Important Questions:

Solve the following problems

Every time you buy things or services, you pay the sales or transaction tax. Does your state have sales tax? Note your sale tax is _____ percent.

1. If you buy a laptop for $900 in a state with a 10% sales tax, the final price will be $____.

2. If you buy a CD for $12 in a state with a 10% sales tax, the final price will be $____.

3. What does sales tax go to pay in California?

4. Why Isn't Everything Taxed?

5. How Can You Calculate Sales Tax?

6. If there is a 10% sale on an item, and then 9% sales tax is applied to that after-sale price, then what is the total cost of the item including tax as a percentage of its pre-sale sticker price?

7. Cynthia buys 2 shirts, each costing $35, a pair of pants for $40 and a belt for $18. At the register the total she owes is $138.24. What is the rate of sales tax in her state?

8. A certain state charges sales tax at a rate of 8.75% per dollar spent. John spends $127.50 total, including tax, on clothes. What was the total price of the clothing before tax was added?

9. Jack is at the grocery store. He buys $42.87 in groceries, and groceries are not taxed in his state. He also buys $33.17 in other items, which are taxed at 9.1% (not yet applied). How much is his total?

10. Harry, on his first lunch date with Sally, decides to put the entire bill on his credit card. If the bill came to $28 and Harry wants to leave an 18% tip, what is the total amount that he should pay?

11. Lisa just bought a desktop computer. The computer cost $1500, the keyboard cost $100, and the mouse cost $25. If the local sales tax is 7%, what was the total cost of her purchases?

12. Mike spent $30 on food and $50 on non-food products in the supermarket. There's a sales tax of 10% on non-food products only. How much did Mike spend in total at the supermarket?

13. A dealership is selling a used car with a sticker price of $10,500. If state sales tax is 8%, how much will the taxes on purchasing the car be?

14. Jenny buys a blouse that is priced at $45. She pays a total of $48.15, what is the rate of tax on the blouse?

15. Billy is buying from a sudden inflated economy. Suppose a sales tag shows the price of a shirt to be $2. Right at checkout, the cashier charged Billy a hefty sales tax that made the shirt cost $12.25. What percent was this sales tax?

**Take exam at https://testmoz.com/class/16400 during class session.

*Hand in ALL work to teacher with test results on the front.

Work should be 5-10 pages when completed for full credit.

Important Questions:

Solve the following problems

1. Todd is buying a laptop that is discounted by 20%. Included in the amount he pays is a 7% sales tax on the discounted price. If the original price of the laptop is $995 (before the discount) what is the total amount that Todd pays, rounded to the nearest cent?
2. What are taxes?
3. Why do we pay state and federal taxes?
4. Why is my paycheck smaller than I expected? What is taken out of paychecks?
5. How do I prepare to file my taxes?
6. Charlie is out shopping for a new hockey stick. His parents have given him $65 to buy a new one. At Cleve’s he sees a hockey stick originally $69.99 on sale for 20% off.
7. Sarah and her mom decide to go out for dinner to Swiss Chalet. Sarah’s meal is $13.95 and her mom’s meal is $14.95.

a) What will be the total cost of their meals after 15% tax is included?

b) What will the grand total of their bill be once they include a tip of 15%?

8. Marcus and his 3 friends go the corner store to buy some candy. Each one buys a bag of chips that costs $1.50.

a) What will the total of all their chips be with tax? (Tax is 10%) Show all steps.

9. A computer originally priced at $990, is reduced by 30%.

a) How much is the discount?

b) How much will it cost before tax?

c) How much will it be with tax included? (Tax is 10%)

10. Maggie buys a dress and a pair of shoes at The Home Store. Before adding the sales tax, she pays $48 for a dress that normally sells for $62 and she pays $34 for a pair of shoes that normally sells for $46.

a) Before the sales tax, how much does Maggie save on her purchases by buying at the sale price? Show all work.

b) To the nearest percent, what percent discount did Maggie get on her total purchase? Show all work.

c) Including a 15% sales tax, what total amount will Maggie pay?

**Take exam at https://testmoz.com/class/16400 during class session.

*Hand in ALL work to teacher with test results on the front.

Work should be 5-10 pages when completed for full credit.

