Testing after each unit can be used using the website above. Please use the websites and YouTube videos below for course material:

Unit 1: Introduction to Simple Interest and Net Income

Important Questions:

Solve the following problems:

• DOMINO EFFECT How much does Domino’s charge for pizza?

1. Below are the prices for a medium 2-topping pizza and a medium 4-topping pizza from Domino’s. How much do you think Domino’s is charging for each topping, and how much would you expect to pay for a plain cheese pizza?

Medium Pizza: Pepperoni, Green Peppers $13.97

Medium Pizza: Bacon, Chicken, Mushrooms, Peppers $16.95

2. Write an equation you could use to determine the price of a pizza for a given number of toppings. Then graph it. If you ordered your favorite medium pizza, how much would you expect to spend?

3. If you double the number of toppings that you order, do you pay twice as much for the pizza? Why or why not?

4. Write an equation for the price of a small Domino’s pizza and an equation for the price of a large Domino’s pizza. Of the three sizes, which has the highest cost per topping, and why might this be? The lowest base price?

Small Pizza: Pepperoni, Green Peppers $9.99

Small Pizza: Bacon, Chicken, Mushrooms, Peppers $11.99

Large Pizza: Sausage, Chicken, Mushrooms, Peppers $19.75

Large Pizza: Philly Steak $14.68

5. Graph the equations for the small and large pizzas. If you had $20, what is the maximum number of toppings you could order in each size – small, medium, and large – and which would you choose?

6. Why do you think Domino’s prices their pizzas differently in different markets (California vs. DC)?

7. Which of the following describes how to calculate net pay?

A. Subtract the total deductions from the net pay.

B. Add the total deductions to the gross pay.

C. Subtract the total deductions from the gross pay.

D. Subtract the total deductions from the take-home pay

8. Paul Lospennato wants to buy a house. Five years from now, he will need $90,000. Paul wants you to calculate how much he needs today to put in the bank (10% semi annually) to reach his goal in the future.

9. The purchase price of a new van was $22,980. The sales tax rate in the state was 5.5%, and registration fees came to $133. There was also a $1,500 manufacturer’s rebate on the van. If the customer put a down payment of $2,200 toward the purchase, what was the delivered price?

A. $20,676.90

B. $22,876.90

C. $24,376.90

D. $22,376.90

10. Michael Valerski had these cash receipts for the week of September 12: paycheck, $562.14; mail in rebate, $75; birthday gift, $100; refund from returned merchandise, $42.67. Complete a cash receipts record to find Michael’s total receipts for the week.

A. $779.81

B. $679.81

C. $704.81

D. $737.14

11. Lou Valdez is buying a truck. His monthly interest was $155 at 10 1/4% interest. What is Lou's principal balance after the beginning of November? Use 360 days. Do not round the denominator in your calculator.

12. Marcia Gadzera wants to retire in San Diego when she is 65 years old. Marcia is now 50 and believes she will need $90,000 to retire comfortably. To date, she has set no retirement money. If she gets interest of 10% compounded semiannually, how much must she invest today to meet her goal of $90,000?

13. Where do you do grocery shopping? A chain supermarket, or a Mom and Pop's style corner store? Ethnic supermarkets? At a cheaper store or one that is known to be more expensive? Why?

14. Do you comparison shop, both between stores and within stores? Wal Mart vs. 7 Eleven vs. Trader Joes?

15. Why is it important to create a budget for personal finance?

**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.

Unit 2: Payments and Buying Products

Important Questions:

1. A pair of shoes at Nordstrom’s costs $120. The shoes are on sale for 15% off. You have a coupon that allows you take an additional 10% off. How much will the shoes cost?

2 Best Buy is having a 10% off electronics sale. The Wii has an original price of $299.99. Since you are a Best Buy employee you can take an additional 25% off. Find the sale price with your employee discount.

3. It’s the end of the season and trampolines are being discounted 15%. You also have a one day only coupon for an additional 10% off one item. The original price of the trampoline was $399. What is the sale price?

4. A shirt at Abercrombie and Fitch is on the 30% off clearance table. All sale items are being marked down an additional 20%. If the original price of the shirt was $85, what is the sale price?

5. A coat that sells for $80 is discounted 20%. The sales tax is 6%. Is it better for the buyer to have the discount applied before the sales tax is added or after the sales tax is added?

6. The new Super Mario Brothers sells for $50. Luckily, on amazon.com they offer a 15% discount, plus you have a 10% coupon. How much will it cost you?

7. Mrs. Beethoven needs to buy a gift for Mrs. Haydn’s new baby. She is considering the Baby Mozart DVD, which sells for $20. The store is having a 30% off sale, plus she has a 5% coupon. How much will the DVD cost?

8. Stella wants to buy a remote control helicopter. The one she wants costs $120. Target has a 50% off sale, plus she would get an additional 5% off for using her Target credit card. How much would the helicopter cost?

9. Dora wants to buy a $40 backpack. Samantha’s Club has a 20% sale and then a 15% off coupon. Priceco has a 10% sale and a 25% off coupon. Which one is the better deal?

10. The game Apples to Apples sells for $26.99 and Clue sells for $20.99. They are on sale for 25% off, plus you get an additional employee discount of 30%. You have $25. Do you have enough money to purchase both games?

**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.

Unit 3: Buying and Interest Payments

Important Questions:

Solve the following problems:

Solve the following problems:

1. Should your family buy or rent a house? Why?

2. What kind of home can I afford?

3. How much will my monthly payments be if the house cost $150,000 with taxes and insurance?

4. What money do you need up front when buying a home?

5. What are all the cost in buying a home? ______ price + _______ cost + misc. cost

6. What is PMI?

7. What is the difference between a 30 year loan and a 15 year loan?

8. What was the subprime lending crisis?

9. If your home is $100,000 what is the annual rate of interest you pay going to be at the end of 30 years?

10. At a very low interest rate of 6%, you're paying $_______ in interest on a $125,000 loan over 30 years.

11. What is a:

    1. Conventional loan

    2. FHA loan

    3. VA

    4. Good Faith Estimate

12. To calculate an employee’s time-and-a-half pay rate

A. Multiply the regular pay rate by 2.

B. Divide the regular pay rate by 1.5.

C. Divide the regular pay rate by 2.

D. Multiply the regular pay rate by 1.5

**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.

Unit 4: Taxes and Simple Finance Interest

Important Questions:

Solve the following problems:

• 1. Build and price a new car of your choice (e.g., AutoTrader.com)

a. Calculate your monthly payment for a five-year term, 5% expected APR, with a $10,000 down payment.

b. What happens to your payment if you decrease your term to three years?

c. You lost your savings and can no longer afford to put money down on the car. The day worsens when the dealership informs you that your credit rating is less than ideal, and your expected APR is 18%. How does this affect your monthly payment for a three-year term?

d. Multiply your monthly payments by the amount of months in the term to determine the total price you will have paid for the car. How much more are you paying for the car in comparison to the selling price?

2. Visit a website that sells used cars (e.g., AutoTrader.com) to see how much the used version of the car you selected earlier cost.

Use that price for the following questions.

a. Using the used car price, calculate your monthly payments for a five-year term, 5% expected APR, with $10,000 down. Compare the payments to that of a new car.

b. Once again, you cannot afford to put any money down on the car and the dealer informs you your poor credit results in an 18% APR. How does this affect your monthly payment for a three-year term?

c. Multiply your monthly payments by the amount of months in the term to determine the total price you will have paid for the car. How much more are you paying for the car in comparison to the selling price?

3. Find a leasing deal for a car.

a. State the terms of the lease.

b.You drive 500 miles a month. Use that number to estimate the amount of miles you drive yearly. Is the allotted mileage for this lease a viable option for you? Explain.

c. Let's say you drive more than 1,000 miles every month, calculate the mileage overage fees you would incur based on the additional per mile cost stated in the lease.

d. Calculate how much you will have paid for the car after the 3 years including the money due at signing.

4. What is a certified used car?

**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.

Unit 5: Finance and Working with Food

Important Questions:

Solve the following problems:

1. Find the cost of a 3-ounce serving of succotash (mixture of two vegetables) if the following ingredients are used.

5-pound box lima beans @ $1.23 per pound.

2 1/2-pound box corn @ $0.58 per pound.

To state this function as a math formula, it would be expressed as:

Total weight X unit price = total cost.

5 pounds X $1.23 = $6.15 total cost of lima beans.

2 1/2 pounds X $0.58 = $1.45 total cost of corn.

$6.15 + $1.45 = $7.60 total cost of succotash.

What is the total cost?

2. 1. If your starting inventory is $15,800.00, you purchase $36,000.00 in food and at the end of the month you have $18,000.00 left in inventory, what was your food cost in dollars?

3. If your food cost was $33,800.00 and the starting inventory was $15,800.00 plus purchases of $44,000.00 what would your ending inventory be?

4. Using the example of question #2, what would your average inventory be?

5. What would your inventory turnover ratio be if the following conditions existed?

Beginning inventory $22,000.00

Purchases $27,000.00

Ending inventory $7,000.00

Food sales $145,000.00

6. If you charge $9.50 for a spaghetti dinner and your food cost percentage is 30%, what is the cost of your food portion in dollars?

7. A restaurant wants to maintain a 31 % food cost. If a pork chop dinner has a food cost per portion of $5.10, what should the menu price be?

8. You know the selling price of your items must represent a 30% food cost, what must you charge for a meal where your food cost is $8.50?

9. The actual food cost was $50,000.00 and the actual beverage cost was $20,000.00. In addition sales were $225,000.00. What was the contribution margin percentage?

10. Determine the labor cost percentage if:

your revenue was $50,000.00

Management salaries are $2,500.00

Cook salaries are $3,000.00

Server salaries are $1,500.00

Food and Beverage costs are $14,000.00

What is the total labor cost ______ and what is the labor cost percentage ________?

**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.