- Study guides, Class notes & Summaries

Abeka Business Math Test 10 & 11 Exam Questions And Answers

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2 pages

Written in 2024/2025

Grade A+

biggdreamer

Abeka Business Math Test 9 Exam Questions With Complete Solutions

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2 pages

Written in 2024/2025

Grade A+

biggdreamer

Abeka Business Math Test 5 Exam Questions With Correct Answers

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3 pages

Written in 2024/2025

Grade A+

biggdreamer

Abeka Business Math Test 3, 8 & 9 Exam Questions With Correct Answers

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5 pages

Written in 2024/2025

Grade A+

biggdreamer

Solution Manual For Business Math, 11th Edition by Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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243 pages

Written in 2024/2025

Grade A+

MedConnoisseur

corporation - ANSWER-A business that is owned by many investors. graduated income tax - ANSWER-tax on earnings that charges different rates for different income levels balance - ANSWER-The amount of money you have in your account. transit number - ANSWER-Number that identifies the check deposit slip - ANSWER-A form you fill out to credit money to your account when you make a deposit. Find the % of increase or decrease 1 )$5.00; $6.00 2) 25 people ; 20 people 3) 900 votes; 700 ...

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2 pages

Written in 2023/2024

Grade A+

lectknancy

Periodic Rate - ANSWER-The APR expressed over a shorter period of time Credit - ANSWER-Ability of a consumer to obtain goods or services before payment, based on an agreement to pay later Unsecured Loan - ANSWER-Loan not backed with collateral APR - ANSWER-Annual Percentage Rate Credit Limit - ANSWER-The maximum amount of money that can be charged to a given credit card account at any given time. Incentives - ANSWER-Perceived benefits that encourage certain behaviors Deposit - ...

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5 pages

Written in 2023/2024

Grade A+

lectknancy

Juan Mendoza's credit card statement for October showed a previous balance of $239.80, new purchases of $174.50 and payments and credits of $95. The card's annual percentage rate is 24%. The company uses a daily periodic rate. What is Juan's finance charge and new balance for October using the previous balance method? - ANSWER-.24/365= .0007 * 31 = .020 * 239.80 = $4.89 Finance Charge 4.89 + 239.80 + 174.50 - 95 = $324.19 New Balance Ula Johan borrowed $250 on a cash advance from her cre...

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3 pages

Written in 2023/2024

Grade A+

lectknancy

Beneficiary - ANSWER-Designed to receive the proceeds Reasons health insurance is expensive - ANSWER-No incentive economize, medical care is sophisticated, high malpractice insurance costs Term Life Insurance - ANSWER-life insurance that pays a benefit in the event of the death of the insured during a specified term. cash-value life insurance - ANSWER-has a savings component and builds cash values Primary advantage of term life insurance - ANSWER-Affordability Patient Protection a...

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6 pages

Written in 2023/2024

Grade A+

lectknancy

Unit 4.1: Basics of Managing Credit - ANSWER-Unit 4.1: Basics of Managing Credit How to build credit as a student? - ANSWER-Make payments on time, payoff balance, dont let balances grow, dont open/close acc frequently How to reduce hard inquiries? - ANSWER-14 day period=1 inquiry Harms credit less How to calculate net worth? - ANSWER-What you own(assets) - what you owe(liabilities) = net worth What are the 3 main credit agencies? - ANSWER-Experian, Transunion, Equifax Wh...

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4 pages

Written in 2023/2024

Grade A+

lectknancy

An obligation of repayment owed by one party to a second party. - ANSWER-Debt Credit - ANSWER-The granting of a loan and the creation of debt; any form of deferred payment Interest - ANSWER-a fixed charge for borrowing money Economy - ANSWER-A system by which goods and services are produced and distributed Loan - ANSWER-A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment Personal Finance - ANSWER-All of the decisions and activi...

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7 pages

Written in 2023/2024

Grade A+

lectknancy

Ms. Bolton invests $6000 into an account earning 7% per year simple interest. How many years will it take for the future value to become $7134? (round to one decimal place) - ANSWER-1.1 years Solution A = 7134 P = 6000 r = .07 t = t 1) 7134 / 6000 2) 1.189 / 1 + .07 = 1.1 Bryce wants to put money in a savings account now so that he will have $1800 in 5 years. The savings bank pays 6% interest compounded quarterly. How much should he invest? - ANSWER-$561.25 Solution m = 4 t = ...

