Applied Business Math (Mid-Term Exam Study Guide)

Applied Business Math (Mid-Term Exam Study Guide) 1. Use digits to write the number that is expressed in words: Eighteen and fifteen thousandths 2. Use digits to write the number that is expressed in words: Five hundred thousand six and twelve thou- sandths 3. Use words to write the number that is expressed in digits: 4.284 4. Use words to write the number that is expressed in digits: 12.7344 5. Round the monetary amount to the nearest cent: $41.875 6. A check register shows the current cash balance to be $1,260.40. A check was written after this cash bal- ance date for $193.84. Compute the new cash balance shown in the check register. 7. A check register shows a balance of $3.75 before adding two deposits of $0.91 and $210.35, and writing two checks for $147.98 and $39.46. Compute the new cash balance shown in the check register. 8. A bank statement shows a balance of $2,970.31. The check register of the account owner shows an out- standing deposit of $1,482.93 and outstanding checks of $2,500.00, $1,000.00, and $500.00. Compute the ad- justed cash balance of the bank statement. 18.015 500,006.012 four and two hundred eighty-four thousandths twelve and seven thousand three hun- dred forty-four ten-thou- sandths $41.88 $1,066.56 $27.57 $453.24 9. Compute the reconciled balance: Bank statement balance: $1,234.00 Checkbook balance: $1,004.90 Outstanding checks: $135.42 and 211.68 Automatic transfer to savings: $100.00 Automatic charge, safe deposit box: $18.00 $886.90 10. Compute the reconciled balance: Bank statement balance: $642.75 Checkbook balance: $685.23 Outstanding checks: $14.82 and $117.70 Outstanding deposit: $125.00 Automatic transfer to savings: $50.00 $635.23 11. Compute the reconciled balance: Bank statement balance: $137,614.28 Checkbook balance: $ Outstanding deposits: $23,618.20 and $31,046.12 Outstanding checks: $17,249.17, $52,076.14, and $997.38 $121,955.91 12. Change the percent to a decimal or mixed/whole num- ber: 250% 2.5 13. Change the fraction to a percent: 7/8 87.5% 14. Change the decimal to a percent: 0.27 27% 15. Change the percent to a decimal or mixed/whole num- ber: 0.25% 0.0025 16. Solve the following problem for the percentage. 120% of $12 = $14.40 17. Solve the following for the base. Round the amount to $17 the nearest two decimal places. 25% of = $4.25