1 / 8

Review for Quiz B

Review for Quiz B. Commission, Sales Tax, Withholding Tax, Mental Math, & Estimating. A car sales associate sold a car for $22,450. If he earns 1.5% commission, how much was his commission?. Remember, Commission is the part the salesman keeps. . Method 2: Use an equation

ovidio
Download Presentation

Review for Quiz B

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Review for Quiz B Commission, Sales Tax, Withholding Tax, Mental Math, & Estimating

  2. A car sales associate sold a car for $22,450. If he earns 1.5% commission, how much was his commission? Remember, Commission is the part the salesman keeps. Method 2: Use an equation Commission = 1.5% (22450) = 0.015(22450)

  3. Julia needs to earn $75 in commission on her insurance sales this month. If she earns 2% interest, How much must she sell?

  4. Jack purchased a lawn mower for $289 and a $8.59 on weed spray. If he pays 6% sales tax on his purchase, what was the total amount? Total amount: $289 + 8.59 = $297.50 Tax: 0.06 (297.59)=17.8554 = $17.86 Total including tax= $315.36

  5. Jack earned $245 during his first work week. $34.30 was withheld for federal taxes. What percent was withheld?

  6. Mike wants to earn $675 in interest on the $4500 he invested. If the account pays 5% simple interest, how long must he leave the money in the account? I = prt 675 = 4500(.05)t 675 = 225t 3 = t 3 years

  7. Frank borrowed $8220 for 4 years to purchase a used car. He pays 7% simple interest. What is the total amount he will repay? • I = prt • I = (8220)(.07)(4) • I= 2301.60 • Total amount = principal + interest • = $8220 + $2301.60 • = $10521.60

  8. Calculate 87 ½ % of 56 using mental math. • Think:

More Related