Test Bank for Basic College Mathematics An Applied

Approach 10th Edition by Aufmann Lockwood ISBN

1133365442 9781133365440
Full download link at:

Test bank: https://testbankpack.com/p/test-bank-for-basic-college-mathematics-an-applied-approach-

10th-edition-by-aufmann-lockwood-isbn-1133365442-9781133365440/

1. Find the unit cost. Round to the nearest tenth of a cent.

Cheerios cereal, 15 ounces for $1.99
A) $1.857 per ounce
B) $0.233 per ounce
C) $7.538 per ounce
D) $0.133 per ounce
E) $0.867 per ounce

2. Find the unit cost. Round to the nearest tenth of a cent.

Ibuprofen, 50 tablets for $4.79
A) $0.096 per tablet
B) $10.438 per tablet
C) $0.904 per tablet
D) $4.694 per tablet
E) $0.196 per tablet

3. Find the unit cost. Round to the nearest tenth of a cent.

Adjustable wood clamps, 4 for $15.95
A) $11.950 per clamp
B) $0.251 per clamp
C) $3.988 per clamp
D) $4.088 per clamp
E) $11.962 per clamp

4. Suppose your local supermarket offers the following products at the given prices. Find
the more economical purchase.

Bertolli olive oil, 24 ounces for $9.09 or Pompeian olive oil, 28 ounces for $9.69
A) Pompeian
B) Bertolli
C) No difference

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5. Suppose your local supermarket offers the following products at the given prices. Find
the more economical purchase.

Corn, 4 ears for $1.99 or 7 ears for $2.29

A) 4 ears for $1.99
B) 7 ears for $2.29
C) No difference

6. Suppose your local supermarket offers the following products at the given prices. Find
the more economical purchase.

Ultra Mr. Clean, 14 ounces for $2.09 or Ultra Spic and Span, 16 ounces for $3.19
A) Ultra Mr. Clean
B) Ultra Spic and Span
C) No difference

7. If Red Delicious apples costs $1.09 per pound, find the total cost of 1.5 pounds. Round
to the nearest cent.
A) $1.48
B) $1.74
C) $2.59
D) $0.73
E) $1.64

8. Kiwi fruit costs $0.13 each. Find the total cost of 13 kiwi. Round to the nearest cent.
A) $13.13
B) $1.79
C) $1.69
D) $100.00
E) $1.52

9. An automobile manufacturer increased the average mileage on a car from 15 miles per
gallon to 15.8 miles per gallon. Find the percent increase in mileage. Round your
answer to the nearest tenth of a percent.
A) 5.4 %
B) 0.8 %
C) 0.5 %
D) 5.3 %
E) 6.3 %

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10. Computer Inc. uses a markup of $960 on a computer system for which they pay $3200.
What is the markup rate on this system?
A) 3 %
B) 30 %
C) 300 %
D) 23 %
E) 15 %

11. Resner Builders' Hardware uses a markup rate of 50% for a table saw that costs $120.
What is the selling price of the table saw?
A) $135.00
B) $60.00
C) $600.00
D) $180.00
E) $300.00

12. A new computer system reduced the time for printing the payroll from 42 minutes to 23
minutes.
a. What is the amount of the decrease?
b. What percent decrease does this amount represent? Round your answer to the
nearest percent.
A) a) 29 minutes; b) 90 %
B) a) 19 minutes; b) 45 %
C) a) 19 minutes; b) 90 %
D) a) 29 minutes; b) 45 %
E) a) 29 minutes; b) 5 %

13. By installing energy-saving equipment, the Pala Rey Youth Camp reduced its normal
$800-per-month utility bill by $360. What percent decrease does this amount represent?
A) 5 %
B) 68 %
C) 23 %
D) 55 %
E) 45 %

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14. A department store employs 1400 people during the holidays. At the end of the holiday
season, the store reduces the number of employees by 40%. What is the decrease in the
number of employees?
A) 56 employees
B) 840 employees
C) 560 employees
D) 280 employees
E) 1360 employees

15. Juanita's average monthly expense for gasoline was $68. After joining a car pool, she
was able to reduce the expense by 15%.
a. What was the amount of the decrease?
b. What is Juanita's average monthly gasoline bill now?
A) a) $10.20; b) $28.90
B) a) $5.10; b) $57.80
C) a) $7.65; b) $43.35
D) a) $10.20; b) $57.80
E) a) $5.10; b) $28.90

16. A discount clothing store is selling a $70 sport jacket for $20 off the regular price. What
is the discount rate?
A) 4
28 %
7
B) 4
29 %
7
C) 40
28 %
71
D) 40
29 %
71
E) 40
28 %
69

