International Business

Unit 1: The World of International Business

Math Practice

1
Which of the following is the correct word form for the amount $56.67?
A)fifty-six and sixty-seven
B)fifty-six dollars and 67/100
C)fifty-six and sixty-seven cents
D)fifty-six dollars and 67
2
Angel Garcia deposited $1,000 in a savings account, which earns 5 percent interest annually. The interest is compounded quarterly. He made no deposits or withdrawals. What is the amount in his account at the end of the fourth quarter of the first year?
A)$1,012.50
B)$1,050.95
C)$1,025.16
D)$1,050.00
3
Glen Keenan's charge account statement showed a previous balance of $97.52, a finance charge of $1.46, new purchases of $12.96 and $54.00, a payment of $30.00, and a credit of $26.99. What is the new balance?
A)$108.95
B)$195.94
C)$192.93
D)$222.93
4
Donna Forrester's gross pay is $72,500 a year. The state income tax rate is 3 percent of taxable wages. Donna takes a married exemption of $3,000 for herself and her husband. How much is withheld from her gross earnings for state income tax for the year?
A)$2,085
B)$2,175
C)$70,325
D)$70,415
5
Ruth Barr traveled to Spain on a business trip. There, she rented a car for 5 days at $59.95 per day with unlimited mileage. She drove 1,156 miles and paid $69.84 for gasoline. What was the total cost per mile to rent the car?
A)$0.11
B)$0.32
C)$3.13
D)$8.91
6
Your company has offices around the world. Each office has an allowance of U.S. $380.00 for office supplies each month. Last month, the office in Brazil spent $391.25 on coffee. How much more or less did the Brazilian office spend than it had budgeted for?
A)$8.75 under
B)$8.75 over
C)$11.25 under
D)$11.25 over
7
Your company's records for the past six months show that its expenditures totaled $2,786, $3,001, $2,875, $2,663, $2,471, and $2,803. What is the average monthly expenditure for the six months?
A)$1,383.25
B)$2,766.50
C)$4,149.75
D)$5,533.00
8
Jamal Kennedy deposits $275.00 in a savings account. The account pays an annual interest rate of 5 percent. He makes no other deposits or withdrawals. After 3 months, the interest is calculated. How much simple interest did his money earn?
A)$3.44
B)$13.75
C)$278.44
D)$263.75
9
Faith Bonds sells furniture and earns 9 percent commission on her total sales. Last month she had $33,500 in sales. How much did she earn?
A)$2,791.67
B)$2,865.00
C)$2,976.88
D)$3,015.00
10
Paul Simmons earns $47,500 as an office manager for a CPA firm. If his company issues weekly paychecks, how much is each check?
A)$913.46
B)$989.58
C)$1,826.92
D)$3,958.33
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