her password using her first name and age: lola21. b. She creates her password using her initials and birthdate: ljr619. c. She creates her password using the saying "Love to dance at 21": ltd@21. d. She creates her password using the saying "Lola Jean Ramos is 21": ljri21.

c. She creates her password using the saying "Love to dance at 21": ltd@21.

How do tariffs on imports affect a country's balance of trade? a. Tariffs raise government revenue. b. Tariffs ensure that all countries are traded with equally. c. Tariffs reduce the amount of imports a country makes. d. Tariffs increase the amount of money a country makes from imports.

c. Tariffs reduce the amount of imports a country makes.

In 1983, a winter hat cost $12.95. Today, a winter hat costs $24.50. If the CPI is 219, what is the percent relation of the actual price of a winter hat to the expected price? a. The actual price is 39.3% higher than the expected price. b. The actual price is 15.8% higher than the expected price. c. The actual price is 13.6% lower than the expected price. d. The actual price is 29.8% lower than the expected price.

c. The actual price is 13.6% lower than the expected price.

Paul paid $663 for a new freezer. He paid for the freezer with his credit card, which has an interest rate of 15.28% compounded monthly, and made monthly payments for five years until the freezer was paid off. He kept the freezer for seven years, and it used an average of $2.14 of electricity per week. Paul made no other purchases or payments with his credit card until the freezer was paid off. Between the interest and the electricity, which component of the lifetime cost of the freezer was greater, and how much greater was it? (Round all dollar values to the nearest cent.) a. The interest cost $106.60 more than the electricity. b. The interest cost $173.24 more than the electricity. c. The electricity cost $489.76 more than the interest. d. The electricity cost $115.96 more than the interest.

c. The electricity cost $489.76 more than the interest.

Say that you put the set of tiles shown below into a bag and conduct a series of trials in which you draw one tile randomly from the bag, record the color, and replace it. The table below shows the number of times in each set of trials that you drew a blue tile. Trial 1 2 3 4 5 # of Draws 54 36 80 22 75 # of Blues 18 11 20 4 32 Between the theoretical probability that you will draw a blue tile and the experimental probability that you will draw a blue tile, which is greater, and how much greater is it? Express all probabilities as percentages to two decimal places, and express differences by number of percentage points (for example, 12% is 2 percentage points greater than 10%). a. The theoretical probability is 2.78 percentage points greater than the experimental probability. b. The theoretical probability is 1.49 percentage points greater than the experimental probability. c. The experimental probability is 4.06 percentage points greater than the theoretical probability. d. The experimental probability is 2.17 percentage points greater than the theoretical probability.

c. The experimental probability is 4.06 percentage points greater than the theoretical probability.

Terry has been a returning contestant on a game show for the last seven weeks. In a contestant's first seven appearances on the show they have a chance to answer one question and win anywhere between $200-$900. On their eighth appearance they get a chance to answer a question worth $10,000. Given Terry's winnings in the following table, describe what would happen to the mean and median of the data set if she were to get the Week 8 question right. Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 $767 $477 $340 $680 $464 $207 $635 a. The mean increases by $1,696.30, the median increases by $556. b. The mean increases by $1,696.30, the median increases by $79. c. The mean increases by $1,186.25, the median increases by $79. d. The mean increases by $1,186.25, the median increases by $556.

c. The mean increases by $1,186.25, the median increases by $79.

Minneapolis, MN has a CPI of 173. Anchorage, AK has a CPI of 226. How does the purchasing power of someone in Minneapolis earning a salary of $42,500 compare to the purchasing power of someone in Anchorage earning a salary of $67,000? a. The person living in Minneapolis has $57.61/CPI more than the person in Anchorage. b. The person living in Minneapolis has $130.45/CPI more than the person in Anchorage. c. The person living in Anchorage has $50.80/CPI more than the person in Minneapolis. d. The person living in Anchorage has $90.82/CPI more than the person in Minneapolis.

c. The person living in Anchorage has $50.80/CPI more than the person in Minneapolis.

David has a credit card with an APR of 13.59% and a 30-day billing cycle. The table below details David's transactions with that credit card in the month of November. Date Amount ($) Transaction 11/1 1,998.11 Beginning balance 11/5 43.86 Purchase 11/16 225.00 Payment 11/23 61.21 Purchase Between the previous balance method and the daily balance method, which method of calculating David's November finance charge will result in a greater finance charge, and how much greater will it be? a. The daily balance method will have a finance charge $1.59 greater than the previous balance method. b. The daily balance method will have a finance charge $0.40 greater than the previous balance method. c. The previous balance method will have a finance charge $0.96 greater than the daily balance method. d. The previous balance method will have a finance charge $2.55 greater than the daily balance method.

c. The previous balance method will have a finance charge $0.96 greater than the daily balance method.

Richard's store sells pineapples and grapefruits. Pineapples originally cost $5.15 apiece, and grapefruits originally cost $2.25 apiece. Richard reduced the prices to $3.88 for a pineapple and $1.56 for a grapefruit. Which fruit had its price reduced by a greater percent, and how many percentage points greater was that reduction than the other? Round to two decimal places. (Express your answer in percentage points; for example, 15% is 3 percentage points greater than 12%.) a. The price of pineapples experienced a reduction 5.99 percentage points greater than the price of grapefruits. b. The price of pineapples experienced a reduction 19.90 percentage points greater than the price of grapefruits. c. The price of grapefruits experienced a reduction 6.01 percentage points greater than the price of pineapples. d. The price of grapefruits experienced a reduction 11.50 percentage points greater than the price of pineapples.

c. The price of grapefruits experienced a reduction 6.01 percentage points greater than the price of pineapples.

Sharon is considering trying to open a new business within the next few years, and she is doing research to determine what kind of businesses tend to be successful. So far, she has compiled two tables. The first shows the number of businesses of several types started in Sharon's city over the course of two years, and the number of those businesses which did not succeed and were forced to shut down within two years of opening. The second deals with separate records of successful new businesses, showing how much profit those new businesses turned over two years. Businesses on the boundary lines fall in the lower category. Type Food Retail Financial Service Opened 3,193 2,280 1,898 5,045 Closed 1,977 1,626 1,443 3,548 Up to $25k $25-50k $50-75k $75-100k Over $100k Food 945 623 601 258 114 Retail 813 548 347 188 63 Financial 316 244 195 86 51 Service 979 739 432 174 124 Using the tables as experimental data, determine whether it is more likely for a new retail establishment to succeed and earn profits of $50,000 or more, or whether it is more likely for a new service establishment to succeed and earn profits of $25,000 or less, and how much more likely the one situation is than the other. Express all probabilities as percentages to two decimal places, and express differences by number of percentage points (for example, 23% is 5 percentage points greater than 18%). a. The situation involving the retail establishment has a probability 0.99 percentage points higher than the situation involving the service establishment. b. The situation involving the retail establishment has a probability 4.91 percentage points higher than the situation involving the service establishment. c. The situation involving the service establishment has a probability 3.11 percentage points higher than the situation involving the retail establishment. d. The situation involving the service establishment has a probability 6.35 percentage points higher than the situation involving the retail establishment.

c. The situation involving the service establishment has a probability 3.11 percentage points higher than the situation involving the retail establishment.

Say that you put the set of tiles shown below into a bag and conduct a series of trials in which you draw one tile randomly from the bag, record the color, and replace it. The table below shows the number of times in each set of trials that you drew a blue tile. Trial 1 2 3 4 5 # of Draws 60 157 49 105 81 # of Blues 13 19 7 10 11 Between the theoretical probability that you will draw a blue tile and the experimental probability that you will draw a blue tile, which is greater, and how much greater is it? Express all probabilities as percentages to two decimal places, and express differences by number of percentage points (for example, 12% is 2 percentage points greater than 10%). a. The experimental probability is 6.67 percentage points greater than the theoretical probability. b. The experimental probability is 2.00 percentage points greater than the theoretical probability. c. The theoretical probability is 1.73 percentage points greater than the experimental probability. d. The theoretical probability is 0.77 percentage points greater than the experimental probability.

c. The theoretical probability is 1.73 percentage points greater than the experimental probability.

Zoe is taking the measurements of her lawn. Her lawn is 64.15 feet long and 22.70 meters wide. One foot is equivalent to 0.3048 meters. Which dimension of Zoe's lawn is longer, and how many yards longer is it? a. The length of the lawn is 3.15 yards longer than the width. b. The length of the lawn is 6.52 yards longer than the width. c. The width of the lawn is 3.44 yards longer than the length. d. The width of the lawn is 10.33 yards longer than the length.

c. The width of the lawn is 3.44 yards longer than the length.

Which answer choice does not name one of the three national credit reporting agencies (also called credit bureaus)? a. Equifax b. Experian c. TransAtlantic d. TransUnion

c. TransAtlantic

Mike understands the formula for temperature conversion, but is having difficulty imagining what various temperatures feel like. Which of these would be a good example to tell Mike what 37°C feels like? a. room temperature b. a hot pan c. body temperature d. a chilly autumn evening

c. body temperature

Which of the following terms best applies to a very fast increase in economic output which usually occurs before a peak? a. recession b. expansion c. boom d. recovery

c. boom

Craig runs a clothing store. He has decided to apply a markdown of 30% to one item in order to draw customers into the store, and he will apply a markup of 25% to three different items, which he hopes the customers will purchase after purchasing the marked-down item. He has chosen four candidates for this process: a leather jacket with an initial cost of $112.75, a blazer with an initial cost of $76.85, a pair of boots with an initial cost of $134.50, and a wristwatch with an initial price of $89.65. After applying the changes, the total cost of purchasing one of each item is $29.46 more than it was before applying the changes. Which item was marked down? a. wristwatch b. leather jacket c. boots d. blazer

c. boots

Pam is preparing for a trip to the Philippines. She has set aside money for everything that she needs to have, but there are several other items which, while not strictly necessary, she would like to take with her. The following table shows the money that Pam has already spent or allocated, with prices listed in Philippine pesos (P). Expense Cost (P) Transportation 10,804 Hostel 9,773 Food budget 11,229 Sightseeing budget 24,615 Pam's total budget is P 77,500.Which of the following additional items can Pam afford? I. brand-new walking shoes, P 6,865 II. ticket upgrade to first class, P 15,149 III. electronic Tagalog/English dictionary, P 13,255 a. only I b. I or III, but not both c. either I and III, or II d. any two, but not all three

c. either I and III, or II

Dave is comparing the circumferences of several trees in his yard. The oak tree is 0.539 meters in circumference, the ash tree has a circumference of 0.509 yards, the elm tree is 6281.70 millimeters around, and the poplar has a circumference of 0.000385 miles. There are 30.48 centimeters in a foot. Which tree has the greatest circumference? a. oak b. ash c. elm d. poplar

c. elm

Carol is planning a trip to South Africa. She plans to spend ten nights there, so she is investigating her options for lodging. She has made arrangements to stay at least part of the time at a hostel, which is her cheapest option. However, she would like to spend as many nights as she can in a private hotel. The hostel costs R 34 (34 rands) per night, and the hotel costs R 55. If Carol has a budget of 430 rands for lodging, how many nights can she afford to stay in the private hotel? a. six b. five c. four d. three

c. four

Which part of the decision-making process is directly related to brainstorming? a. defining the objective b. collecting relevant data c. generating possible options d. implementing and evaluating

c. generating possible options

Arrange the following units in order from smallest to greatest: ounce, pound, gram, kilogram a. ounce, gram, kilogram, pound b. ounce, gram, pound, kilogram c. gram, ounce, pound, kilogram d. gram, ounce, kilogram, pound

c. gram, ounce, pound, kilogram

Terrence is playing a game in which he will randomly select one square tile and one round tile from the tile sets shown below. Before he does so, he tries to guess which tiles he will draw. Of the four possible guesses listed below, which will give Terrence the highest chance of success? a. black or pink square tile and blue or green round tile b. yellow square tile and yellow round tile c. green, brown, or white square tile and black or white round tile d. red square tile and red or white round tile

c. green, brown, or white square tile and black or white round tile

Roy is planning a trip to Iceland. His plane ticket will cost kr 60,170 (60,170 Icelandic krónur), his lodging will cost kr 47,249, he needs kr 39,877 for food, and his Icelandic friend has suggested that he bring at least kr 41,054 for sightseeing and spending money. However, Roy has only kr 160,500 saved up. How much more will he need before he can go on his trip? a. kr 23,350 b. kr 26,673 c. kr 27,850 d. kr 28,741

c. kr 27,850

Molly records the interest earned in her savings account in the last 5 months. What are the mean, median, and mode of the data set? Month 1 Month 2 Month 3 Month 4 Month 5 0.24 0.42 0.37 0.38 0.24 a. mean: 0.37, median: 0.33, mode: 0.24 b. mean: 0.24, median: 0.37, mode: 0.33 c. mean: 0.33, median: 0.37, mode: 0.24 d. mean: 0.33, median: 0.37, mode: 0.42

c. mean: 0.33, median: 0.37, mode: 0.24

What are the mean, median, and mode of the following data set? 3/4 2/5 1/10 3/4 1/4 a. mean: 1/10, median: 1/10, mode: 3/4 b. mean: 9/20, median: 1/10, mode: 3/4 c. mean: 9/20, median: 2/5, mode: 3/4 d. mean: 2/5, median: 4/9, mode: 3/4

c. mean: 9/20, median: 2/5, mode: 3/4

Arrange the following units in order from smallest to greatest: centimeter, kilometer, meter, millimeter a. meter, centimeter, kilometer, millimeter b. kilometer, meter, centimeter, millimeter c. millimeter, centimeter, meter, kilometer d. millimeter, meter, centimeter, kilometer

c. millimeter, centimeter, meter, kilometer

Which answer choice best describes the debt snowball method? a. pay off credit cards in order of interest they carry, lowest interest first b. pay off credit cards in order of interest they carry, highest interest first c. pay off credit cards in order of balance amount, lowest balance first d. pay off credit cards in order of balance amount, highest balance first

c. pay off credit cards in order of balance amount, lowest balance first

Which of the following functions is most closely connected with the FDA? a. regulating markets and preventing monopolies b. enforcing truth in advertising c. protecting the public from unsafe medicines and foods d. using monetary policy to prevent inflation

c. protecting the public from unsafe medicines and foods

Which of the following phrases best summarizes Chapter 13 bankruptcy? a. discharge debt and keep property b. discharge debt and liquidate assets c. reorganize debt and keep property d. reorganize debt and liquidate assets

c. reorganize debt and keep property

Which of these is a consumer right recognized by the United Nations? a. right to equality b. right to openness c. right to education d. right to collaboration

c. right to education

Zoe filed for bankruptcy several years ago and now wants to take out a loan for $15,200. Since Zoe has a past bankruptcy, she will end up paying a higher interest rate. The loan term is four years, and her payments are $819.20 per month. With a better credit rating, her payments could have been $440.82 per month. How much more in interest will Zoe end up paying for her loan because of her bankruptcy? a. $4,540.56 b. $15,135.20 c. $23,346.24 d. $18,162.24

d. $18,162.24

Korey's comic book store has been up and running for 4 years. Korey feels that his store has been successful and is considering moving to a larger property to allow for greater inventory and customer opportunities in his business. He would like investors to cover the cost of his expansion. The profits of Korey's comic book store for its first four years are outlined below. According to this information, what would be the best estimate for Korey to quote as expected profits in the next year in his new business plan? Year Net Profits 1 $14,250.00 2 $15,390.00 3 $16,621.20 4 $17,950.90 5 a. $20,550.19 b. $19,090.90 c. $19,280.60 d. $19,386.97

d. $19,386.97

Marcia has two credit cards and would like to consolidate the two balances into one balance on the card with the lower interest rate. The table below shows the information about the two credit cards Marcia currently uses. Card A Card B Amount $1,879.58 $861.00 APR 14% 10% Monthly Payment $43.73 $18.29 After 5 years, how much will Marcia have saved in interest by consolidating the two balances? a. $1,526.40 b. $2,422.80 c. $105.00 d. $227.40

d. $227.40

Suppose that Ireland has placed a tariff of 12% on its exports and a tariff of 21% on its imports. If Ireland has tariff revenue worth (equivalent US dollars) $9,148,200 and a balance of trade of $7,100,000, what are its exports and imports worth? a. $950,416 in imports, $8,050,416 in exports b. $3,145,984 in imports, $10,245,984 in exports c. $1,921,122 in imports, $9,021,122 in exports d. $25,140,000 in imports, $32,240,000 in exports

d. $25,140,000 in imports, $32,240,000 in exports

Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange rate between the US dollar and the Uruguayan peso is 1:19.924. The currency exchange agent Horace is using requires that a 5% surcharge be paid when converting currency. Taking the surcharge into account, how many US dollars will it take Horace to get 5,000 pesos? Round to the nearest cent. a. $237.45 b. $249.05 c. $250.95 d. $263.50

d. $263.50

Bloro Appliances is pushing a new model of dishwasher. It costs Bloro $71.22 to put each dishwasher on the sales floor, but they can sell the dishwashers for $285.50 apiece. Bloro has three primary salespeople, each of whom earns a different commission per dishwasher sold. Their sales data for the past six months is shown below. Salesperson Sold Commission/Sale Rick 114 $47.50 Carl 176 $62.75 Lee 96 $51.35 In order to stock the dishwashers, Bloro Appliances had to sign a contract which included costs of $15,975. How much profit did Bloro Appliances gain from sales of these dishwashers over the past six months? a. $72,839.40 b. $66,737.08 c. $61,320.68 d. $45,348.48

d. $45,348.48

Kevin is calculating his expenses for his planned trip to Colombia. He has a total budget of $2,106,559 (2,106,559 Colombian pesos) for this trip. If his lodging will cost him $313,597, his plane ticket will cost him $891,922, a Spanish/English phrasebook costs him $91,438, and he has allocated $348,792 for food, how much does he have remaining for spending money and other miscellaneous expenses? a. $1,645,749 b. $1,104,496 c. $476,839 d. $460,810

d. $460,810

Frank has four different credit cards, the balances and interest information of which are outlined in the table below. If Frank budgets to pay off all four credit cards in 24 months, what will his total monthly credit card payment be? Credit Card Balance APR A $2,380 19% B $4,500 15% C $1,580 17.50% D $900 21% a. $218.19 b. $241.72 c. $390.00 d. $462.91

d. $462.91

Nellie has a bankruptcy on her credit report and therefore pays higher interest rates on her current loans. She calculates that the extra money she pays in additional interest each year, if invested at the rate of 3% for 5 years, could earn her simple interest totaling $114. Approximately how much does Nellie pay in additional interest each year? a. $171 b. $190 c. $342 d. $760

d. $760

Douglas has a credit card with an interest rate of 11.05%, compounded monthly. He used his credit card to buy a new sofa, which cost $670 before the sales tax of 7.94%. Douglas paid off his balance by making equal monthly payments for three years. Assuming that he had no other purchases on his credit card, how much did Douglas pay in total for the sofa? (Round all dollar values to the nearest cent.) a. $1,005.93 b. $790.20 c. $723.20 d. $852.84

d. $852.84

Gareth selected a tile randomly from the set shown below. What is the probability that he selected a yellow tile or a tile with an odd number? a. 7/240 b. 11/20 c. 8/15 d. 19/30

d. 19/30

The following chart shows a store's records of sales of stuffed toys over two months. If the trend shown in these graphs stays constant, what percent of the market will teddy bears occupy in November? (Round your answer to the nearest tenth.) a. 24.8% b. 23.4% c. 22.5% d. 20.7%

d. 20.7%

Verona goes to a business that offers tax refund anticipation loans because she really wants to get her money right now and not wait. They calculate her refund to be $985 and charge her $130 in fees for the loan. If the term on her loan is 15 days, what is the annual percentage rate on her loan? a. 130% b. 184% c. 317% d. 321%

d. 321%

Melissa used her credit card to buy a $745 refrigerator. She kept the refrigerator for exactly nine years, during which time it consumed an average of $0.19 of electricity every day. Melissa's credit card has an APR of 16.84%, compounded monthly. Melissa paid off her refrigerator by making identical monthly payments for four years. If she made no other purchases with her card, what percentage of the lifetime cost of the refrigerator did the electricity make up? (Assume that two of the years were leap years, and round all dollar values to the nearest cent.) a. 59.17% b. 18.48% c. 66.99% d. 37.77%

d. 37.77%

Jun, who lives in the United States, is on a trip to South America. He is going first to Argentina, where the currency is the Argentine peso ($), then to Bolivia, where the currency is the Bolivian boliviano (Bs.). As he is traveling from Argentina to Bolivia, he finds that he has the equivalent of US $671 in pesos, which he wishes to convert to bolivianos. If, at the time of Jun's exchange, the exchange rate of the US dollar to the Argentine peso is 1:3.8056 and the exchange rate of the Argentine peso to the Bolivian boliviano is 1:1.8903, how many bolivianos does Jun have? Round all currencies to two decimal places. a. 93.28 Bs. b. 1,268.39 Bs. c. 2,553.56 Bs. d. 4,826.99 Bs.

d. 4,826.99 Bs.

Trudy's monthly expenses are outlined in the chart below. Trudy's job pays her $36,000 annually. Determine Trudy's DTI (debt-to-income) ratio. Trudy's Debt and Income Income: $36,000 (annually) Rent: $695 (monthly) Car Payment $265 (monthly) Student Loan $200 (monthly) Credit Cards $160 (monthly) a. 28% b. 35% c. 37% d. 44%

d. 44%

Jim had a very good quarter at his car lot with net sales reaching just over $456,000. This created a net income of $195,000. If Jim's operating expenses last quarter were $23,000, what was his gross profit margin? a. 5.0% b. 37.7% c. 42.8% d. 47.8%

d. 47.8%

Sam's Swimming Pool Cleaning has a annual net income of $46,900. Sam charges $25 per week for each of his customers for 52 weeks. His annual operating expenses, including labor and supplies, are $48,000. How many customers does Sam's Swimming Pool Cleaning have? a. 21 b. 38 c. 44 d. 73

d. 73

A chicken farmer can produce one crate of eggs at a cost of $9.86, and can sell that crate for $34.24. If the farmer has a starting overhead cost of $7,312, not including production costs, how many crates must be sold in order to realize a profit of $11,300, to the nearest crate? a. 164 b. 330 c. 463 d. 763

d. 763

What is a secure line of credit? a. A line of credit offered only to individuals with excellent credit ratings. b. A line of credit offered to a business or corporation. c. A line of credit backed by the government. d. A line of credit backed by collateral.

d. A line of credit backed by collateral.

