Math 20 question multiple choice quiz

  

Nathaniel buys a pair of jeans costing $45.30. Using the table below to find the sales tax on this item, what is the total purchase price? 

  

Amount   of Sale

Tax

 

44.70 − 44.89

2.92

 

44.90 − 45.09

2.93

 

45.10 − 45.29

2.94

 

45.30 − 45.49

2.95

 

a.

$48.35 

 

b.

$48.25 

 

c.

$47.00 

 

d.

$48.02 

Eva purchases a bicycle costing $150.95. State taxes are 5.5% and local sales taxes are 2.4%. The store charges $30 for assembly. What is the total purchase price? (Round your answer to the nearest cent if necessary)
 

  

a.

$155.95 

 

b.

$192.88 

 

c.

$161.41 

 

d.

$168.25 

Georgia bought outdoor furniture for a total purchase price of $2,150.75. State taxes were 5.75%. Find the amount of the sales tax. (Round your answer to the nearest cent if necessary)
 

  

a.

$123.67 

 

b.

$116.94 

 

c.

$109.91 

 

d.

$154.08 

S

piros purchases a Rolex watch costing $10,600. State taxes are 4.5% and the federal excise tax is 11%. What is the total purchase price? 

  

a.

$11,752 

 

b.

$11,320 

 

c.

$11,128 

 

d.

$12,243 

Al purchases a speedboat costing $24,500. State taxes are 5.5% and federal excise tax is 13%. What is the total purchase price? (Round your answer to the nearest cent if necessary)
 

  

a.

$25,442.50 

 

b.

$27,128.50 

 

c.

$29,032.50 

 

d.

$26,240.00 

You have some property that has an assessed value of $87,500. If the tax rate is $8.79 per $100 of assessed value, calculate the tax due. (Round your answer to the nearest cent if necessary)
 

  

a.

$8,999.63 

 

b.

$7,722.60 

 

c.

$9,325.36 

 

d.

$7,691.25 

Logan and Marlo are married and filing jointly. Their taxable income is $74,223. Use the Tax Table, Exhibit 18-3 from your text, to find their tax liability. 

  

a.

$12,969 

 

b.

$10,269 

 

c.

$10,256 

 

d.

$14,413 

Isabella is filing as the head of a household. Her taxable income is $68,014. Use the Tax Table, Exhibit 18-3 from your text, to find the tax liability. 

  

a.

$9,296 

 

b.

$13,206 

 

c.

$12,863 

 

d.

$11,419 

Caterina is single. Her taxable income is $59,541. Find the tax liability using the Tax Table, Exhibit 18-3 from your text. 

  

a.

$8,094 

 

b.

$10,911 

 

c.

$11,081 

 

d.

$11,056 

How much would Olga’s semiannual premium be for a 5-year term insurance policy with a face value of $350,000, based on Tables 19-1 and 19-2 from your text? She turned 26 years old on her last birthday. (Round your answer to the nearest cent) 

  

a.

$549.70 

 

b.

$456.82 

 

c.

$450.00 

 

d.

$392.50

At age 22, Valencia has decided to purchase a 5-year term insurance policy with face value of $165,000. Use the table in the book to calculate her semiannual premium. 

  

a.

$190.48 

 

b.

$192.27 

 

c.

$366.30 

 

d.

$351.90 

At age 29, Wendi purchased a 20-year endowment insurance policy with face value of $230,000. She is now 32 and wants to cancel her policy. Determine the amount of reduced paid-up insurance to which she is entitled. 

  

a.

$17,338 

 

b.

$22,310 

 

c.

$19,879 

 

d.

$15,070 

Sunshine was transferred to another city and must sell her home. She renewed her homeowner's policy effective 11 months ago, with an annual premium of $902.00. How much of a refund will she receive based on Table 19-5 in your text? 

  

a.

$39.97 

 

b.

$87.41 

 

c.

$91.74 

 

d.

$45.10 

Maya was involved in an auto accident in which she was at fault. Her own car sustained $1,926 damages and the other vehicle cost $1,126 to repair. Maya was not injured, but the driver of the other car required medical treatment costing $3,448 and a passenger's injuries totaled $3,946. Maya's policy includes 10/20/5 liability, $250 deductible collision and full coverage comprehensive. How much of the damages must Maya pay? 

  

a.

$385 

 

b.

$250 

 

c.

$260 

 

d.

$955

 

Ignacio was involved in an auto accident in which he was at fault. His own car sustained $3,827 damages and the other vehicle cost $1,709 to repair. Ignacio was not injured, but the driver of the other car required medical treatment costing $34,550 and a passenger's injuries totaled $3,944. Ignacio’s policy includes 15/30/10 liability, $250 deductible collision and $100 deductible comprehensive. How much of the damages must the insurance company pay? 

  

a.

$21,840 

 

b.

$30,000 

 

c.

$43,680 

 

d.

$24,230 

Linda was involved in an auto accident in which she was at fault. Her own car sustained $3,293 damages and the other vehicle cost $982 to repair. Linda was not injured, but the driver of the other car required medical treatment costing $8,668 and a passenger's injuries totaled $22,035. There was additional property damage in the amount of $3,296. Linda's policy includes 50/100/50 liability, $500 deductible collision and full coverage comprehensive. How much of the damages must Linda pay? 

  

a.

$37,774 

 

b.

$500 

 

c.

$2,793 

 

d.

$4,278

Scott was involved in an auto accident in which he was at fault. His own car sustained $2,380 damages and the other vehicle cost $2,748 to repair. Scott was not injured, but the driver of the other car required medical treatment costing $32,180. Scott's policy includes 10/20/5 liability, $250 deductible collision, and full coverage comprehensive. How much of the damages must the insurance company pay? 

  

a.

$22,430 

 

b.

$32,180 

 

c.

$37,308 

 

d.

$14,878

At age 20, Zia purchased a 20-payment life insurance policy with face value of $415,000. She is now 40 and wants to cancel her policy. Use Table 19-3 from your text to calculate the amount of reduced paid-up insurance to which she is entitled. 

  

a.

$415,000 

 

b.

$382,530 

 

c.

$41,500 

 

d.

$354,665 

If Carly's husband were to die, she and her children could live on $50,100 per year. Carly makes $28,500 annually, and estimates additional income of $8,300 from other sources. How much insurance should she purchase on her husband to cover the shortfall, assuming a 17.7% prevailing interest rate? (Round to nearest $1,000) 

  

a.

$57,000 

 

b.

$84,000 

 

c.

$75,000 

 

d.

$156,000