- 115 Views
- Uploaded on

Download Presentation
## PowerPoint Slideshow about ' Review for Quiz B' - ovidio

**An Image/Link below is provided (as is) to download presentation**

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 - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript

### Review for Quiz B

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

A car sales associate sold a car for $22,450. If he earns 1.5% commission, how much was his commission?

Remember, Commission is the part the salesman keeps.

Method 2: Use an equation

Commission = 1.5% (22450)

= 0.015(22450)

Julia needs to earn $75 in commission on her insurance sales this month. If she earns 2% interest, How much must she sell?

Jack purchased a lawn mower for $289 and a $8.59 on weed spray. If he pays 6% sales tax on his purchase, what was the total amount?

Total amount: $289 + 8.59 = $297.50

Tax: 0.06 (297.59)=17.8554 = $17.86

Total including tax= $315.36

Jack earned $245 during his first work week. $34.30 was withheld for federal taxes. What percent was withheld?

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

Frank borrowed $8220 for 4 years to purchase a used car. He pays 7% simple interest. What is the total amount he will repay?

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

Download Presentation

Connecting to Server..