business mathematics
tional Homework by Learning Unit/ Unit 1, Question no 4
Question 8 |
(15 points) (10 min) |
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Consumers, community activists, and politicians are decrying the new line of accounts because several include a $3 service charge for some customers who use bank tellers for transactions that can be done through an automated teller machine. |
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Bill Wade banks at a local bank that charges this fee. He was having difficulty balancing his check book because he did not notice this fee on his bank statement. |
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His bank statement showed a balance of $822.18. Bill's checkbook had a balance of $206.48. Check No. 406 for $116.08 and Check No. 407 for $12.50 were found outstanding. |
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A $521 deposit was not on the statement. Bill has his payroll check electronically deposited to this checking account - the payroll check was for $1'015.12. (Bill's payroll checks vary each month.) There are also a $1 service fee and a teller fee of $6. |
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Complete Bill's bank reconciliation. |
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Please indicate the sign (+ or -) and complete the empty spaces where applicable |
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Checkbook balance |
$ |
206.48 |
Bank statement balance |
$ |
822.18 |
…………………………… |
$ |
………………… |
…………………………… |
$ |
………………… |
…………………………… |
$ |
………………… |
…………………………… |
$ |
………………… |
…………………………… |
$ |
………………… |
…………………………… |
$ |
………………… |
Reconciled balance |
$ |
………………… |
Reconciled balance |
$ |
………………… |
NB: Do not vorget that "reconciled balance" means the Balance was agree! |
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Question 9 |
(10 points) (10 min) |
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Solving word problems for the Unknown |
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Eileen Haskin's utility and telephone bills for the month totaled $180. |
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The utility bill was 3 times as much as the telephone bill. How much was each bill? |
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Unknown(s) Variable(s) Relationship |
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………………….. |
……….. |
……………………………………... = Total bill |
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………………….. |
……….. |
Total bill = $180 |
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Indicate your detailed calculation below: |
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Question 12 |
(10 points) (10 min) |
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Markup based on selling price |
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Bari Jay, a gown manufacturer, received an order for 600 prom dresses from China. Her cost is $35 a gown. |
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If her markup based on the selling price is 79%, what is the selling price of each gown? |
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Round tho the nearest cent. |
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Indicate your answer with your detailed calculation below: |
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Question 13 |
(5 points) (5 min) |
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Simple interest and maturity value |
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Principal |
Interest rate |
Time |
Simple interest |
Maturity value |
$17'000 |
2 1/2 % |
18 months |
$ ……… |
$ …………. |
Indicate your detailed calculation below: |
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