# HUI 29.doc

1. Andrew earns \$1.680 per week. He is married and claims 3 exemptions. What is his Fed Income Tax? Use percentage method.
A. \$1680 B. \$197.12 C. \$166.15 D. \$123.86
2. The amount of simple interest for a loan of \$4300 at 9% interest for 21 months is?
A. \$221.14 B. \$387.00 C. \$677.25 D. \$4977.25
3.What would be the amount of interest on \$12000 invested for one yr at 6% compounded quarterly?
A. \$12736 B. \$737 C. \$720 D. \$180
4. A model car lists for \$79.99 with a trade discount of 40%. What is the net price?
A. \$47.99 B. \$31.99 C. \$111.99 D. \$127.98
5. The total amount of interest on a loan of \$5400 for 180 days is \$243. Using the ordinary interest method, what is the rate of interest on this loan?
A. 4.5% B. 6% C. 9% D 11%
6. A manager buys items from a vendor for \$10680. Terms of sale at 3/10, n/30. What will be the net amount due if he pays the bill by the 10th day after the items are received?
A. \$9612.00 B. \$10359.60 C. \$10466.40 D \$10680.00
7. Merchandise was purchased at list for \$8982 with a single trade discount of 12%. What was the net price?
A. \$10059.84 B. \$7904.16 C. \$7005.96 D. \$1077.84
8. What is the effective rate of \$23000 invested for one yr at 6%, compounded semiannually?
A. 2.6% b. 3.0% C. 5.7% D. 6.1%
9. A business purchased supplies from a manufacturer for a list price of \$8500, minus trade discounts of 15/10/5.. What is the amount of trade discount rounded to the nearest cent?
A. \$7225.00 B. 6177.37 C. \$2322.63 D. \$1275.00
10. Given interest of \$1632 with a principal of \$16000 for 306 days, a rate of ______ ist the result.
A. 10% B. 12% C. 12 1/36% D. 13%
11. What are the proceeds of a \$5800 simple discount mote at a 9% bank discount rate for 9 months?
A.\$391.50 B. \$4698.00 C. \$5408.50 D. \$6191.50