quiz 14 7.5 - 7.9

Question 1

Based on a monthly salary of $2,500 find:

tithe and offerings - 12%

Answer 1

$300

Question 2

Based on a monthly salary of $2,500 find:

mortgage - 27%

Answer 2

$675

Question 3

Based on a monthly salary of $2,500 find:

utilities - 9%

Answer 3

$225

Question 4

Based on a monthly salary of $2,500 find:

food - 14%

Answer 4

$350

Question 5

Based on a monthly salary of $2,500 find:

medical - 5%

Answer 5

$125

Question 6

Find the simple interest:

p = $3,750 r = 12% t = 2 yr. i = ___

Answer 6

$900

Question 7

Find the simple interest:

p = $22000 r = 8 3/4% t = 5 yr. i = ___

Answer 7

$9,625

Question 8

Find the simple interest:

p = $1600 r = 15% t = 3 mo. i = ___

Answer 8

$60

Question 9

Nate Williams borrowed $500 from a loan company for 12 months. He signed a note to repay the loan at $50 per month. How much interest did he have to pay?

Answer 9

$100

Question 10

Heather Thompson has a credit line on $3,000 on a department store credit card. Her present balance on the card is $1,897. How much can she charge without exceeding her credit limit?

Answer 10

$1,103

Question 11

Ethan Parker borrowed $1,200 from a loan company at 15% simple interest for 6 months. How much did he have to pay each month on the installment plan?

Answer 11

$215