One of Rachel's duties as a loan officer is to review the credit scores of loan applicants. The scores of several such applicants can be seen in the table below. Name Experian Equifax TransUnion Leslie 775 803 675 Pat 668 821 774 Sam 706 720 732 Alex 739 816 799 Based on each applicant's median credit score, to which client is Rachel likely to offer the best interest rates? a. Leslie b. Pat c. Sam d. Alex

d. Alex

Jason's credit card has an APR of 17.02% and a 30-day billling cycle. The following table details Jason's transactions with that card in the month of June. Date Amount ($) Transaction 6/1 746.28 Beginning balance 6/9 140.00 Payment 6/15 28.76 Payment 6/18 69.49 Purchase Between the adjusted balance method and the daily balance method, which method of computing Jason's June finance charge will result in a greater finance charge, and how much greater will it be? a. The daily balance method will have a finance charge $1.02 greater than the adjusted balance method. b. The daily balance method will have a finance charge $0.03 greater than the adjusted balance method. c. The adjusted balance method will have a finance charge $2.36 greater than the daily balance method. d. The adjusted balance method will have a finance charge $1.37 greater than the daily balance method.

d. April 20th

Michael has a credit card with an APR of 15.33%. It computes finance charges using the daily balance method and a 30-day billing cycle. On April 1st, Michael had a balance of $822.05. Sometime in April, he made a purchase of $77.19. This was the only purchase he made on this card in April, and he made no payments. If Michael's finance charge for April was $10.71, on which day did he make the purchase? a. April 5th b. April 10th c. April 15th d. April 20th

d. April 20th

You are planning to buy one of two brands of sofas, which you hope to use over the next twenty years. Brand J costs $975 and lasts for about twenty years. Brand K costs $265 and lasts for about five years, so you will need to buy four Brand K sofas to equal one Brand J sofa. In either case, you plan to pay for your sofa using your credit card, which has an interest rate of 14.55%, compounded monthly. You can pay off a Brand J sofa with eight years of monthly payments, and you can pay off a Brand K sofa with three years of monthly payments. Assuming that you make no other purchases on your credit card, over twenty years, which brand will be cheaper, and how much cheaper will it be? (Round all dollar values to the nearest cent.) a. Brand J will be $591.36 cheaper than Brand K. b. Brand J will be $85.00 cheaper than Brand K. c. Brand K will be $1,132.23 cheaper than Brand J. d. Brand K will be $340.32 cheaper than Brand J.

d. Brand K will be $340.32 cheaper than Brand J.

The following table details the working populations, income tax rates, and average salary (in equivalent US dollars) for Peru and Chile. Country Workforce Average Salary ($) Income Tax Rate Peru 10,618,704 8,714 24.1% Chile 7,210,595 14,622 31.4% Based on the information in the table, how do the annual tax revenues of Peru and Chile compare to one another? a. Peru collects $294,980 more than Chile. b. Peru collects $63,408,109 more than Chile. c. Chile collects $12,901,933,434 more than Peru. d. Chile collects $10,805,998,234 more than Peru.

d. Chile collects $10,805,998,234 more than Peru.

Tim would like to use his income tax return to pay off one of his four credit cards. His previous plan was to pay off all four credit cards in the same timeline of 36 months. He wants to eliminate the card that is charging him the most interest on a monthly basis. The chart below outlines Tim's four credit cards, their balances, and their APRs. Which credit card should Tim use his tax return to pay off? a. A b. B c. C d. D

d. D

Put the following items in order from most expensive to least expensive. Item Base Price Change Direction Toaster $23.35 36% Markup DVD $20.36 66% Markup Headphones $69.09 56% Markdown Jeans $55.08 41% Markdown a. headphones, jeans. toaster, DVD b. headphones, DVD, toaster, jeans c. DVD, toaster, headphones, jeans d. DVD, jeans, toaster, headphones

d. DVD, jeans, toaster, headphones

Eli is a loan officer. He determines his clients' eligibility for loans and for good interest rates by using their credit scores. The scores of several clients are shown in the following table. Name Experian Equifax TransUnion Roy 750 792 661 Dirk 771 707 755 Haley 643 642 770 Valerie 646 773 762 Help Eli evaluate his applicants based on their mean and median credit scores. a. Valerie has the highest mean score, but Roy has the highest median score. b. Dirk has the highest mean score and the highest median score. c. Roy has the highest mean score, but Valerie has the highest median score. d. Dirk has the highest mean score, but Valerie has the highest median score.

d. Dirk has the highest mean score, but Valerie has the highest median score.

Hector is on a trip to Japan. The table below outlines some of the fun things he would like to see and do while on his trip, as well as their estimated costs, either in US dollars ($) or Japanese yen (¥). Hector has $575 budgeted for expenses like this. Item Cost Currency Kabuki performance 74.95 $ Kaiseki dinner 8,745 ¥ Shopping at Akihabara 262.49 $ Onsen visit 6,811 ¥ Museum visit 2,423 ¥ Hector would also like to see a professional sumo tournament while he is there, which would cost him ¥5,488. If the conversion rate of US dollars to Japanese yen is 1:94.153 at the time of Hector's trip, how will this affect his budget? a. Hector can see the sumo tournament and have about $322 left over. b. Hector can see the sumo tournament and have about $86 left over. c. Hector has exactly enough left in his budget to see the sumo tournament. d. Hector cannot afford to see the sumo tournament, because it would put him over budget by almost $12.

d. Hector cannot afford to see the sumo tournament, because it would put him over budget by almost $12.

Which of the following is not a question college students find themselves asking when considering the costs of school during the recession? a. How will I pay my tuition? b. What should my major be? c. What school should I attend? d. How often should I go to class?

d. How often should I go to class?

Of the following statements, which one or ones indicate possible effects of a low credit score? I. You will have a difficult time qualifying for loans. II. Any loans you take out will be relatively short-term. III. You will have to pay higher than average interest rates. a. I only b. I and II c. III only d. I and III

d. I and III

From the statements below, identify the way or ways in which making only minimum monthly payments on a long-term credit purchase can be a disadvantage. I. It is illegal to make only the minimum payments for more than one year. II. Repeatedly making minimum payments harms your credit score. III. The total cost is higher if the length of the debt is longer. a. I and II b. II only c. I and III d. II and III

d. II and III

The two tables below show the success rates of several groups of businesses in a certain city. The first shows the number of businesses of several types started in Sharon's city over the course of two years, and the number of those businesses which did not succeed and were forced to shut down within two years of opening. The second deals with separate records of successful new businesses, showing how much profit those new businesses turned over two years. Businesses on the boundary lines fall in the lower category. Type Food Retail Financial Service Opened 3,193 2,280 1,898 5,045 Closed 1,977 1,626 1,443 3,548 Up to $25k $25-50k $50-75k $75-100k Over $100k Food 945 623 601 258 114 Retail 813 548 347 188 63 Financial 316 244 195 86 51 Service 979 739 432 174 124 Using the tables as experimental data, determine which of the following situations have a probability of at least 15.00%. I. a food establishment succeeding and earning $50,000 or more II. a service establishment succeeding and earning between $25,000 and $75,000 III. a retail establishment succeeding and earning no more than $50,000 a. I only b. I and II c. II and III d. III only

d. III only

Which of the following is a reason people sometimes use mean or median to misrepresent the "average" of a set of data? a. In many data sets, the mean and median are always similar. b. In most data sets, the mean and median are always different. c. The median is meaningless but is often confused with the mean. d. In data sets with outliers, either the mean or median can be used to make the data set appear more favorable to their agenda.

d. In data sets with outliers, either the mean or median can be used to make the data set appear more favorable to their agenda.

You are a loan officer trying to decide which clients deserve your best rates. The table below shows the credit scores of several loan applicants. Name Experian Equifax TransUnion Kellin 720 783 733 Natasha 699 684 784 Edward 789 658 782 Lisa 810 679 792 Based on each applicant's median credit score, who deserves your best interest rates? a. Kellin b. Natasha c. Edward d. Lisa

d. Lisa

Which of the following statements best describes the difference between markup and margin? a. Markup is a term used to describe profit while margin is a term used to describe loss. b. Markup is a term used to describe loss while margin is a term used to describe profit. c. Markup relates profit to selling price while margin relates profit to cost. d. Markup relates profit to cost while margin relates profit to selling price.

d. Markup relates profit to cost while margin relates profit to selling price.

At the beginning of January, Kesia Records paid $148,950 to acquire the exclusive rights to a new album. It costs them $1.13 to print a copy of this album, which they can sell for $9.75. The following chart shows the sales of that record, along with the overhead expenses of running a record studio, not counting production costs. Month Albums Sold Expenses Jan. 5,486 $27,714 Feb. 8,191 $21,689 Mar. 4,796 $25,195 Apr. 7,490 $28,766 May 6,272 $24,604 Jun. 5,131 $29,040 In whch month did Kesia Records first break even? a. January b. March c. April d. May

d. May

Which economic system has no government involvement in the market? a. capitalism b. communism c. socialism d. No economic system is free from government involvement.

d. No economic system is free from government involvement.

Dynatashia has a list of items she needs to buy at the store. She has written down the items and the advertised prices as shown: Hamburger - $3.99 per pound Hamburger buns - $1.29 2-liter soda - 3 for $2.00 Dynatashia buys 1.5 pounds of hamburger, 1 package of buns and 3 of the 2-liter bottles of soda. Her receipt is shown below. 2-ltr soda 2@3/$2 $1.34 Hambrg 1.5 [email protected] $5.99 Hbuns [email protected] $1.69 2-ltr soda 1@3/$2 $0.67 Determine if Dynatashia's receipt is correct. a. Yes, Dynatashia's receipt is correct. b. No, Dynatashia paid too much for soda. c. No, Dynatashia paid too much for hamburger. d. No, Dynatashia paid too much for buns.

d. No, Dynatashia paid too much for buns.

Gina wants to pay off her credit card balances within 24 months. She is trying to decide if she should use her $2,000 in savings to pay off part of the balances or if she should transfer the balances to a new card with a low introductory rate. The new credit card has an introductory rate of 9% but charges a balance transfer fee of $75 for each balance transfer. Evaluate Gina's options and recommend the debt management plan that results in the lowest monthly payment. Credit Card A: $1,354 Credit Card B: $1,678 a. Pay off Credit Card B using the savings. Transfer the balance of Credit Card A to the new card. b. Pay off Credit Card A using the savings. Transfer the balance of Credit Card B to the new card. c. Pay off $1,000 from both Credit Card A and Credit Card B. Transfer the remaining balances from both cards to the new card. d. Pay off all of Credit Card B and $322 of Credit Card A. Transfer the remaining balance of Credit Card A to the new card.

d. Pay off all of Credit Card B and $322 of Credit Card A. Transfer the remaining balance of Credit Card A to the new card.

Rachel is going on a trip to Japan. The table below shows the cities she hopes to visit during her stay, as well as the amount of money she expects to spend in each one after taking into account food, shopping, transportation, and similar costs. All costs are given in Japanese yen (¥). City Cost (¥) Sendai 6,450 Nara 6,824 Sapporo 6,106 Tokyo 8,670 Hiroshima 5,768 Kyoto 7,611 Osaka 8,215 Because Rachel has only ¥36,000 to spend on this portion of her trip, she has decided that she must remove two cities from her itinerary. Which of the following is the cheapest pair of cities she can drop and still stay within her budget? a. Nara and Sapporo b. Hiroshima and Kyoto c. Osaka and Sendai d. Sapporo and Kyoto

d. Sapporo and Kyoto

The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound sterling to the Japanese yen over a period of six days. Day £:¥ Monday 1:148.176 Tuesday 1:144.209 Wednesday 1:149.890 Thursday 1:141.014 Friday 1:138.650 Saturday 1:143.007 If Grace traded ¥34,712 for £242.73, on what day did she make her exchange? a. Monday b. Tuesday c. Thursday d. Saturday

d. Saturday

What consumer protection agency is known by the acronym SEC? a. Safe Expansion Commission b. Society of Economical Consumers c. Stock Exchange Control d. Securities and Exchange Commission

d. Securities and Exchange Commission

Sam is planning to start a pool cleaning business from his home. He has decided on a radius of 30 miles from his home as a region of operation. After surveying the region of operation, he has found that 43% of homes in the region have a swimming pool. There are 36,248 homes in Sam's region of operation. Which of the following statements is the best reason to include in the market analysis component of Sam's business plan explaining why such a high percentage is good for Sam's business? a. 43% is 40% more than Sam needs. b. Only 57% of the home owners need to build a swimming pool. c. 43% of homes with a pool means 15,586 guaranteed customers, creating a solid customer base. d. Since pools are not often removed from a property, 43% of homes with a pool means a strong potential customer base now, with the existing home owners, and later, with new home owners.

d. Since pools are not often removed from a property, 43% of homes with a pool means a strong potential customer base now, with the existing home owners, and later, with new home owners.

Victor is measuring his bodily dimensions. His neck is 14.72 inches in circumference, and his forearm is 25.81 centimeters long. There are 2.54 centimeters in 1 inch. Which of Victor's measurements is longer, and by what percent? a. Victor's forearm is 75.34% longer than the circumference of his neck. b. Victor's forearm is 43.66% longer than the circumference of his neck. c. The circumference of Victor's neck is 57.03% longer than his forearm. d. The circumference of Victor's neck is 44.86% longer than his forearm.

d. The circumference of Victor's neck is 44.86% longer than his forearm.

Gina is weighing her lawn ornaments. Her flamingo weighs 4.168 pounds, and her garden gnome weighs 1.963 kilograms. There are 2.20462 pounds in a kilogram. Which ornament is heavier, and by what percent? a. The flamingo is 112.33% heavier than the gnome. b. The flamingo is 89.06% heavier than the gnome. c. The gnome is 45.36% heavier than the flamingo. d. The gnome is 3.84% heavier than the flamingo.

d. The gnome is 3.84% heavier than the flamingo.

The following chart represents the record low temperatures recorded in Phoenix for April-November. Select the answer below that best describes the mean and the median of the data set (round answers to the nearest tenth). a. The mean is 43.5°F, and the median is 43.6°F. b. The mean is 60.5°F, and the median is 60.5°F. c. The mean is 60°F, and the median is 61°F. d. The mean is 43.6°F, and the median is 43.5°F.

d. The mean is 43.6°F, and the median is 43.5°F.

Which of the following statements is not true? a. The median is not affected by outliers as much as the mean. b. The mode is the most frequently occuring value(s) in a data set. c. The best measure of central tendency depends on the data set. d. The mean is the middle value of a data set.

d. The mean is the middle value of a data set.

Consider the following graph, which shows a store's sales of fruit over the course of one week. How could this graph be misleading? a. The units of measurement are unclear. b. The data should be presented in increasing or decreasing order. c. There might be other kinds of fruit that the graph does not list. d. The scale on the y-axis is very small.

d. The scale on the y-axis is very small.

Perry is considering trying to open a new business within the next few years, and he is doing research to determine what kind of businesses tend to be successful. So far, he has compiled two tables. The first shows the number of businesses of several types started in Perry's city over the course of two years, and the number of those businesses which did not succeed and were forced to shut down within two years of opening. The second deals with separate records of successful new businesses, showing how much profit those new businesses turned over two years. Businesses on the boundary lines fall in the lower category. Type Food Retail Financial Service Opened 3,193 2,280 1,898 5,045 Closed 1,977 1,626 1,443 3,548 Up to $25k $25-50k $50-75k $75-100k Over $100k Food 945 623 601 258 114 Retail 813 548 347 188 63 Financial 316 244 195 86 51 Service 979 739 432 174 124 Using the tables as experimental data, determine whether it is more likely for a new food establishment to succeed and earn up to $25,000, or whether it is more likely for a new financial establishment to succeed and earn profits in either the $25,000-50,000 range or the $50,000-75,000 range, and how much more likely the one situation is than the other. Express all probabilities as percentages to two decimal places, and express differences by number of percentage points (for example, 23% is 5 percentage points greater than 18%). a. The situation involving the financial establishment has a probability 11.14 percentage points higher than the situation involving the food establishment. b. The situation involving the financial establishment has a probability 12.03 percentage points higher than the situation involving the food establishment. c. The situation involving the food establishment has a probability 2.08 percentage points higher than the situation involving the financial establishment. d. The situation involving the food establishment has a probability 2.36 percentage points higher than the situation involving the financial establishment.

d. The situation involving the food establishment has a probability 2.36 percentage points higher than the situation involving the financial establishment.

Consider the following graph, which details one bookstore's sales over the course of one day, divided by genre. By percent, how much greater do sales of horror books appear to be than sales of cookbooks? How much greater are they in reality? a. There appear to be 50% more sales of horror books than cookbooks, but there are really only about 20% more. b. There appear to be 40% more sales of horror books than cookbooks, but there are really only about 5% more. c. There appear to be 20% more sales of horror books than cookbooks, but there are really only about 10% more. d. There appear to be 25% more sales of horror books than cookbooks, but there are really only about 2% more.

d. There appear to be 25% more sales of horror books than cookbooks, but there are really only about 2% more.

Eileen just received her credit scores from the three major credit bureaus. Her Experian score is 824, her Equifax score is 840, and her TransUnion score is 832. What is the mode of Eileen's credit scores? (Round to the nearest whole point, if necessary.) a. 840 b. 832 c. 824 d. There is no mode in this group.

d. There is no mode in this group.

Use the following table to help answer the question below. State Single-Earner 2-Person 3-Person 4-Person Florida $41,226 $52,259 $58,574 $69,009 Georgia $40,691 $55,258 $61,104 $68,502 Missouri $39,645 $51,568 $60,371 $71,059 Texas $38,940 $55,859 $59,222 $66,381 Virginia $48,362 $65,122 $74,151 $85,939 A couple has two children. They live in Missouri and have a combined annual income of $96,730. The couple has a mortgage, a car loan, student loans, and credit card debt. When one of them loses employment, their monthly income is reduced by $2,100. If they felt the need to file for bankruptcy, which of the following statements is true? a. They could file for Chapter 7 bankruptcy and discharge all of their debt. b. They could file for Chapter 7 bankruptcy and discharge most of their debt. c. They could file for Chapter 13 bankruptcy and discharge all of their debt. d. They could file for Chapter 13 bankruptcy and discharge some of their debt.

d. They could file for Chapter 13 bankruptcy and discharge some of their debt.

Which of the following is not a disadvantage of using cash instead of credit? a. Using cash will not help you improve your credit rating. b. Using cash can be awkward when making large purchases. c. Using cash generally requires trips to the bank or ATM to keep cash on hand. d. Using cash can make it easier to over-spend since you know exactly how much you have.

d. Using cash can make it easier to over-spend since you know exactly how much you have.

Use the following table to help answer the question below. State Single-earner 2-person 3-person 4-person Florida $41,226 $52,259 $58,574 $69,009 Georgia $40,691 $55,258 $61,104 $68,502 Missouri $39,645 $51,568 $60,371 $71,059 Texas $38,940 $55,859 $59,222 $66,381 Virginia $48,362 $65,122 $74,151 $85,939 A family of 2 that has a monthly income of $4,650 is thinking about filing bankruptcy. In order to file for Chapter 7 bankruptcy, in which of the following states could the family be living? a. Georgia or Florida b. Florida or Texas c. Georgia or Virginia d. Virginia or Texas

d. Virginia or Texas

Jenny is planning an extended trip to Russia.The table below shows a list of cities which she would like to visit during her stay, along with the amount of money she anticipates needing to spend on travel, lodging, and similar expenses in each city. All costs are given in Russian rubles (RUB). City Cost (RUB) Izhevsk 4,721 Novosibirsk 4,870 Nizhny Novgorod 6,920 Moscow 5,485 Chelyabinsk 5,217 Saint Petersburg 5,960 Tolyatti 5,598 Yaroslavl 4,901 Even though Jenny wants to go to each of these cities, her budget is only RUB 33,000, so she recognizes that she must change her itinerary and choose not to visit some cities. Which of the following pairs of cities will not put Jenny back under budget if she drops them? a. Moscow and Chelyabinsk b. Izhevsk and Nizhny Novgorod c. Novosibirsk and Saint Petersburg d. Yaroslavl and Tolyatti

d. Yaroslavl and Tolyatti

Korey is planning to open a comic book store near his home. After completing a population survey for 3,520 homes in a 5 mile radius, Korey created the chart below to include in the market analysis section of his business plan. Which of the following is the best reason to include in the market analysis component of Korey's business plan explaining why such a high percentage of grade-school aged kids in the surveyed region is good for Korey's store? a. Younger kids like to read more than older kids. b. Younger kids are the only regular buyers of comic books. c. Younger kids often have allowance money that they are anxious to spend at comic stores. d. Younger kids who read comic books are likely to read them when they are older, which will create a current and future customer base.

d. Younger kids who read comic books are likely to read them when they are older, which will create a current and future customer base.

What is inflation? a. unemployment and the subsequent loss of production b. a slow, steady raise in average wages c. an increase in taxes d. a devaluing of money, resulting in a loss of purchasing power

d. a devaluing of money, resulting in a loss of purchasing power

Which of the following is not considered when calculating a country's GDP? a. goods produced by government agencies or commissions b. goods produced in the country by people who are not citizens c. services produced in the country d. goods produced by citizens of the country who are currently overseas

d. goods produced by citizens of the country who are currently overseas

Walter is a botanist. He often needs to weigh parts of plants, such as flowers or leaves. Which of the following units would likely make Walter's measurements easiest to read? a. tons b. pounds c. kilograms d. grams

d. grams

Leasing a car for a short time is usually cheaper than buying the same car since __________. a. insurance premiums are lower for leased cars b. leasing generally comes with a lower interest rate c. people who lease cars are considered more responsible than those who buy d. in leasing a car you pay only for the depreciation of the car rather than the total value

d. in leasing a car you pay only for the depreciation of the car rather than the total value

What are the median and mode of the data set? 48 25 34 46 29 27 46 a. median: 46, mode: 46 b. median: 34, mode: 36 c. median: 46, mode: 48 d. median: 34, mode: 46

d. median: 34, mode: 46

Which of the following types of credits would best describe credit cards? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured

d. open and unsecured

Which of the following is not one of the eight recognized consumer rights? a. right to safety b. right to choose c. right to be heard d. right to dignity

d. right to dignity

Which of the following is not a kind of consumer credit? a. installment credit b. personal loans c. service credit d. marginal credit

WRONG b. personal loans

Radwyn Horticulture is a company which focuses upon selling saplings. The company can grow a sapling for $15.45, and can sell that sapling for $36.50. There are three main salespeople at Radwyn Horticulture, each of whom earns a different commission per sapling sold, as shown in the table below. Salesperson Commission/Sale Lara $8.15 Ian $11.25 Ari $8.90 Radwyn Horticulture's fixed overhead expenses last month came to $7,699.45. It is known that one salesperson sold 191 saplings, one salesperson sold 245 saplings, and one salesperson sold 221 saplings. Which arrangement of sales would cause Radwyn Horticulture to break even? a. Lara sells 221 saplings; Ian sells 191 saplings; Ari sells 245 saplings b. Lara sells 221 saplings; Ian sells 245 saplings, Ari sells 191 saplings c. Lara sells 191 saplings; Ian sells 221 saplings, Ari sells 245 saplings d. Lara sells 191 saplings; Ian sells 245 saplings, Ari sells 221 saplings

a. Lara sells 221 saplings; Ian sells 191 saplings; Ari sells 245 saplings

Korey is planning to open a comic book store, but has determined that he does not have enough money to cover the cost of opening the store and running the store for the first year. Which of the following is not something Korey should consider to meet his operational costs? a. Rely on profits to cover missing costs. b. Take out a business loan to cover costs. c. Reduce initial inventory to lower opening set-up costs. d. Approach investors who would be willing to provide the missing funds.

a. Rely on profits to cover missing costs.