17. A disc player that regularly sells for $400 is selling for 15% off the regular price. What
is the discount?
A) $340.00
B) $6.00
C) $60.00
D) $385.00
E) $325.00

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18. Tomatoes that regularly sell for $1 per pound are on sale for 20% off the regular price.
a. What is the discount?
b. What is the sale price?
A) a) $0.80 per pound; b) $0.20 per pound
B) a) $0.80 per pound; b) $0.80 per pound
C) a) $0.2 per pound; b) $0.8 per pound
D) a) $0.20 per pound; b) $0.20 per pound
E) a) $0.20 per pound; b) $0.80 per pound

19. Standard Brands paint that regularly sells for $50 per gallon is on sale for $44 per
gallon.
a. What is the discount?
b. What is the discount rate?
A) a) $9; b) 12 %
B) a) $6; b) 12 %
C) a) $12; b) 18 %
D) a) $6; b) 18 %
E) a) $9; b) 18 %

20. Find the simple interest Jacob Zucker owes on a 4-year student loan of $8000 at an
annual interest rate of 4%.
A) $320
B) $128
C) $1280
D) $13
E) $324

21. A bank lent Gloria Masters $22,000 at an annual simple interest rate of 6.2%. The
period of the loan was 9 months. Find the simple interest due on the loan.
A) $1023
B) $1364
C) $10,230
D) $102
E) $3548

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22. Shannon O'Hara borrowed $6000 for 90 days at an annual interest rate of 6%. Find the
simple interest due on the loan. Assume 365 days in a year. Round your answer to the
nearest hundredth.
A) $8.88
B) $360.00
C) $3600.00
D) $887.67
E) $88.77

23. The simple interest due on a 30-day loan of $5800 is $74.72. Find the maturity value of
the loan.
A) $5755.28
B) $5904.72
C) $5725.28
D) $5874.72
E) $551.43

24. The simple interest due on a 4-month loan of $4400 is $360. What is the maturity value
of the loan?
A) $4760
B) $4040
C) $4764
D) $1827
E) $4756

25. Action Machining Company purchased a robot-controlled lathe for $255,000 and
financed the full amount at 8% annual simple interest for 6 years. The simple interest on
the loan is $122,400. Find the monthly payment. Round your answer to the nearest cent.
A) $1841.67
B) $3541.67
C) $1700.00
D) $5241.67
E) $4193.33

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26. Cimarron Homes Inc. purchased a snow plow for $50,000 and financed the full amount
for 5 years at an annual simple interest rate of 8%.
a. Find the interest due on the loan.
b. Find the monthly payment.
Round your answer to the nearest cent.
A) a) $20,000; b) $1400.00
B) a) $24,000; b) $1166.67
C) a) $20,000; b) $1166.67
D) a) $24,000; b) $1400.00
E) a) $1166.67; b) $24,000

27. Rosalinda Johnson took out a 3-month, $10,000 loan. The annual simple interest rate on
the loan was 9%. Find the monthly payment. Round your answer to the nearest cent.
A) $340.83
B) $852.08
C) $3258.33
D) $3408.33
E) $325.83

28. A credit card company charges a customer 1.5% per month on the unpaid balance of
charges on the credit card. What is the finance charge in a month when the customer has
an unpaid balance of $144.64? Round your answer to the nearest cent.
A) $2.17
B) $0.22
C) $21.70
D) $142.47
E) $146.81

29. One credit card company charges 1.25% per month on any unpaid balance, and a second
company charges 1.6%. What is the difference between the finance charges that these
two companies assess on an unpaid balance of $739.35? Round your answer to the
nearest cent.
A) $2.07
B) $0.35
C) $2.85
D) $1.55
E) $2.59

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30. North Island Federal Credit Union pays 4% annual interest, compounded daily, on time
savings deposits. Find the value of $800 deposited in this account after 1 year. Round
your answer to the nearest cent.
A) $999.18
B) $832.65
C) $801.05
D) $800.09
E) $666.12

31. Tanya invested $5000 in a tax-sheltered annuity that pays 6% annual interest
compounded monthly. Find the value of her investment after 10 years. Round your
answer to the nearest cent.
A) $3638.79
B) $5025.00
C) $5458.19
D) $9096.98
E) $5255.70

32. Sal Travato invested $3000 in a corporate retirement account that pays 10% annual
interest compounded semiannually. Find the value of his investment after 15 years.
Round your answer to the nearest cent.
A) $3150.00
B) $6236.78
C) $12,965.83
D) $150.00
E) $10,372.66

