Business Math

Basic Math Assignment
(Total 40 Points)

Question 1: (4 Points)

a) The price of a product went up $3 in 2013 and went down $4 in 2014. What is the overall change in price over the two year period?

b) Jane bounced three checks and the bank charge for each was $35. Use a negative or positive sign to express the total service charges.

c) 29 ÷ 6 = (express using remainder)

d) 4 – (- 6)

Question 2: (8 Points)

a) 0.4 * 0.7 =

b) Sam’s checking account was overdrawn $40. If he deposited $30, what is his new balance?

c) Aunt Jean’s debts were divided between three of her nieces. If she owed a total of $1,623, how much was owed by each niece?

d) 0.17 - (-6.9) = (round to the nearest thousandth)

e) 17.9 * (-3) =

f) -16.9 * (-4.9) =

g) 14 ÷ 7.9 = (round to the nearest tenth)

h) If the bank was asked to reverse a service charge they’d previously assessed, could the following problem be the correct way of calculating this? $140 - (-35) = $175. True or false

Question 3: (12 Points)

a) 1/3 + 1/4 =

b) 1/2 - 4/5 =

c) (1/7) (-2/3) =

d) 7 ÷ 7/3 =

Question 4: (16 Points)

Lynn and Michael have been offered jobs where they will be paid strictly on commissions. They expect to receive 4% commissions on all sales of Solar Panels they close. Lynn’s goal is to earn a gross salary of $60,000 a year. Michael’s goal is to earn a gross salary of $20,000 a year part-time. How much in Solar Panel sales would Lynn and Michael need in order to reach their targeted salaries? Show your work.