A restaurant manager wanted to get a better understanding of the tips her employees earn, so she decided to record the number of patrons her restaurant receives over the course of a week, as well as how many of those patrons left tips of at least 15%. The data she collected is in the table below. Day Mon Tue Wed Thu Fri Sat Sun Patrons 126 106 103 126 153 165 137 Tippers 82 87 93 68 91 83 64 Which day of the week has the lowest experimental probability of patrons tipping at least 15%? a. Sunday b. Saturday c. Friday d. Thursday

a. Sunday

Ann is planning a trip to Australia. The table below shows the cities she hopes to visit while she is there, as well as the amount of money she estimates that she will spend in each place as a result of lodging, eating, transport, and similar expenses. All costs are given in Australian dollars ($). City Cost ($) Toowoomba 161 Sunshine Coast 264 Newcastle 198 Perth 130 Sydney 224 Hobart 301 Bendigo 277 Ann has $1,265 budgeted for this portion of her trip. Which of the following possibilities represents the smallest portion she can cut out of her plans to stay under budget? a. Toowoomba and Perth b. Hobart c. Sydney and Newcastle d. Bendigo

a. Toowoomba and Perth

How is the daily balance method different from compounding interest daily? a. Unlike daily compound interest, the daily balance method only applies charges at the end of the month. b. The daily balance method rounds less frequently than daily compound interest. c. The daily balance method checks your balance at the end of each day, but daily compound interest checks at the beginning of each day. d. It is not different. The two processes are the same.

a. Unlike daily compound interest, the daily balance method only applies charges at the end of the month.

Sampson has a list of items that are on sale to pick up at the store. The sale items are the following: Ice cream - $1.89 Sweet corn - 3 for $1 Bananas - $0.49 per pound Sampson buys 1 carton of ice cream, 4 ears of corn, and 2.5 pounds of bananas. His receipt is shown below. Swt corn 2@3/$1 $0.67 Bananas 2.5 [email protected] $1.23 Ice crm [email protected] $2.49 Store discount for ice crm $0.60 -$0.60 Swt corn 2@3/$1 $0.67 Determine if Sampson's receipt is correct. a. Yes, Sampson's receipt is correct. b. No, Sampson paid too much for corn. c. No, Sampson paid too much for ice cream. d. No, Sampson paid too much for bananas.

a. Yes, Sampson's receipt is correct.

Which of the following can not be discharged by filing bankruptcy? a. car loan b. credit card debt c. mortgage d. student loan

a. car loan

Katie works as a waitress and records her monthly tips in the table shown below. If Katie decided not to work the month of November, how would her five month average compare to her six month average for monthly tips? June July August Septemper October November $133.45 $235.31 $239.45 $258.87 $298.45 $115.67 a. Her monthly average would have decreased by $19.57. b. Her monthly average would have increased by $19.57. c. Her monthly average would have increased by $2.07. d. Her monthly average would have decreased by $2.07.

b. Her monthly average would have increased by $19.57.

A sporting goods store is having a large sale event. Baseball bats are marked down by 42%, and hockey sticks are marked down by 29%. If baseball bats cost $21.46 after the markdown and hockey sticks cost $39.05 after the markdown, which item's price was reduced by more, and by how many more dollars was it reduced? Round all dollar values to the nearest cent. a. Hockey sticks had their prices reduced by $2.31 more than baseball bats. b. Hockey sticks had their prices reduced by $0.41 more than baseball bats. c. Baseball bats had their prices reduced by $4.22 more than hockey sticks. d. Baseball bats had their prices reduced by $0.59 more than hockey sticks.

b. Hockey sticks had their prices reduced by $0.41 more than baseball bats.

Will works for a company which produces both computer hardware and computer software. He is preparing for a meeting with his boss. He has been asked to compile sales data from a five-year period for both hardware and software sales. The data Will has gathered is in the table below, but it is scrambled and hard to read. Sales are in hundreds of thousands of dollars. "H" and "S" indicate hardware and software, respectively. Year 2003 2004 2002 2005 2002 2003 2004 2001 2005 2001 Sales 35.5 42.0 40.6 40.6 40.1 42.6 35.2 42.8 38.4 42.2 Div. S H H S S H S H H S In order to make this data more readable, Will has decided to put it into a graph. Which of the following graphs accurately represents this data? I. II. III.IV. a. I b. II c. III d. IV

b. II

Ashley runs a hardware store. She has decided to apply a markdown of 15% to one item in order to draw customers into the store, and she will apply a markup of 10% to three different items, which she hopes the customers will purchase after purchasing the marked-down item. She has chosen four candidates for this process: a power drill with an initial price of $51.49, a ceiling fan with an initial price of $64.79, a miniature circular saw with an initial price of $45.99, and a screwdriver set with an initial price of $37.39. After applying the changes, the total cost of purchasing one of each item is $3.77 more than it was before applying the changes. Which item was marked down? a. power drill b. ceiling fan c. circular saw d. screwdriver set

b. ceiling fan

Which of the following phrases best summarizes Chapter 7 bankruptcy? a. discharge debt and keep property b. discharge debt and liquidate assets c. reorganize debt and keep property d. reorganize debt and liquidate assets

b. discharge debt and liquidate assets

The two graphs shown below detail the results of two independent response polls studying favorite movie genres. Which genre had the same number of votes in each study? a. action b. horror c. mystery d. not enough information

b. horror

In general, reducing the number of periods (n) used to pay off credit card debt but keeping the present value (PV) and interest rate (i) the same will __________. a. reduce the monthly payment (P) b. increase the monthly payment (P) c. eliminate the monthly payment (P) d. have no effect on the monthly payment (P)

b. increase the monthly payment (P)

Dernea Gardening sells wheelbarrows. A wheelbarrow costs $6.94 to produce and it sells for $42.50. The company employs two salespeople, each of whom earns a different commission per wheelbarrow sold, as shown in the table below. The company's expenses last month, not counting production costs or commissions, totaled $524.24. How much profit did Dernea Gardening make from the sales of wheelbarrows last month? a. $3,570 b. $1,886 c. $1,684 d. $2,208

c. $1,684

Say that the economy is in a recession, which is causing the value of gold to fall by three percent. If you have gold reserves which were previously worth $8,590, how much value have you lost as a result of this recession, to the nearest cent? a. $590.00 b. $286.33 c. $257.70 d. $250.19

c. $257.70

A consumer charges a $2,530.16 purchase on a credit card. The card has a daily interest rate of 0.042%. If the balance is paid off at the end of 30 days, how much interest will the consumer pay? a. $0.32 b. $3.19 c. $31.88 d. $318.78

c. $31.88

Megan's TV had a base price of $189 and the sales tax was 6.88%. Over the next four years, the TV consumed an average of $0.06 of electricity every day. It also needed repairs twice, costing $29 each time. After four years, Megan got a new TV. What was the lifetime cost of Megan's TV? (Remember that one in every four years is a leap year.) a. $357.68 b. $318.66 c. $347.66 d. $351.65

c. $347.66

At Sam's Swimming Pool Cleaning, Sam charges each of his 85 customers $25 per week for 52 weeks of service every year. Since pool cleaning is a service, it has no cost other than labor and supplies, which cost Sam $48,000 each year. Calculate Sam's annual net income. a. $2,125 b. $4,420 c. $62,500 d. $110,500

c. $62,500

Sarah has a credit card balance of $9,450 with an APR of 17%. With her current budgeted payment, Sarah will be able to pay off this debt in 36 months. But Sarah's best friend just invited her to spend two months in Europe with her in 9 months. Wanting to have her credit card balance paid off before she goes to Europe, Sarah decides to take on a second job. What additional monthly income will Sarah need in order to pay off her credit card in 9 months? a. $336.92 b. $467.23 c. $788.85 d. $1125.77

c. $788.85

Below are the supply and demand equations for umbrellas in a certain market. In these equations, p represents price, D represents demand, and S represents supply. What is p at the point of equilibrium, to the nearest tenth? a. 19.3 b. 16.5 c. 13.4 d. 12.0

c. 13.4

The following graph details the number of performances of plays a Shakespearean acting company has performed over the past five years. If the company has performed Twelfth Night 25 times in the past five years, how many times have they performed in total? Round to the nearest whole performance, if necessary. a. 42 b. 50 c. 147 d. 221

c. 147

Patrick laid a pencil and a candle end-to-end. The pencil is 15.80 centimeters long, the candle is 0.303 yards long. There are 30.48 centimeters in a foot. How many inches long are the two items placed end-to-end? a. 0.48 in b. 16.10 in c. 17.13 in d. 43.51 in

c. 17.13 in

In 1983, a pair of jeans cost $66.35. If a pair of jeans costs $118.10 today, what is the CPI? a. 152 b. 156 c. 178 d. 184

c. 178

Which of the following is a pair of events which are mutually exclusive? a. rolling a 4 on a six-sided die and on a four-sided die b. making rice and making corn c. sleeping in late and waking up early d. going to work and riding the bus

c. sleeping in late and waking up early

Say that Spain has a working population of 20,081,537 people, and that the average yearly salary is €36,238. How much tax revenue would the Spanish government generate every year with a 41.15% income tax rate, to the nearest euro? a. €1,027,169,352,413 b. €428,260,123,198 c. €299,454,614,607 d. €298,515,162,576

c. €299,454,614,607

Say that the economy is in an expansion, causing wages to increase by six percent. If you previously received a monthly salary of $1,375.00, what will your new monthly salary be? Round all dollar values to the nearest cent. a. $2,365.00 b. $1,604.17 c. $1,462.77 d. $1,457.50

d. $1,457.50

A microwave oven costs $124.85 before it is marked down. If it is marked down by 63%, what is its new price, to the nearest cent? a. $78.66 b. $61.85 c. $58.68 d. $46.19

d. $46.19

A plant nursery is having a sale. Potted begonias are marked down 27%, and tomato seedlings are marked down 35%. If you pay $6.57 each for two potted begonias and $2.60 each for three tomato seedlings, how much did you save? a. $3.83 b. $5.31 c. $6.92 d. $9.06

d. $9.06

Judy needs to take out a personal loan for $2,500 for tuition assistance. Her bank has offered her one of the four loan packages outlined in the chart below. Determine which of the four loans will be cheapest for Judy in the long run. All interest rates are compounded monthly. Loan Duration (Months) Interest Rate A 12 9.50% B 24 8.75% C 36 7.75% D 48 6.60% a. loan A b. loan B c. loan C d. loan D

a. loan A

The following formula is used to calculate the monthly payment on a personal loan. In this formula, n represents the _____ . a. number of periods over which interest is calculated on the loan b. number of applicants for the loan c. number of years it will take to pay the loan back d. number of dollars the loan is for

a. number of periods over which interest is calculated on the loan

Sebastian has just graduated after four years of university. He took out an unsubsidized Stafford loan worth $8,180 to help pay for his tuition. The loan has a duration of ten years. If the loan has an interest rate of 5.3%, compounded monthly, how much interest capitalization has occurred by the time he graduated? Round all dollar values to the nearest cent. a. $721.93 b. $842.25 c. $1,926.97 d. $1,734.24

