The installment price of a food processor is $379.48 with 18 monthly payments and a down payment of $40. Find the monthly payment.
A mountain bike has a cash price of $690.00. Eric purchases the bike by making a down payment of $69.00 and 24 payments of $38.74. Find the finance charge.
Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year.
How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year?
Mai earns a gross weekly income of $464.00. How much Social Security tax should be withheld the first week of the year? How much Medicare tax should be withheld? Assume a 4.2% FICA rate and a 1.45% Medicare rate. Round to the nearest cent.
| a | Social Security tax = $20.49 Medicare tax = $7.73 |
| b | Social Security tax = $19.49 Medicare tax = $6.73 |
| c | Social Security tax = $194.90 Medicare tax = $67.28 |
| d | Social Security tax = $1.95 Medicare tax = $0.67 |
Steve Nyren is paid on a salary-plus-commission basis. He receives $488 weekly in salary and a commission based on 1.1% of all weekly sales over $15,000. If he sold $23,700 in merchandise in one week, find his gross earnings for the week.
An item has a 30.1% markup based on selling price. What is the equivalent markup percent based on the cost?
Cost = $48.19; selling price = $58.79. Find the markup and the rate of markup based on the selling price.
| a | Markup = $21.20 Rate of markup based on selling price = 22.0% |
| b | Markup = $10.60 Rate of markup based on selling price = 82.0% |
| c | Markup = $21.20 Rate of markup based on selling price = 51.8% |
| d | Markup = $10.60 Rate of markup based on selling price = 18.0% |
An invoice for a laptop computer that cost $625.68 is dated September 15, with sales terms of 3/10 EOM. If the bill is paid October 8, find the cash discount and net amount paid.
| a | Cash discount: $18.47; net amount: $614.68 |
| b | Cash discount: $0; net amount: $625.68 |
| c | Cash discount: $18.77; net amount: $ $606.91 |
| d | Cash discount: $62.57; net amount: $563.11 |
The list price of a keyboard is $796. If the trade discount series offered is 5/10/15, what is the trade discount?
The store where Anna-Marie is a salesperson offers a trade discount series of 20/15 on any clothes bought at the store. Use the single discount equivalent to calculate the trade discount for a $106 sweater.
