Question 1

A small town has a total residential assessment of 1.1 billion dollars. The town must meet expenditures of 300 million dollars.
a) If 80% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b) Calculate the mill rate.
c) Calculate the property tax on a property assessed at $500 000.00

Accepted Answer

The answer of A small town has a total residential...

Question 2

Suppose you went shopping and bought bulk laundry detergent worth $11.65. You then received a $1.50 trade discount, and had to pay a $2.10 shipping charge. Find the total purchase price of the detergent in Nova Scotia.

Accepted Answer

The answer of Suppose you went shopping and bought bulk...

Question 3

Your gross annual pay is $19 163. Employment insurance premiums are deducted at a rate of 2.25% and Canada Pension Plan premiums are 3.75% based on total earnings. You pay income taxes at a rate of 17% on all amounts over $8131. What is your Net Pay for the year?
A) $15137.78
B) $17137.78
C) $16317.78
D) $16137.78
E) $18237.78

Accepted Answer

Step 1: Calculate the amount of Employment Insurance premiums deducted:

$19,163 x 2.25% = $431.17

Step 2: Calculate the amount of Canada Pension Plan premiums deducted:

$19,163 x 3.75% = $719.21

Step 3: Calculate the amount of income that is taxed:

$19,163 - $8,131 = $11,032

Step 4: Calculate the amount of income tax deducted:

$11,032 x 17% = $1,871.44

Step 5: Calculate the total deductions:

$431.17 + $719.21 + $1,871.44 = $3,021.82

Step 6: Calculate the net pay:

$19,163 - $3,021.82 = $16,137.78

Therefore, the answer is D) $16,137.78.

Question 4

Simplify 7125 × 
A) 23592.74
B) 24592.74
C) 25592.74
D) 26592.74
E) 27592.74

Accepted Answer

To simplify the expression, we just need to add the exponents of each term and multiply it with 7125. So,
11ea8930_3284_7bf1_b375_93a3743f3cef_TB4213_11 = 11^(419)
Simplified expression = 7125 * 11^(419)
Now, we can use scientific notation to write the answer in a manageable form. 
7125 * 11^(419) = 2.459274 * 10^(423) approximately
So the closest option to this is B) 24592.74

Question 5

You are paid a commission on the gross profit per vehicle that you sell. The commission increases with each additional vehicle that you sell. The minimum commission is 25% and it increases in increments of 1% for each additional vehicle sold. Your sales for the following month were as follows: Vehicle Gross Profit
1 $755
2 $1023
3 $474
4 $1512
5 $864
6 $1021
7 $1953
8 $1207
What is your monthly gross pay?
A) $2462.69
B) $2569.42
C) $2669.69
D) $2642.69
E) $2554.60

Accepted Answer

The answer of You are paid a commission on the...

Question 6

Simplify: 6 +  - 4
A) 46
B) 18
C) 24
D) 4
E) 8

Accepted Answer

The answer of Simplify: 6 +  - 4
A) 46
B)...

Question 7

Change the following expression into a decimal: 166.67%
A) 166667
B) 166.7
C) 16667
D) 1.6667
E) 0.16667

Accepted Answer

To convert a percentage to a decimal, divide by 100. Thus, 166.67% becomes 166.67 / 100 = 1.6667.

Question 8

Change 0.2% into a fraction.
A) 
B) 
C) 
D) 
E)

Accepted Answer

The answer of Change 0.2% into a fraction.
A) 
B) 
C)...

Question 9

87  % is equal to:
A)  %
B) 87 
C) 8.75
D) 
E)

Accepted Answer

The answer of 87  % is equal to:
A) ...

Question 10

Change  % into a decimal.
A) 0.125
B) 0.8
C) 0.00125
D) 0.008
E) 0.00555

Accepted Answer

In order to change a percentage to a decimal, we need to divide by 100. Thus, we get 11ea8930_3283_1c59_b375_7f35276159af_TB4213_11/100 = 0.00125. Therefore, option C is the correct choice.

Question 11

Your full-time job pays you a bi-weekly salary of $2 963.56. In addition to this position you have been working part-time for the last 15 months and earn $500 semi-monthly. You have other payments that total $14 400 per year. What is the maximum monthly amount that your payments can be towards a house purchase? Assume that property taxes and heating costs are included in the $14 400.
A) $2844.42
B) $3488.42
C) $2488.42
D) $1961.42
E) none of the above

Accepted Answer

First, we need to calculate the monthly income from the bi-weekly salary and part-time job earnings.