c. $1,926.97

Bob is thinking about leasing a car. The lease comes with an interest rate of 8%. Determine the money factor that will be used to calculate Bob's payment. a. 0.00033 b. 0.00192 c. 0.00333 d. 0.01920

c. 0.00333

One difference between obtaining a car with a lease or a loan is that _____. a. a loan will not have any additional fees or payments that need to be considered while a lease comes with a handful of additional charges b. a lease will not have any additional fees or payments that need to be considered while a loan comes with a handful of additional charges c. a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees d. a loan finances the depreciated value of the car with related fees while a lease finances the total purchase price of the car

c. a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees

Cindy would like to borrow money from her bank to restore her collectible car. It will take $12,000 to fully restore the car. Cindy's bank offers secured loans at 89% of the collateral value. How much collateral does Cindy need to offer to get a loan big enough to allow her to fully restore her car? a. $3,100 b. $10,680.00 c. $12,000.00 d. $13,483.15

d. $13,483.15

Maria took out an unsubsidized Stafford loan of $6,925 to pay for college. She plans to graduate in 4 years. The loan had a duration of ten years and an interest rate of 5.0%, compounded monthly. By the time Maria graduates, how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization? Round all dollar values to the nearest cent. a. $1529.70 b. $1,384.00 c. $384.00 d. $144.90

d. $144.90

At the beginning of each of her four years in college, Miranda took out a new Stafford loan. Each loan had a principal of $5,500, an interest rate of 7.5% compounded monthly, and a duration of ten years. Miranda paid off each loan by making constant monthly payments, starting with when she graduated. All of the loans were subsidized. What is the total lifetime cost for Miranda to pay off her 4 loans? Round each loan's calculation to the nearest cent. a. $23,650.00 b. $29,481.08 c. $7,834.32 d. $31,337.27

d. $31,337.27

A couple finds that they are experiencing debt problems and decide to find a credit counseling agency. What are three (3) things that the couple should find out about an agency before they allow the agency to represent them?

Are there large up-front fees? Is the agency accredited? How much of each payment goes to the agency?

Explain why it is wise to memorize your social security number.

It is wise to memorize your social security number so that if it is necessary to put it on an application form of some sort, you know it offhand. Memorizing it also reduces the risk of losing the sheet of paper you may be carrying it on and losing it, thus having your identity stolen.

What are some ways in which long-term purchases can affect your credit score?

Long-term purchases can decrease your credit score because credit score is based on how close to the limit the balance is. Long-term purchases make the balance closer to the limit, thus decreasing credit score.

If an individual suspects their identity has been stolen they should report their concerns to the Federal Trade Commission.

T

Dwayne had a balance of $95.13 in his checking account on Monday morning. That day he used his debit card for the following transactions: Breakfast at the corner bagel shop: $8.53 Gas in the car: $28.60 Cable bill: $65.39 Oil change: $30.64 Dwayne's bank uses a balance system of debiting from highest to lowest. The bank will not return amounts up to a total of $50 in overdrafts, but they do charge a fee for each overdraft. How many overdraft fees will Dwayne incur? a. 1 b. 2 c. 3 d. 4

WRONG b. 2

A store's supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans? a. $4,500 b. $1,800 c. $1,200 d. $900

b. $1,800

The following chart shows a store?s records of coat sales over two years. If the trend shown in these graphs stays constant, what percent of the market will parkas occupy in 2008? (Round your answer to the nearest tenth.) a. 16.5% b. 19.0% c. 21.9% d. 35.7%

a. 16.5%

Hillary has just returned to the United States from a trip to northern Europe, where she visited Sweden and Finland. The table below shows some of the purchases and expenses she had before and during her trip, as well as their costs. The transactions took place in US dollars ($), euros (€), or Swedish krona (kr, plural kronor). Item Cost Currency Boots 601.84 kr Car rental 26.88 € Phrase book 20.41 € Plane ticket 877.62 $ Souvenirs 725.36 kr Guidebook 36.83 $ During Hillary's trip, the exchange rate of US dollars to euros was 1:0.7936, and the exchange rate of euros to Swedish kronor was 1:10.1069. How much did Hillary spend in total, measured in US dollars? Round all currency values to two decimal places. a. $1,139.51 b. $1,199.82 c. $1,248.93 d. $2,016.51

a. $1,139.51

Harry is saving for a vacation. He kept track of how much he saved each month over the last six months in the following table. What did Harry save per month on average? Sep Oct Nov Dec Jan Feb $145.00 $166.00 $204.00 $180.00 $70.00 $150.00 a. $152.50 b. $158.00 c. $915.00 d. $155.25

a. $152.50

Gareth has just remodeled his kitchen and wants to buy one of two stand-alone freezers. Consider the following table, which displays the prices, electricity costs, and lifespans of the two freezers he is considering: Brand Brand R Brand S Price $575 $98 Avg. Cost/Wk $3.17 $4.54 Lifespan 10 years 2 years No matter which brand he chooses, Gareth will pay for the freezer on his credit card, which has an APR of 9.31%, compounded monthly. It takes Gareth eighteen months to pay off a Brand S freezer and four years to pay off a Brand R freezer. Assuming that Gareth makes no other purchases or payments with his credit card, over the next ten years, which brand of freezer will have a lower lifetime cost, and how much lower will it be? (Round all dollar values to the nearest cent.) a. Brand R will be $548.18 cheaper than Brand S. b. Brand R will be $712.40 cheaper than Brand S. c. Brand S will be $85.00 cheaper than Brand R. d. Brand S will be $164.22 cheaper than Brand R.

a. Brand R will be $548.18 cheaper than Brand S.

Haley measured the distances between her house and two of her friends' houses. Ellen's house is 1.41 miles away from Haley's, and Dirk's house is 6,547 feet away from Haley's. Whose house is farther away from Haley's, and how many feet farther away is it, to the nearest whole foot? a. Ellen's house is 898 feet farther away than Dirk's. b. Ellen's house is 1,659 feet farther away than Dirk's. c. Dirk's house is 503 feet farther away than Ellen's. d. Dirk's house is 1,267 feet farther away than Ellen's.

a. Ellen's house is 898 feet farther away than Dirk's.

Which of the three following graphs display the same data? (county voter turnout) I. II. III. a. I and II b. I and III c. II and III d. I, II, and III

a. I and II

Which statement(s) most directly apply to communism? I. There is little or no private ownership. II. Businesses are operated for the benefit of the people as a whole. III. Individuals who take risks can gain great profits. a. I and II b. II only c. II and III d. I and III

a. I and II

In order to clear out room for new merchandise, James decided to mark down some of the items for sale in his electronics store. He marked down DVD players by 36%, and he marked down stereo tuners by 22%. If DVD players cost $41.60 after the markdown and stereo tuners cost $69.42 after the markdown, which item's price was reduced by more, and by how many dollars more was it reduced? Round all dollar values to the nearest cent. a. The DVD player's price was reduced by $3.82 more than the stereo tuner's price. b. The DVD player's price was reduced by $27.82 more than the stereo tuner's price. c. The stereo tuner's price was reduced by $0.29 more than the DVD player's price. d. The stereo tuner's price was reduced by $27.53 more than the DVD player's price.

a. The DVD player's price was reduced by $3.82 more than the stereo tuner's price.

In 1983, a microwave oven cost $78.75. Today, a microwave oven costs $92.66. If the CPI is 177, what is the relation of the actual price of a microwave oven to the expected price, to the nearest cent? a. The actual price is $46.73 lower than the expected price. b. The actual price is $5.59 lower than the expected price. c. The actual price is $13.91 higher than the expected price. d. The actual price is $71.35 higher than the expected price.

a. The actual price is $46.73 lower than the expected price.

A certain book is for sale in both Belize and Brazil. In Belize, it sells for 80.39 Belize dollars. In Brazil, it sells for 63.65 Brazilian reals. The exchange rate of US dollars to Belize dollars is 1:1.9246, and the exchange rate of US dollars to Brazilian reals is 1:1.7880. When converted into US dollars, which country sells the book at a more expensive price, and how much more expensive is it? Round all currency values to two decimal places. a. The book costs $6.17 more in Belize than in Brazil. b. The book costs $11.89 more in Brazil than in Belize. c. The book costs $16.74 more in Belize than in Brazil. d. The book costs the same amount in both countries.

a. The book costs $6.17 more in Belize than in Brazil.

Which of the following is not required by lenders and investors? a. master plan b. organization plan c. market analysis d. financial analysis

a. master plan

Use the following compound interest formula to complete the problem. Rodney owes $1,541.05 on his credit card. His card has an APR of 16.29%, compounded monthly. Assuming that he makes no payments and no purchases, how much will he owe after one year? a. $1,561.97 b. $1,811.70 c. $1,792.09 d. $1,541.05

b. $1,811.70

A raincoat costs $79.25 today. If a similar raincoat cost $52.48 in 1983, what is the CPI? a. 166 b. 151 c. 132 d. 127

b. 151

The following graph details the number of performances of plays a Shakespearean acting company has performed over the past five years. If the company has performed 147 times in the past five years, how many times have they performed Othello? Round to the nearest whole performance, if necessary. a. 51 b. 28 c. 19 d. 7

b. 28

Which of the following is not a disadvantage to cash advances on a credit card? a. Cash advances are similar to loans in that they need to be paid back with interest. b. Cash advances require a lot of paperwork and are generally difficult to get. c. Cash advances are often the last thing to be paid when paying off your credit card. d. Cash advances often come with an interest rate much higher than your credit card.

b. Cash advances require a lot of paperwork and are generally difficult to get.

While abroad in Cairo, Egypt, you want to visit three other cities: Damanhur, Alexandria, and Suez. The following table details the costs of traveling to and from each city. All costs are given in Egyptian pounds (EGP). Origin and Destination Cost (EGP) Cairo to Damanhur 153 Cairo to Alexandria 171 Cairo to Suez 130 Damanhur to Cairo 143 Damanhur to Alexandria 174 Damanhur to Suez 182 Alexandria to Cairo 167 Alexandria to Damanhur 192 Alexandria to Suez 144 Suez to Cairo 133 Suez to Damanhur 156 Suez to Aledandria 156 What is the cost of the most efficient route? You may visit the cities in any order, but you must begin and end in Cairo. a. EGP 589 b. EGP 604 c. EGP 614 d. EGP 621

b. EGP 604

Walter is planning a trip to Morocco. He is trying to decide which cities he would like to visit while he is there. The table below shows some possible cities Walter could visit, along with the amount of money he expects to spend on food, lodging, travel, and similar expenses for each city. All prices are given in Moroccan dirham (MAD). City Cost (MAD) Tangier 610 Casablanca 466 Agadir 950 Rabat 927 Oujda 683 Fes 478 Marrakech 965 Kenitra 778 Walter's original itinerary included trips to Marrakech, Fes, Kenitra, and Oujda, but because he only has a budget of MAD 2,500, he must alter his plans to be more affordable. Which of the following itinerary changes will allow Walter to stay within his budget? (Consider each option individually, rather than as a group.) I. Replace Kenitra with Tangier and Oujda with Casablanca. II. Drop Fes. III. Replace Marrakech with Casablanca. a. I and II b. II and III c. III only d. None of these will put Walter under budget.

b. II and III

Eric is comparing the credit scores of his friends. The scores he gathered are found in the table below. 588 838 691 818 846 725 605 732 750 Among this batch of credit scores, find whether the mean or the median is higher, and how much higher it is. (Round to the nearest whole point, if applicable.) a. The mean is 113 points higher than the median. b. The mean is 1 point higher than the median. c. The median is 15 points higher than the mean. d. The median is 8 points higher than the mean.

b. The mean is 1 point higher than the median.

