You Buy 2 Gallons of Milk at $3.29/Gallon, 4 Gallons of Ice Cream at $3.59/Gallon, And

You buy 2 gallons of milk at $3.29/gallon, 4 gallons of ice cream at $3.59/gallon, and 5 lbs of strawberries at $0.72/lb. Food sales tax is 3.75%. What is your total cost? (1 point)

$24.54

$25.46

$33.74

$7.89

You purchase 9.25 gallons of gasoline at $3.15/gallon. You also buy gum ($1.10) and windshield wiper fluid ($4.97). The state has a food tax of 4% and you give the clerk $30.00 cash. You pay the rest with your debit card. How much is charged to your debit card? $35.21

$5.21

$35.25

$5.25

Knowing that you use 275 KWH from 7 a.m.—7 p.m. and 265 KWH 7 p.m.—7 a.m., answer the following question using the chart below.

Constant Usage$0.06624/KWH

Daytimer (most usage between 7 a.m.—7 p.m.) As long as most power used is from 7 a.m.—7 p.m., then you receive a 20%

discount on power usage between 7 p.m.—7 a.m.

$0.06831/KWH

NightTimer (most usage from 7 p.m.—7 a.m.) If more than 50% of power usage is outside of 7 p.m.—7a.m., then you have

to pay the Daytimer rate for all power used between 7 a.m.—7 p.m.

$0.06445/KWH

How much have you paid on the NightTimer plan?

(1 point)$35.87

$34.80

$36.89

$35.77

Your parents’ original purchase price was $1,550.00 plus 7.25% sales tax. They enter into an agreement where the interest (11.75% APR) is waived for the first 12 months provided they make the required monthly payments; otherwise the interest is accrued from the date of purchase. They miss the first payment due date. The late fee is $29.00. How much is the interest? (1 point

$195.33

$16.27

$182.13

$15.18

Your parents have the following expenses. What should their monthly

estimated expenses be?

Expense Type

Cost

Rent (monthly)$967.43

Groceries (weekly)$113.00

Telephone (monthly) $64.44

Car payment (bi-monthly)$192.58

$1,336.17

$1580.16

$1,890.00

$1,680.24

Your parents make a purchase of $2,975.34 using a popular reward credit card that gives you 1% cash back. If the credit card has a 13.5% APR and you do not make a payment the first month, how much is the difference between the interest and reward? (1 point)

$29.75

$371.92

$3.72

$33.47

Your parent’s mortgage is $231,450 at a 4.65% APR. If they pay $2,236 toward the mortgage each month, how much of the second month's payment is applied toward the second month's principal? (1 point

$2,678.26

$4,437.34

$1,339.13

$1,344.32

You work 35 hours/week for 52 weeks and are given the option to be paid hourly or to go on salary. In which situation will you earn the most?

$32,000/year

$18.50/hour

$30,000/year with a 5% bonus

$17.50/hour and a $1,500 bonus at the end of the year

What is the total of your parents’ monthly fixed expenses?

ExpenseAmount

Rent$998.50

Groceries (bi-weekly)$195.40

Charge card$258.90

Cell phone$65.78

Name brand khakis for work (store brand optional)$34.95

1,713.98

$1,518.69

$1,748.13

$1,553.53

Your gross pay is $1,843.45. Your involuntary deductions are FICA (7.65%), federal withholding (9%), and state withholding (6.5%). How much are you allowed for housing and fixed expenses? (1 point)

$516.17

$663.64

$510.01

$396.68

Your parents have 3 credit cards. Each has its entire credit line used, and the credit limits are $1,800.00, $2,600.00, and $3,500.00. Paying off and closing which card would increase your parents' debt ratio the most? (1

$3,500.00 limit

$2,600.00 limit

$1,800.00 limit

The debt ratio remains the same.