33. Green River Lodge invests $80,000 in a trust account that pays 6% interest compounded
quarterly.
a. What will be the value of the investment in 15 years?
b. How much interest will be earned in the 15 years?
Round your answer to the nearest cent.
A) a) $115,457.58; b) $195,457.58
B) a) $234,549.10; b) $154,549.10
C) a) $234,549.10; b) $115,457.58
D) a) $195,457.58; b) $115,457.58
E) a) $195,457.58; b) $154,549.10

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34. To save for retirement, a couple deposited $3000 in an account that pays 9% interest
compounded daily.
a. What will the value of the investment be in 10 years?
b. How much interest will be earned in the 10 years?
Round your answer to the nearest cent.
A) a) $7377.99; b) $4377.99
B) a) $8853.59; b) $4377.99
C) a) $7377.99; b) $7004.79
D) a) $8853.59; b) $7004.79
E) a) $10,329.19; b) $3502.39

35. To save for a child's education, the Petersens deposited $2100 into an account that pays
5% annual interest compounded daily. Find the amount of interest earned on this
account over a 10-year period. Round your answer to the nearest cent.
A) $3359.90
B) $3462.20
C) $2799.91
D) $2100.29
E) $1362.20

36. How much interest is earned in 15 years on $8000 deposited in an account that pays 4%
interest, compounded monthly? Round your answer to the nearest cent.
A) $8026.67
B) $6562.41
C) $3937.45
D) $14,562.41
E) $8060.00

37. A condominium at Mt. Baldy Ski Resort was purchased for $86,000, and a down
payment of $15,750 was made. Find the mortgage.
A) $70,250
B) $101,750
C) $35,125
D) $50,875
E) $140,500

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38. Ian Goldman purchased a new home for $160,500. The lender requires a down payment
of 15% of the purchase price. Find the down payment.
A) $160,500
B) $112,350
C) $24,075
D) $2407.5
E) $134,820

39. 1
A loan of $180,000 is obtained to purchase a home. The loan origination fee is 3
2
points. Find the amount of the loan origination fee.
A) $42
B) $630
C) $3150
D) $6300
E) $7560

40. A cattle rancher purchased a home for $270,000. The bank requires a down payment of
20% of the purchase price.
a. Find the down payment.
b. Find the mortgage.
A) a) $54,000; b) $54,000
B) a) $40,500; b) $216,000
C) a) $13,500; b) $162,000
D) a) $54,000; b) $216,000
E) a) $40,500; b) $54,000

41. Vivian Tom purchased a home for $240,000. Find the mortgage if the down payment
Vivian made is 12% of the purchase price.
A) $105,600
B) $21,120
C) $211,200
D) $268,800
E) $28,800

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42. An investor obtained a loan of $150,000 to buy a car wash business. The monthly
mortgage payment was based on 30 years at 10%. Find the monthly mortgage payment.
Round your answer to the nearest dollar.
A) $1428
B) $1316
C) $1363
D) $132
E) $1207

43. Susan Hernandez purchased a home for $210,000 and made a down payment of
$15,000. The balance was financed for 15 years at an annual interest rate of 7%. Find
the monthly mortgage payment.
A) $876.36
B) $1226.90
C) $1752.72
D) $2629.08
E) $3505.44

44. Maria Hernandez purchased a home for $230,000 and made a down payment of
$15,000. The balance was financed for 30 years at an annual interest rate of 6%. Find
the monthly mortgage payment.
A) $2191.36
B) $1289.03
C) $1675.74
D) $1933.55
E) $2578.07

45. A sedan was purchased for $22,000. A down payment of 8% of the purchase price was
required. How much was the down payment?
A) $1760
B) $2112
C) $2750
D) $176
E) $17,600

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46. A & L Lumber Company purchased a delivery truck for $28,500. A sales tax of 6% of
the purchase price was paid. Find the sales tax.
A) $26,790
B) $1710
C) $600
D) $171
E) $1368

47. Your state charges a license fee of 1.3% on the purchase price of a car. How much is the
license fee for a car that costs $19,998?
A) $13.00
B) $130.00
C) $26.00
D) $259.97
E) $207.98

48. A carpenter bought a utility van for $26,000 and made a down payment of 10% of the
purchase price.
a. Find the down payment.
b. Find the amount financed.
A) a) $650; b) $25,350
B) a) $1950; b) $23,400
C) a) $2600; b) $23,400
D) a) $2600; b) $5850
E) a) $1950; b) $24,050

49. An author bought a sports car for $50,000 and made a down payment of 20% of the
purchase price. Find the amount financed.
A) $48,000
B) $60,000
C) $50,000
D) $40,000
E) $10,000