Which of the following is not a benefit to using credit instead of cash? a. Using credit can help you build a good credit rating. b. Using credit allows you to make impulsive buys. c. Using credit makes it easier to track your spending than cash. d. Using credit offers a convenient source of funds in an emergency.

b. Using credit allows you to make impulsive buys.

You are considering making a major purchase on your credit card. You should ask yourself the following questions, except which answer choice? a. Would it cost me less if I came up with a different purchasing plan? b. What else can I purchase to reach my full credit limit? c. Will I receive any incentives from my credit card company for making this purchase? d. How much will my purchase really end up costing if I don't pay off the balance immediately?

b. What else can I purchase to reach my full credit limit?

Mikah buys a new DVD player. After 9 days, he sees the same player on sale at another store for considerably less than what he paid for his. Since he still has the receipt, he decides to return the DVD player, get his money back, and buy it at the cheaper price. When he tries to make the return, he is disappointed to find out that returns on electronics must be made within three days of purchase. Which of the following responsibilities did Mikah most likely not meet? a. check the receipt b. know the return policy c. know the warranty d. comparison shop

b. know the return policy

What are the mean and mode of the following data set? 59 16 57 46 58 21 36 41 23 64 20 66 40 51 28 46 a. mean: 43.5, mode: 46 b. mean: 42, mode: 46 c. mean: 43.5, mode: 42 d. mean: 46, mode: 42

b. mean: 42, mode: 46

Which measure of central tendency would be best to describe the distribution of hair colors at the mall? a. median b. mode c. mean d. none of the above

b. mode

Korey is planning to open a comic book store. When the store opens, he plans to be the only employee. As the business grows, he will extend his hours of operations and hire additional employees as necessary. In Korey's business plan, this information should be included in the _____ component. a. financial analysis b. organizational plan c. executive summary d. implementation plan

b. organizational plan

Rachel has developed a plan to start paying off her credit card debt, and has stopped making purchases with her credit card. She has a credit card balance of $1,120.87. Her card has an APR of 14.12%, compounded monthly, and has a minimum monthly payment of 3.15% of the total balance, which is calculated after the monthly interest. Rachel has decided to pay off her debt by making identical monthly payments over a period of two years. If she starts this month, how much greater will her first payment be than the minimum payment required? (Round final answer to the nearest dollar.) a. $17 b. $14 c. $19 d. $11

c. $19

Say that the economy is in a recession, causing vehicle prices to drop by eight percent. If your car was previously worth $25,295, what is it worth now, to the nearest dollar? a. $23,851 b. $23,421 c. $23,271 d. $22,133

c. $23,271

A certain company gives its salespeople a bonus every six months. This bonus is calculated by averaging (taking the mean of) the four middle monthly sales values (that is, ignoring the highest and lowest) from the six-month window, taking 12% of the result, and splitting it evenly among the salespeople. The graph below shows sales for the most recent bonus period. If there are five salespeople, how much money will each one receive, to the nearest dollar? a. $556 b. $525 c. $510 d. $486

c. $510

Jerry has a credit card debt of $15,600 that he would like to reduce by applying $8,500 of his inheritance money to the balance. In addition, he would like to modify his debt payment plan to pay off the remaining balance in 24 months rather than 60 months. His credit card has an APR of 18%. How much will these changes save Jerry in finance charges (interest)? a. $1,407.04 b. $3,302.59 c. $6,760.96 d. $8,168.40

c. $6,760.96

What is the total finance charge for a $4,250 loan at 13.25% interest compounded monthly for 24 months? a. $25.47 b. $202.55 c. $611.20 d. $4,861.20

c. $611.20

A roast chicken with a base price of $6.89 is marked up by 21%. What is the new price, to the nearest cent? a. $12.33 b. $9.97 c. $8.34 d. $7.10

c. $8.34

Jessica is planning a trip to South Africa. The following table shows some of her planned expenses for this trip, and whether these expenses are in US dollars ($) or South African rands (R). Item Cost Currency Guide book 216.41 R Walking shoes 702.33 R Passport 71.75 $ Car rental 996.78 R Plane ticket 3,741.85 R Hotel reservation 138.10 $ If the exchange rate of US dollars to South African rands is 1:7.4094, what is the current total of Jessica's budget, in US dollars? Round all currencies to two decimal places. a. $763.54 b. $791.86 c. $973.39 d. $1,001.71

c. $973.39

The following graph shows a bus's record of the number of passengers it picked up over the course of a day. How many people rode the bus over the course of the day? a. 75 b. 438 c. 570 d. 900

c. 570

The following graph shows the size of minnows that were caught over the course of a day. During which interval were the most minnows caught? a. early morning (0:00 - 6:00) b. late morning (6:00 - 12:00) c. afternoon (12:00 - 18:00) d. evening (18:00 - 0:00)

c. afternoon (12:00 - 18:00)

Which of these is not generally an option for lodging while traveling abroad? a. private hotels b. hostels c. foreign embassies d. rental properties

c. foreign embassies

A person who files bankruptcy ends up paying a 6% higher fixed interest rate on a 30-year home loan than a person who has not filed bankruptcy. The person who files bankruptcy pays a 12% interest rate on their home loan. If the loan amount is $150,000, how much more in total interest do they pay than the person who has not filed bankruptcy? a. $258,375.30 b. $643.59 c. $149,536.52 d. $231,693.52

d. $231,693.52

Andrew is on a 30-day billing cycle. His credit card has an APR of 16.60% and computes finance charges using the previous balance method. The table below shows transactions that Andrew made in March. Based on the information in the table, what will Andrew's March finance charge be? Date Amount ($) Transaction 3/1 1,794.30 Beginning balance 3/6 440.15 Purchase 3/9 35.65 Purchase 3/22 250.00 Payment 3/25 51.71 Purchase a. $46.07 b. $28.66 c. $21.36 d. $24.82

d. $24.82

A warning sign that a credit counseling agency may not be legitimate is when they promise to _____. a. work with creditors to come up with a reasonable payment plan for paying off debt b. help lower the monthly payments you must make to your creditors c. pay off your debts by lowering the interest rate that you pay on them d. settle your debts without it hurting your credit rating

d. settle your debts without it hurting your credit rating

Matt has four orange trees, one at each corner of his yard (northeast, northwest, southeast, and southwest). The following graph shows the fruit production of each tree over the course of several years. Which tree had the greatest number of increases in output from year to year? a. northeast b. northwest c. southeast d. southwest

d. southwest

Describe some of the characteristics of federal student loans.

Federal student loans are funded by the federal government. They usually offer a lower interest rate than private loans. Federal student loans are usually deferred until graduation, meaning that the student does not owe payments until after graduating.

Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral. His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost $4,750. Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his vacation as planned? a. $1,000.00 b. $1,362.50 c. $2,437.50 d. $2,800.00

c. $2,437.50

The following table shows a portion of a four-year amortization schedule. After twenty-five payments, how much of the principal has been paid off? a. $2,669.28 b. $10,353.25 c. $9,543.97 d. $12,213.25

c. $9,543.9

Why do interest rates on loans tend to be lower in a weak economy than in a strong one? a. A weak economy tends to have low inflation, so interest rates drop to match. b. Borrowers in a weak economy are less likely to default on their loans, so interest rates are correspondingly low. c. In a weak economy there is less demand for credit, so the price drops. d. The strength or weakness of an economy is determined by interest rates; low interest rates actually cause a weak economy.

c. In a weak economy there is less demand for credit, so the price drops.

Henry is at the end of a three-year lease for his car. His leasing company says that his car is currently worth $12,780, a 72% residual value. Determine the original MSRP of Henry's leased car. a. $9,201.60 b. $5,633.80 c. $17,750.00 d. $45,642.86

c. $17,750.00

Tamora has just graduated from college. When she entered college four years ago, she took out a $9,100 subsidized Stafford loan, which has a duration of ten years. The loan has an interest rate of 5.4%, compounded monthly. If Tamora makes monthly payments, how much interest will she have paid in total by the time the loan is paid off? Round all dollar values to the nearest cent. a. $2,697.20 b. $1,574.00 c. $5,534.00 d. $3,888.08

a. $2,697.20

Tyler is planning to buy a new car. He intends to trade in his existing car, a 2002 Chrysler Sebring in good condition. Using the table below, estimate how much Tyler's car is worth. a. $3,260 b. $2,920 c. $2,605 d. $3,188

a. $3,260

Viola took out a $8,470 Stafford loan at the beginning of her four-year college career. The loan has a duration of ten years and an interest rate of 7.5%, compounded monthly. How much more will Viola's monthly payment be if the loan is unsubsidized than if the loan is subsidized? Round all dollar values to the nearest cent. a. $35.05 b. $45.94 c. $96.96 d. $63.52

a. $35.05

Calculate the monthly lease payment for a 36-month lease on a car with a $29,000 MSRP, a 79% residual value, and a money factor of 0.00365. a. $358.64 b. $128.08 c. $169.17 d. $105.85

a. $358.64

Niki makes the same payment every two months to pay off his $61,600 loan. The loan has an interest rate of 9.84%, compounded every two months. If Niki pays off his loan after exactly eleven years, how much interest will he have paid in total? Round all dollar values to the nearest cent. a. $39,695.48 b. $10,294.26 c. $3,126.29 d. $39,467.12

a. $39,695.48

Renee is going to buy a new car that has a list price of $19,675. She will be responsible for $1,420 in vehicle registration fees, $85 in documentation fees, and 8.92% sales tax. She plans to trade in her current car, a 2002 Buick LeSabre in good condition, and finance the rest of the cost over four years at an interest rate of 11.34%, compounded monthly. If the dealer gives Renee 85% of the listed trade-in value for her car, what will her monthly payment be? Round all dollar values to the nearest cent. a. $521.96 b. $508.80 c. $518.80 d. $504.46

a. $521.96

Olivia has taken out a $13,100 unsubsidized Stafford loan to pay for her college education. She plans to graduate in four years. The loan has a duration of ten years and an interest rate of 7.6%, compounded monthly. By the time Olivia graduates, how much greater will the amount of interest capitalized be than the minimum amount that Olivia could pay to prevent interest capitalization? Round all dollar values to the nearest cent. a. $654.45 b. $477.27 c. $995.60 d. $354.22

a. $654.45

Sam would like to use his extensive stamp collection as collateral for a secured loan. Sam has documentation that says his stamp collection is worth $10,525.00. Sam's bank has a policy that permits loan officers to lend no more than 82.5% of the value of the collateral. What is the maximum loan amount Sam can get from his bank using his stamp collection as collateral? a. $8,683.13 b. $9,700.00 c. $10,525.00 d. $12,382.35

a. $8,683.13

Suzanne has purchased a car with a list price of $23,860. She traded in her previous car, which was a Dodge in good condition, and financed the rest of the cost for five years at a rate of 11.62%, compounded monthly. The dealer gave her 85% of the listed trade-in price for her car. She was also responsible for 8.11% sales tax, a $1,695 vehicle registration fee, and a $228 documentation fee. If Suzanne makes a monthly payment of $455.96, which of the following was her original car? a. 2004 Intrepid b. 2008 Neon c. 2005 Viper d. 2007 Dakota

a. 2004 Intrepid

Ursula took out an unsubsidized Stafford loan to help pay for her first of her four years at college. The loan had a principal of $6,400, an interest rate of 6.9% compounded monthly. After college, Ursula started making monthly payments over a 10 year period on her loan. What percentage of the total cost of the loan is the finance charge? a. 45.25% b. 27.91% c. 43.50% d. 82.66%

a. 45.25%

Which of the following statements explains the difference between a lease and a loan? a. At the end of a loan the car belongs to you, but at the end of a lease, the car still belongs to the lease company. b. At the end of a loan, the car still belongs to the lease company, but at the end of a lease the car belongs to you. c. A loan requires a large down payment at the beginning while a lease does not. d. A lease requires a large down payment at the beginning while a loan does not.

a. At the end of a loan the car belongs to you, but at the end of a lease, the car still belongs to the lease company.

