Rachael has a job assembling a certain car accessory
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Rachael has a job assembling a certain car accessory.
Last month she made a total of 424 items. Calculate her gross pay (in $) if she is paid on the following differential piecework schedule.
Pay Level 
Items produced 
Rate per Item 
1 
1–160 
$9.58 
2 
Over 160 
$11.41 
$
Inez wants to have $14,750 in 5 years. Use the present value formula to calculate how much Inez should invest now at 4% interest, compounded quarterly in order to reach her goal.
$11,800.00$12,080.30 $12,088.28$12,123.42
3.
Georgia bought outdoor furniture for a total purchase price of $2,050.75. State taxes were 5.75%. Find the amount of the sales tax. (Round your answer to the nearest cent.)
$97.65$111.51 $116.08$117.92
4.
Suppose you wish to have $11,000 in 13 years. Use the present value formula to find how much you should invest now (in $) at 6% interest compounded semiannually in order to meet your goal. (Round your answer to the nearest cent.)
$
5.
Ross is single with an adjusted gross income of $69,100, and he uses the standard deduction for single filers. After first finding his taxable income, calculate his tax liability (in $).
$
6.
Find the amount (in $) of interest and the maturity value of the loans. Use the formula
MV = P + I
to find the maturity value. (Round your answers to two decimal places.)
Principal 
Rate (%) 
Time 
Interest 
Maturity Value 

$185,000 
14

5 months 
$ 
$ 
7.
Suppose you bought a sofa for a total purchase price of $1,584.97. Sales tax was 4%. What was the amount of the sales tax (in $)? (Round your answer to the nearest cent.)
$
8.
The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 31 months. Find the amount of simple interest. (Round to the nearest cent.)
$1,445.00$1,866.46 $2,239.75$3,290.32
9.
Gina’s base pay rate is $14.25 per hour, with overtime pay of timeandahalf, and doubletime for holidays. Calculate her gross pay if she worked 4.5 holiday hours in addition to 39 hours Monday through Saturday. (Round your answer to the nearest cent.)
$619.88$651.94 $684.00$961.88
10.
Maria invests $4,200, at 6% interest, compounded quarterly for one year. Use Table 111 to calculate the annual percentage yield (APY) for her investment (as a %). Note: “Annual percentage yield” is also known as “effective interest rate.” (Round your answer to two decimal places.)
%
11.
A store manager obtained a loan of $35,000, at
6
3 
8 
%
interest, for 14 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent)
$2,231.25$2,603.13
$3,114.38$31,237.50
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