Business Mathematics task
III. Written Work 1 in Business Mathematics General Instruction: a. Accomplish the task on a 1 whole sheet of yellow paper. b. Copy the instructions and then write your responses. c. Make sure to answer every item. d. While taking the test, refrain from looking for answers from your notes, from the intemet, from your classmates' answers, and from our discussions in Messenger Classroom. e. Incorrectly spelled answers will not be considered. f. Deadline of Google Classroom and school drop-off submission is on January 30. 2021 until 10:00 AM. Denition (2 pts. each). Provide accurate and concise denition for each of the following terms. SAPS-\"N? Commission Current Increased Balance Down Payment Graduated Commission Straight Commission True or False (2 pm. each). Determine the truthfulness of each of the following statements by writing TRUE if the statement is correct and if incorrect, nd the phrase that makes it so then change that to make it true. 1. 2. 3. 4. 5. An employee earns commission with or without recording sales. If an employee earns on a salary-plus-commission basis, s/he always receives commission and, if s/he has sales, salary. The purpose of graduated commission is to set a structure that will make employees aim for higher incentives as their sales increase. Gross balance is the amount that a borrower needs to pay including interest and penalties. In credit card payment, a balance after a late payment will incur penalty before that payment is made. Problem-Solving (20 pts). Read carefully and answer of the following problems. Show your complete solution. 1. Aide] plans to buy a car worth P750,000. This card he plans to buy has to be paid a down payment of at least 20%. The rest shall be paid thru a bank that charges an interest of 6.56%. How much should Aidel expect to pay after the charge is applied once he buys this car? (3 pts.) Feliza Vidad earns in a straight commission basis. Last week she was able to sell a package worth P658,800 to be paid in a 24-month installment plan with 6% interest. How much commission will Feliza Vidad earn in total once payment is completed? (4 pts. ) Maxwell earns in a salary-plus-commission basis. He expects to close the month with a total sales of P68,7OO to be paid in 6 equal monthly payments. He will earn 7.5% commission on the 1't payment which will continuously decrease by 0.5% monthly until the last payment. Suppose the computed interest after 6 months is P3.600, how much will Maxwell earn in commission from this month's sales? (5 pts.) Megan Mali earns 5.5% commission on all her monthly sales as a sales agent in a tech company. Tomorrow is her pay day. Within the month, she was able to sell different items whose prices are as follows: P13,999, P24,999, and P15,599. If her monthly salary is P21,000, how much will she receive tomorrow? (3 pts.) Sarrah uses her credit card in business where she sells items she bought using credit card. Her current balance to pay is P79,000. She is required to pay at least 15% of the current balance. For late payment, the bank charges additional 2.5%. Compute her billing after 2 months (a) if she paid on time and (2) if she paid beyond deadline. (5 pts.)