RJ has two loans. Loan H has a nominal rate of 5.68%, compounded daily. Loan I has a nominal rate of 6.33%, compounded monthly. Which loan's effective rate had the greater increase, relative to its nominal rate, and how much greater is its increase than that of the other loan? a. Loan I's increase was 0.03 percentage points greater than Loan H's. b. Loan I's increase was 0.68 percentage points greater than Loan H's. c. Loan H's increase was 0.16 percentage points greater than Loan I's. d. Loan H's increase was 0.49 percentage points greater than Loan I's.

a. Loan I's increase was 0.03 percentage points greater than Loan H's.

Ricky is taking out a personal loan for $12,000 to remodel his kitchen. He would like the lowest monthly payment possible, even if it means a bigger finance charge in the end. His bank has offered him a loan at 13% interest for 36 months or 12% interest for 60 months, both of which are compounded monthly. Which of the following statements most accurately describes what Ricky should be thinking? a. More payments with the 60 month loan will give him the lowest monthly payment. b. Fewer payments with the 36 month loan will give him the lowest monthly payment. c. The 60 month loan comes with a bigger finance charge and, thus, a bigger monthly payment. d. The 36 month loan comes with a bigger finance charge and, thus, a bigger monthly payment.

a. More payments with the 60 month loan will give him the lowest monthly payment.

Why is the APR considered the most important factor to be mindful of in a car loan? a. The APR helps a customer determine the true cost of the loan, allowing them to compare many loans and choose the most advantageous one. b. The current national APR helps a consumer decide how much they want to spend on a car. c. The APR determines how many cars a dealership can sell. d. The APR of a loan is directly related to the quality of the associated car loan.

a. The APR helps a customer determine the true cost of the loan, allowing them to compare many loans and choose the most advantageous one.

Tim needs a new car while he attends college in the United States for the next three years. The car he would like has a MSRP of $15,000. A local dealer can get him a 3-year loan with a 7% interest rate if Tim can give them a $1,500 down payment. The same dealer offers the same car to lease with a money factor of 0.00271 and a residual value of 75%. The lease requires an additional fee of $1,250 to cover Tim's security deposit and the acquisition and documentation fees for the car. Tim is looking to drive the car home with the smallest initial out-of-pocket cost. Which of the following statements is true? a. The initial out-of-pocket cost is less for the lease. b. The initial out-of-pocket cost is less for the loan. c. The initial out-of-pocket cost is the same for the lease and loan. d. The initial out-of-pocket cost for a lease is not comparable to that of a loan.

a. The initial out-of-pocket cost is less for the lease.

In forming a contract, the "meeting of the minds" is _____. a. an agreement between all parties involved in the contract of the details of the contract. b. a formal meeting of the parties involved in a contract that may or may not result in a signed agreement. c. a phrase used to describe a verbal contract or a contract made without signatures from the parties involved. d. a mental exercise used by a person involved in a contract to try to guess the contract requests of the other parties and offer a compromise.

a. an agreement between all parties involved in the contract of the details of the contract.

Calculate the monthly payment for a loan of $7,500 with an 11% interest rate compounded monthly over a period of 5 years. a. $128.46 b. $163.07 c. $858.18 d. $1541.50

b. $163.07

Toby just graduated from four years of college. At the beginning of each year, he took out a Stafford loan with a principal of $6,125. Each loan had a duration of ten years and an interest rate of 5.3%, compounded monthly. All of the loans were subsidized. Toby plans to pay off each loan in monthly installments, starting from his graduation. What is the total lifetime cost for Toby to pay off his 4 loans? Round each loan's calculation to the nearest cent. a. $7,904.04 b. $31,616.16 c. $10,393.82 d. $36,490.25

b. $31,616.16

Valerie is going to purchase a new car. The car she wants has a list price of $32,495. Valerie is planning to make a down payment of $1,877. Furthermore, she plans to trade in her current car, which is a 2006 Hyundai Sonata in good condition. She will finance the rest of the cost by making monthly payments over five years. She can finance the cost at a rate of 8.64%, compounded monthly. She will also have to pay 8.23% sales tax, a $2,243 vehicle registration fee, and a $314 documentation fee. If the dealer gives Valerie 87.5% of the trade-in price on her car, listed below, approximately how much will Valerie pay in total for her new car? (Round all dollar values to the nearest cent, and consider the trade-in to be a reduction in the amount paid.) a. $37,385 b. $38,821 c. $38,287 d. $36,944

b. $38,821

The following table shows a portion of a five-year amortization schedule. What percent of the payments made were due to interest for the months shown? a. 30.9% b. 32.6% c. 62.5% d. 63.4%

b. 32.6%

The following statement is from the contract Peter signed with his Homeowner's Association (HOA). "Overnight parking on community streets is prohibited. For the purpose of this contract, 'overnight' will be defined as the hours between 11:00 p.m. and 4:00 a.m. The HOA will monitor overnight parking not less than once every calendar week with nightly patrols by community security. "In the event a car is found parked on community streets overnight and that ownership of the offending car can accurately be verified as a community homeowner, the homeowner will receive one (1) written warning asking him or her to correct the situation. A second and third infraction by the same homeowner, whether or not it is with the same car, will result in a monetary fine as permitted by CC&R guidelines and HOA bylaws. Further infractions (past 3) will result in monetary fines in addition to the towing of the car at the homeowner's expense." Because of the extremely low ground effects and body profile on his racing car, Peter is unable to drive his car off of the street and onto the driveway. He has parked on the street overnight for the past five weeks. He has received one written warning and one monetary fine from the HOA. What consequences should Peter expect after this week's security check? a. His car will be towed. b. He will receive another monetary fine. c. He will receive a monetary fine and his car will be towed. d. A "boot" will be place on his car to prevent him from driving it.

b. He will receive another monetary fine.

Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an interest rate of 7.1%, compounded monthly, and requires that the loan be paid off in five years. Bank N charges an interest rate of 7.8%, compounded monthly, and requires that the loan be paid off in four years. How would you recommend that Maria choose her loan? a. Bank M offers a better loan in every regard, so Maria should choose it over Bank N's. b. Maria should choose Bank M's loan if she cares more about lower monthly payments, and she should choose Bank N's loan if she cares more about the lowest lifetime cost. c. Maria should choose Bank N's loan if she cares more about lower monthly payments, and she should choose Bank M's loan if she cares more about the lowest lifetime cost. d. Bank N offers a better loan in every regard, so Maria should choose it over Bank M's.

b. Maria should choose Bank M's loan if she cares more about lower monthly payments, and she should choose Bank N's loan if she cares more about the lowest lifetime cost.

Yvette is considering taking out a loan with a principal of $16,200 from one of two banks. Bank F charges an interest rate of 5.7%, compounded monthly, and requires that the loan be paid off in eight years. Bank G charges an interest rate of 6.2%, compounded monthly, and requires that the loan be paid off in seven years. How would you recommend that Yvette choose her loan? a. Bank F offers a better loan in every regard, so Yvette should choose it over Bank G's. b. Yvette should choose Bank F's loan if she cares more about lower monthly payments, and she should choose Bank G's loan if she cares more about the lowest lifetime cost. c. Yvette should choose Bank G's loan if she cares more about lower monthly payments, and she should choose Bank F's loan if she cares more about the lowest lifetime cost. d. Bank G offers a better loan in every regard, so Yvette should choose it over Bank F's.

b. Yvette should choose Bank F's loan if she cares more about lower monthly payments, and she should choose Bank G's loan if she cares more about the lowest lifetime cost.

Determine the finance charge on an $8,000 loan with a monthly payment of $162.80 for 60 months. a. $29.47 b. $162.80 c. $1,768.00 d. $9,768.00

c. $1,768.00

The following table shows a portion of a three-year amortization schedule. Use the information in the table to decide which of the following statements is true. a. The payment amount changes each month. b.The amount applied to the principal is decreasing each month. c.The amount applied to the principal is increasing each month. d.The amount applied to interest is increasing each month.

c. The amount applied to the principal is increasing each month.

Which of the following would be a good argument to buy rather than lease? a. "Money is really tight. I need the lowest possible monthly payment." b. "It is very important for my image to drive the newest cars available." c. "I'm only going to need it for a few years before I move back to Great Britain." d. "I would prefer to walk out of the deal in the end with something to show for the money I put in."

d. "I would prefer to walk out of the deal in the end with something to show for the money I put in."

Terry has just purchased a new car, which had a list price of $16,825. She had to pay 7.19% sales tax, a $1,128 vehicle registration fee, and a $190 documentation fee. Terry traded in her previous vehicle, a 2003 Honda Element in good condition to use as a downpayment. The dealer paid full price for her trade in. She financed the rest of the cost over five years at an interest rate of 10.59%, compounded monthly. What is her principal payment per month? (Round all dollar values to the nearest cent.) a. $416.83 b. $190.00 c. $218.16 d. $274.20

d. $274.20

Helena has taken out a $9,300 unsubsidized Stafford loan to pay for her college education. She plans to graduate in four years. The loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. By the time Helena graduates, how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization? Round all dollar values to the nearest cent. a. $238.46 b. $496.00 c. $595.20 d. $324.33

d. $324.33

Determine the monthly payment for a 36 month lease on a $26,000 car with a residual of 71% and an interest rate of 7.5%. a. $104.87 b. $209.44 c. $273.08 d. $348.38

d. $348.38

In calculating the monthly payment for a loan with an 8.5% interest rate compounded monthly, what value should be used for i, the interest rate per period, as it appears in the following formula? a. 8.5 b. 0.71 c. 0.085 d. 0.0071

d. 0.0071

Tess is going to purchase a new car that has a list price of $29,190. She is planning on trading in her good-condition 2006 Dodge Dakota and financing the rest of the cost over four years, paying monthly. Her finance plan has an interest rate of 10.73%, compounded monthly. Tess will also be responsible for 7.14% sales tax, a $1,235 vehicle registration fee, and a $97 documentation fee. If the dealer gives Tess 75% of the listed trade-in price on her car, once the financing is paid off, what percent of the total amount paid over four years would be interest? (Consider the trade-in to be a reduction in the amount paid.) a. 21.39% b. 19.15% c. 23.43% d. 18.98%

d. 18.98%

Andrew is choosing between four loans. Loan P has a nominal rate of 10.393%, compounded daily. Loan Q has a nominal rate of 10.516%, compounded weekly. Loan R has a nominal rate of 10.676%, compounded monthly. Loan S has a nominal rate of 10.755%, compounded annually. Which loan will give Andrew the best effective interest rate? a. loan P b. loan Q c. loan R d. loan S

d. loan S

How does Truth-in-lending benefit consumers when shopping for a loan? a. Truth-in-lending allows consumers to be frank with the lenders and talk about very personal things. b. Truth-in-lending requires all lending institutions to eventually convert all of their loans to fixed interest rates. c. Truth-in-lending requires consumers to admit whether or not they can actually afford the loan they're applying for. d. Truth-in-lending allows consumers to know every cost that is associated with the loans they research and apply for, and helps them reach the optimal decision.

d.? Truth-in-lending allows consumers to know every cost that is associated with the loans they research and apply for, and helps them reach the optimal decision.