- 102 Views
- Uploaded on
- Presentation posted in: General

Review for Quiz B

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Review for Quiz B

Commission, Sales Tax, Withholding Tax, Mental Math, & Estimating

Remember, Commission is the part the salesman keeps.

Method 2: Use an equation

Commission = 1.5% (22450)

= 0.015(22450)

Total amount: $289 + 8.59 = $297.50

Tax: 0.06 (297.59)=17.8554 = $17.86

Total including tax= $315.36

Mike wants to earn $675 in interest on the $4500 he invested. If the account pays 5% simple interest, how long must he leave the money in the account?

I = prt

675 = 4500(.05)t

675 = 225t

3 = t

3 years

- I = prt
- I = (8220)(.07)(4)
- I= 2301.60
- Total amount = principal + interest
- = $8220 + $2301.60
- = $10521.60

- Think: