Percents
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Current Events
in Finance
in Finance
100
A percent is defined as....
This is a number or ratio expressed as a fraction with a denominator of 100.
100
What is the definition of Gross Income?
This is an individuals total income for the year to include wages, tips, interest and/or dividends from investments, unemployment compensation, profits from a business, lottery winnings, and rental income.
100
If $250 is deposited into an account earning 5% simple interest, what would be the interest after 1 year?
The interest would be $12.50.
100
Laurie invest $5,000 into a CD at 3.5% compounded once a year. How much is the CD worth after 3 years?
The CD is worth $5,543.59.
100
Who recently announced that they will step down as CEO of a major TV station in the United States?
Rupert Murdoch
200
What is the fraction
17/32
as a percent?
53.125%
200
What is Adjusted Gross Income?
This is an individual's Gross Income minus allowable adjustments such as contributions to retirement funds, tax-deferred savings plans, interest on students loans, and self-employment costs.
200
You deposit $1,000 into Lake City Bank account at 3% simple interest for 1 year. How much will be in the account after 1 year?
The account will be worth $1,030.
200
Laurie invest $5,000 into a CD at 3.5% compounded monthly. How much is the CD worth after 3 years?
The CD is worth $5,552.70.
200
What are three companies affected by the recent UAW strike?
They are General Motors, Ford and Stellantis (Chrysler).
300
The state sales tax for Indiana is 7%. If a person goes to Walmart and buy the following shirt. What will be the price with sales tax?
The total cost will be $18.10.
300
What does the FICA in FICA tax stand for?
Federal Insurance Contributions Act
300
A person buys into a CD for $2,500 at 3% simple interest for 3 years. What is the CD's future value?
The future value of the CD is $2,725.
300
Mariela wants to have $10,000 to buy the car of her dreams. She finds an investment that will give her 4.25% compounded monthly for 6 years. How much does she initially need to invest?
She needs to invest $7,752.66.
300
What event may affect the economy significantly on October 1 of this year?
A government shutdown due to house republicans failure to pass a budget.
400
This TV at Meijer normally sells for $179.99. It is on sale for 44% off. What is the new sale price?
The new sale price is $100.79.
400
A person who earns $60,000 per year income has the following deductions:
1. $5,000 in medical bills.
2. $1,000 in donations.
3. $1,200 in interest on a mortgage.
4. $500 on student loan interest.
5. $1,500 on child dependent care.
Is it more advantageous for them to itemize or to take the standard deduction? Explain your anwser.
Their total deductions come to $9,200 which is much lower than the standard deduction of $13,850 for single and $27,700 for married filling jointly. So it is more advantageous for them to take the standard deduction.
400
A person borrows $5,250 from Lake City Bank at 3.5% simple interest for 5 years. What will be this person's monthly payment?
The monthly payment would be $102.81.
400
Miguel takes out a loan of $7,595 to buy a used Mazda MX-5 Miata. The bank gives him a loan at 7.5% APR compounded monthly for 4 years. What is Miguel's monthly payment?
Miguel's monthly payment will be $213.39.
400
What product's prices increased this week over 100% causing people to start stealing the product?
What is olive oil.
500
The approximate current World population is 8,090,500,000 people as of 9/21/2023. The population on May 1, 2006 was 6,539,993,000. What percent increase was this?
This was a 23.7% increase.
500
A couple (married filling jointly) have the following:
- Gross Income $126,000
- Adjustments $10,500
- Deductions
$3,780 state taxes
$6,900 mortgage interest
$3,200 property taxes
$8,000 charitable donations
Tax Credits $9,600
What kind of return will they get and how much?
Their deduction are less than the standard deduction so they will take the standard deduction. This means their taxable income is $87,800. This means they owe $10,545. The have tax credits of $9,600. Which means they will not be getting a tax return instead they owe an additional $945 in taxes to the federal government.
500
Max takes out a loan of $11,240 at 7.25% simple interest for 2 years 6 months. What will be Max's monthly payment?
Max's monthly payment will be $442.58.
500
Alondra can only afford a $200 per month payment for a vehicle. If the bank is willing to give her a loan at 6.75% compounded monthly for 5 years, how expensive of a car could she buy?
She could afford a car that cost $8,570.
500
How much do the three CEO's of the three largest automakers make per year combined?
$75,000,000 per year
GM - Mary Barra $29 million
Ford - Jim Farley $21 million
Stellantis - Carlos Tavares $24.8 million