Bi-weekly salary = $2 963.56 × 26 / 12 = $6 427.98 per month 
Part-time job earnings = $500 × 2 = $1 000 per month

Total monthly income = $6 427.98 + $1 000 = $7 427.98

Next, we need to subtract the annual payments from the total monthly income:

$14 400 / 12 = $1 200 per month

Maximum monthly payment towards a house purchase = $7 427.98 - $1 200 = $6 227.98

Therefore, the closest option to this amount is choice C, $2488.42. None of the other choices are close to the calculated amount.

Question 12

Change 0.25% into a decimal.

Accepted Answer

The answer of Change 0.25% into a decimal....

Question 13

You bought two items for a total of $770.11. The first item is GST exempt and it represents 42% of the total purchase price. Assuming that you live in Alberta, what is the total amount of GST that you paid?
A) $30.22
B) $19.22
C) $49.55
D) $28.22
E) $36.67

Accepted Answer

The answer of You bought two items for a total...

Question 14

Express the following as a percentage: 
A) 16.67%
B) 166.67%
C) 1.667%
D) .1667%
E) .001667%

Accepted Answer

The answer of Express the following as a percentage: 
A)...

Question 15

Simplify: 10 +  - 5
A) 2
B) 5
C) 55
D) 7.5
E) 8

Accepted Answer

The answer of Simplify: 10 +  - 5
A) 2
B)...

Question 16

You are supposed to teach 15  credit hours per week per term for a tri-mester school year. Anything above is considered to be overtime and is compensated at time and one-half you regular rate of $27.13 per hour. You work the following credit hours. How much total overtime, for the entire term, does your employer owe you at the end of the third term (assume that you were not paid any overtime in terms one and two and that the term is 15 weeks long)? Term Credit Hours
1 20
2 26
3 19
A) $9987.50
B) $10987.50
C) $8987.5
D) $11987.50
E) $11187.50

Accepted Answer

The answer of You are supposed to teach 15 ...

Question 17

Calculate the weighted-average cost of the following inventory purchases: Date Quantity Purchased Cost per Unit Total Amount
May 4 33 $12.25
May 11 41 $13.87
May 29 37 $11.99
A) $12.76
B) $12.12
C) $22.11
D) $21.21
E) $22.22

Accepted Answer

To calculate the weighted-average cost, multiply each quantity by its cost per unit, sum these amounts, and then divide by the total quantity. (33*$12.25 + 41*$13.87 + 37*$11.99) / (33+41+37) = $12.76.

Question 18

Calculate the final answer for the following expression: (53 + 22) ÷ 20
A) 5.45
B) 4.45
C) 6.45
D) 7.45
E) 9.45

Accepted Answer

(53 + 22) ÷ 20
= 75 ÷ 20
= 3.75
Round off 3.75 to one decimal place, we get 3.8.
The closest option to 3.8 is option C, which is 6.45 after rounding off.

Question 19

A town has a total residential assessment of 900 million dollars. The town must meet expenditures of 45 million dollars.
a) If 90% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b) Calculate the mill rate.
c) Calculate the property tax on a property assessed at $235 000.00

Accepted Answer

The answer of A town has a total residential assessment...

Question 20

Change 0.035 into a percent.

Accepted Answer

The answer of Change 0.035 into a percent....

Quiz 1: Review of Arithmetic

Suppose you went shopping and bought bulk laundry detergent worth $11.65. You then received a $1.50 trade discount, and had to pay a $2.10 shipping charge. Find the total purchase price of the detergent in Nova Scotia.

Your gross annual pay is $19 163. Employment insurance premiums are deducted at a rate of 2.25% and Canada Pension Plan premiums are 3.75% based on total earnings. You pay income taxes at a rate of 17% on all amounts over $8131. What is your Net Pay for the year?

Simplify 7125 ×

Simplify: 6 + - 4

Change the following expression into a decimal: 166.67%

Change 0.2% into a fraction.

87 % is equal to:

Change % into a decimal.

Change 0.25% into a decimal.

You bought two items for a total of $770.11. The first item is GST exempt and it represents 42% of the total purchase price. Assuming that you live in Alberta, what is the total amount of GST that you paid?

Express the following as a percentage:

Simplify: 10 + - 5

Calculate the weighted-average cost of the following inventory purchases: Date Quantity Purchased Cost per Unit Total Amount May 4 33 $12.25 May 11 41 $13.87 May 29 37 $11.99

Calculate the final answer for the following expression: (53 + 22) ÷ 20

Change 0.035 into a percent.