50. A car loan of $16,000 is financed for 3 years at an annual interest rate of 6%. Find the
monthly car payment.
A) $709.13
B) $494.03
C) $479.53
D) $375.76
E) $486.75

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51. An estimate of the cost of owning a compact car is $0.28 per mile. Using this estimate,
find how much it costs to operate a car during a year in which the car is driven 15,000
miles.
A) $3780
B) $336
C) $53,571
D) $4620
E) $4200

52. A camper is purchased for $27,000, and a down payment of $8000 is made. The balance
is financed for 1 year at an annual interest rate of 7%. Find the monthly payment.
A) $850.68
B) $1644.01
C) $859.32
D) $1652.78
E) $1635.26

53. A family spent $1400 on gas, oil, and car insurance during a period in which the car was
driven 13,000 miles. Find the cost per mile for gas, oil, and car insurance.
A) $0.11
B) $0.93
C) $1.68
D) $0.13
E) $0.14

54. Lewis works in a clothing store and earns $10.50 per hour. How much does he earn in a
20-hour work week?
A) $74
B) $210
C) $19
D) $252
E) $231

55. A real estate agent receives a 5% commission for selling a house. Find the commission
the agent earned for selling a house for $153,000.
A) $7650
B) $3060
C) $500
D) $5355
E) $8415

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56. Keisha Brown receives an annual salary of $34,596 as an Italian language teacher. How
much does Keisha receive each month?
A) $3748
B) $3460
C) $3469
D) $2883
E) $4036

57. A nuclear chemist received $10,800 in consulting fees while working on a nuclear
power plant. The chemist worked 120 hours on the project. Find the chemist's hourly
wage.
A) $117
B) $120
C) $111
D) $90
E) $126

58. Gil Stratton's hourly wage is $9.84. For working overtime, he receives double time.
a. What is Gil's hourly wage for working overtime?
b. How much does he earn for working 20 hours overtime?
A) a) $19.68; b) $393.60
B) a) $4.92; b) $393.60
C) a) $39.36; b) $787.20
D) a) $19.68; b) $196.80
E) a) $4.92; b) $196.80

59. Tony's hourly wage as a service station attendant is $11.30. For working the night shift,
his wage is increased 30%. What is Tony's hourly wage for working the night shift?
A) $14.69
B) $41.30
C) $11.60
D) $19.10
E) $20.57

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60. A nurse earns $18.00 an hour. For working the night shift, the nurse receives a 10%
increase in pay.
a. What is the increase in hourly pay for working the night shift?
b. What is the nurse's hourly wage for working the night shift?
A) a) $8.00; b) $19.80
B) a) $8.00; b) $28.00
C) a) $1.80; b) $19.80
D) a) $1.80; b) $28.00
E) a) $8.00; b) $31.00

61. Nicole Tobin, a salesperson, receives a salary of $290.00 per week plus a commission of
20% on all sales over $3000. Find her earnings during a week in which sales totaled
$5500.
A) $890
B) $1390
C) $1990
D) $500
E) $790

62. You had a checking account balance of $394.69 before making a deposit of $129.49.
What is your new checking account balance?
A) $265.20
B) $524.18
C) $786.27
D) $132.60
E) $629.02

63. A nutritionist had a checking account balance of $1313.33 before writing one check for
$134.94 and another check for $251.39. Find the current checkbook balance.
A) $1359.73
B) $1699.66
C) $1390.50
D) $927.00
E) $648.90

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64. Sam had a checking account balance of $3401.20 before writing a check for $950.92
and making a deposit of $140.00. Find the current checkbook balance.
A) $3401.20
B) $4492.12
C) $2590.28
D) $3593.70
E) $1813.20

65. Joel had a checking account balance of $512.91 before a deposit of $118.39 was made.
Joel then wrote two checks, one for $56.19 and one for $274.30. Find the current
checkbook balance.
A) $961.79
B) $300.81
C) $512.91
D) $769.43
E) $210.57

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Answer Key
1. D
2. A
3. C
4. A
5. B
6. A
7. E
8. C
9. D
10. B
11. D
12. B
13. E
14. C
15. D
16. A
17. C
18. E
19. B
20. C
21. A
22. E
23. D
24. A
25. D
26. C
27. D
28. A
29. E
30. B
31. D
32. C
33. D
34. A
35. E
36. B
37. A
38. C
39. D
40. D
41. C
42. B
43. C
44. B

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45. A
46. B
47. D
48. C
49. D
50. E
51. E
52. B
53. A
54. B
55. A
56. D
57. D
58. A
59. A
60. C
61. E
62. B
63. D
64. C
65. B

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