Banking
The formula used to calculate simple interest.
I = P x R x T
Terri buys a $1,455 drum set with a 35% down payment. How much is the down payment?
$509.25
Lynn works 43 hours at $9/hour. If she gets time-and-a-half for overtime, what is her hourly overtime rate?
$13.50
These are the two types of automobile insurance required by the state of Ohio.
Bodily Injury and Property Damage
On a W-2 form, this box number typically shows the "Federal income tax withheld."
Box 2
Vincent deposits $2,000 at 2% interest compounded annually for 5 years. What is his ending balance?
$2,208.16
The term for the extra cost paid for the privilege of using an installment plan or credit, calculated by subtracting the original price from the total paid.
Finance Charge
Max gets a job paying $51,000 a year. The agency fee is one month's pay. How much does Max owe?
$4,250
If Barb is driving 55 mph, her approximate reaction distance in feet is equal to this number.
55 ft
Abby has $150,000 in taxable income. According to the tax worksheet, her tax is 28% of her income minus the subtraction amount of $35978.25
$6,021.75
Sylvia saves $50 per week in an account with 2.25% interest compounded weekly for 5 years. This calculation is known as the future value of what type of deposit?
Periodic Deposit
A credit card holder has a $6,500 limit. If their current balance is $1,406.43, what is their available credit?
$5,093.57
Anton is paid $0.80 per bushel for the first 50 bushels and $0.90 for the next 50. If he picks 120 bushels and the rest are at $0.95, what are his total earnings?
$104
In the liability coverage "250/500/50," the "50" represents $50,000 of coverage for this specific category.
Propery Damage
Maxwell's pension is 1.45% of his average salary ($97,860) for every year worked. If he worked 22 years, what is his annual pension?
$31,217.34
To have $30,000 in 20 years with 3% interest compounded annually, Mike needs to find this "value" of a single deposit.
Present Value
This is the method used to calculate interest on a credit card by summing the daily balances and dividing by the number of days in the billing cycle.
Average Daily Balance
Carole earns $451.25 for 40 regular hours and 5 overtime hours (time-and-a-half). What is her regular hourly rate?
$9.50
Luna has $20,000 property damage insurance and $5,000 collision insurance with a $500 deductible. One evening she slides on a patch of ice and hits a parked car, causing $4,500 worth of damage. The accident also causes $1,750 worth of damage to his car. How much will the insurance company pay to fix both cars?
$5,750
If a 59-year-old man has a life expectancy of 21.13 years, to what age is he expected to live?
80 years old
If you earn $800 in simple interest over 7 years at a rate of 6.25%, what was the original principal deposited?
$1,828.57
Calculate the monthly payment for a 10-year, $20,000 loan at 4.625% APR.
$208.48
A type of function used to express different commission rates or costs based on different levels of profit or usage.
Piecewise Function
An accident scene shows a "yaw mark." To find the radius, reconstructionists use a middle ordinate and this 5-letter term for a line segment touching two points on a curve.
Chord
Laura withdraws money early from her retirement account and must pay a 10% penalty. If she withdrew $11,043.74, what is her penalty fee?
$1,104.37