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4 pages

Written in 2023/2024

Grade A+

lectknancy

5.1.7. Find the simple interest. $1974 at 6.3% for 25 weeks - ANSWER-$59.79 5.1.11. Find the maturity value and the amount of simple interest earned. $3125 at 2.85% for 7 months - ANSWER-$3176.95; $51.95 5.1.13. Find the maturity value and the amount of simple interest earned. If $1500 earned simple interest of $56.25 in 6 months, what was the simple interest rate? - ANSWER-7.5% 5.1.33. Find the present value (the amount that should be invested now to accumulate the following a...

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7 pages

Written in 2023/2024

Grade A+

lectknancy

double time - ANSWER-An overtime pay time of twice the regular hourly rate. time and a half - ANSWER-An overtime pay rate of 1 1/2 times the regular hourly rate. Straight-time pay - ANSWER-The total amount of money earned for a pay period at the regular hourly rate. Hourly rate - ANSWER-a fixed amount of money paid for each hour of work. service - ANSWER-useful labor that does not produce a tangible commodity Gross Income - ANSWER-the total amount paid during a pay period Overt...

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2 pages

Written in 2023/2024

Grade A+

lectknancy

Formula for markup - ANSWER-Selling price = Cost + Markup (S=C+M) Formula for markup on cost - ANSWER-Markup on cost = Amount of markup/ Cost Formula for selling prices as a percent of cost - ANSWER-Selling price as percent of cost = Selling price / Cost Formula for percent of Markup on cost - ANSWER-Selling price percent = 100% + Markup percent Formula for cost when cost is base - ANSWER-Markup = Percent of markup x Cost Formula for cost when selling price is base - ANSWER-Markup...

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2 pages

Written in 2023/2024

Grade A+

lectknancy

Fractions - ANSWER-Part of a whole number Proper Fractions - ANSWER-Numerator is less than the denominator Improper Fractions - ANSWER-Numerator is greater than the denominator Mixed Number - ANSWER-Sum of a fraction and a whole number Lowest Terms - ANSWER-If the numerator & denominator can't be divided by any number other than 1 or itself Like Fractions - ANSWER-Fractions with the same (common) denominator Unlike Fractions - ANSWER-Fractions that have different denominators ...

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6 pages

Written in 2023/2024

Grade A+

lectknancy

Constants - ANSWER-Numbers that have a fixed value. Equation - ANSWER-Math statement that shows equality for expressions or numbers. Expression - ANSWER-A meaningful combination of numbers and letters called terms. Formula - ANSWER-Equation that expresses in symbols a general fact, rule, or principle. Unknown - ANSWER-The variable we are solving for. Variables - ANSWER-Letters or symbols that represent unknowns. Base - ANSWER-Number that represents the whole 100%. It is the who...

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4 pages

Written in 2023/2024

Grade A+

lectknancy

the simple interest formula is i=prt - ANSWER-true 1/2% written as a decimal is .5 - ANSWER-false the stock market is safer for your investment than a certificate of deposit - ANSWER-false a certificate of deposit is a demand deposit - ANSWER-false time in the simple interest formula is in terms of years - ANSWER-true the daily-interest method in a savings account means the bank calculates your interest based upon the amount in your account at the end of the interest period - ANSW...

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3 pages

Written in 2023/2024

Grade A+

lectknancy

break-even point - ANSWER-the point of no profit and no loss assets - ANSWER-anything that has worth to a business accounts payable - ANSWER-money owed by a business quick ratio - ANSWER-Cash + Receivables/Current Liabilities capital - ANSWER-assets minus liabilities debit - ANSWER-dollar amount that is recorded in the left column of the general journal invoice - ANSWER-itemized shipping bill listing goods, prices, shipping charges, and any other charges that apply stockbrok...

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4 pages

Written in 2023/2024

Grade A+

lectknancy

An order for the bank to pay money - ANSWER-(C) check True value of real estate - ANSWER-(H) market value Checking form used to put money in an account - ANSWER-(D) deposit slip Tax rate expressed as per $1,000 units - ANSWER-(I) mills Money in a bank account - ANSWER-(B) balance Value of real estate for tax purposes - ANSWER-(A) assessed value Check that has not been processed by the bank - ANSWER-(J) outstanding check Number that identifies a check - ANSWER-(M) transit ...

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3 pages

Written in 2023/2024

Grade A+

lectknancy