Important Questions:

Solve the following problems

1. You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. How much interest do you get at the end of those two years? Hint: In this case, P = $1000, r = 0.06 (because I have to convert the percent to decimal form), and the time is t = 2.
2. You invested $500 and received $650 after three years. What had been the interest rate? Hint: 150 = (500)(r)(3)
3. You have $50,000 to invest, and two funds that you'd like to invest in. The You-Risk-It Fund (Fund Y) yields 14% interest. The Extra-Dull Fund (Fund X) yields 6% interest. Because of college financial-aid implications, you don't think you can afford to earn more than $4,500 in interest income this year. How much should you put in each fund?" Hint: How do I fill in for those question marks? I'll start with the principal P. Let's say that I put "x" dollars into Fund X, and "y" dollars into Fund Y. Then x + y = 50,000. This doesn't help much, since I only know how to solve equations in one variable. But then I notice that I can solve x + y = 50,000 to get y = $50,000 – x.
4. An investment of $3,000 is made at an annual simple interest rate of 5%. How much additional money must be invested at an annual simple interest rate of 9% so that the total annual interest earned is 7.5% of the total investment? Hint: First I fill in the P, r, and t columns with the given values. Then I multiply across the rows (from the right to the left) in order to fill in the I column. Then add down the I column to get the equation 150 + 0.09 x = (3,000 + x)(0.075). To find the solution, I would solve for the value of x.
5. A total of $6,000 is invested into two simple interest accounts. The annual simple interest rate on one account is 9%; on the second account, the annual simple interest rate is 6%. How much should be invested in each account so that both accounts earn the same amount of annual interest? Hint: In this problem, I don't actually need the "total" row at all. First I'll fill in the P, r, and t columns, and multiply to the left to fill in the I column. From the interest column, I then get the equation 0.09x = ($6,000 – x)(0.06), because the yields are required to be equal. Then I'd solve for the value of x...
6. An investor deposited an amount of money into a high-yield mutual fund that returns a9% annual simple interest rate. A second deposit, $2,500 more than the first, was placed in a certificate of deposit that returns a 5% annual simple interest rate. The total interest earned on both investments for one year was $475. How much money was deposited in the mutual fund? Hint: First I'll fill in the P, r, and t columns, multiplying to the left to fill in the I column. Then I'll add down the I column to get the equation 0.09x + (x + 2,500)(0.05) = 475. Then I'd solve for the value of x.
7. The manager of a mutual fund placed 30% of the fund's available cash in a 6% simple interest account, 25% in 8% corporate bonds, and the remainder in a money market fund that earns 7.5% annual simple interest. The total annual interest from the investments was $35,875. What was the total amount invested? Hint: Once 30% and 25% was accounted for in the 6% and 8% accounts, then there is 100% – 30% – 25% = 45% left for the third account. I can use this information to fill in the "principal" column. Then I'll fill out the "rate" and "time" columns, and multiply to the left to fill in the "interest" column. From the interest column, I get the equation 0.018x + 0.02x + 0.03375x = 35,875. Then I'd solve for the value of x.

**Take exam at https://testmoz.com/class/16400 during class session.

*Hand in ALL work to teacher with test results on the front.

Work should be 5-10 pages when completed for full credit.

Important Questions:

Solve the following problems

1. What was the real problem behind the world financial crisis in 2008?
2. What happened in 1929?
3. How does economics tie to financial crisis?
4. Using this website: What we learned from the financial crisis summarize what it is saying...

Use the following to answer these questions...https://www.thebalance.com/2007-financial-crisis-overview-3306138

1. How did home sales impact the financial crisis?
2. What is a recession?
3. What happened to the stock market?
4. What does subprime misery have to do with the economy?
5. How did homeowner get help?
6. What does all this mean about markets and the economy as it relates to debt and inflation?

**Take exam at https://testmoz.com/class/16400 during class session.

*Hand in ALL work to teacher with test results on the front.

Work should be 5-10 pages when completed for full credit.

Explore the following websites. Write a summary of your findings and how business math can find you a career.

Important Questions:

Solve the following problems

1. The mean of a set of values is the sum of the values divided by the number of values. It is also called the average. Find the mean of 19, 13, 15, 25, and 18
2. Find the Median of 18, 24, 17, 21, 24, 16, 29, 18
3. Find the Mode of 18, 24, 17, 21, 24, 16, 29, 18
4. Find the Mean of 18, 24, 17, 21, 24, 16, 29, 18
5. Find the Median of 75, 87, 49, 68, 75, 84, 98
6. Find the Mode of 75, 87, 49, 68, 75, 84, 98
7. Find the Mean of 75, 87, 49, 68, 75, 84, 98
8. Cassandra’s Candles sold the following number of candles over the last 6 days: 25, 48, 25, 33, 57, 50. What was the average number of candles sold each day?
9. Brian was comparison shopping for Xbox 1 Consoles. He decided he wanted to purchase a console that was in the middle of the price ranges. The prices he was quoted include the following: $59.99, $219.99, $79.99, $84.99, $159.99, $109.99, $35.99. Which did Brian select?
10. The team scored the following number of runs in their games this season: 6, 2, 5, 9, 11, 4, 5, 8,6,7,5

If they want to end the season with an average of 6 runs per game, how many runs must they score in their final game of the season?

**Take exam at https://testmoz.com/class/16400 during class session.

*Hand in ALL work to teacher with test results on the front.

Work should be 5-10 pages when completed for full credit.