Delila Wigg
Student ID 51886497
Math For Business And Finance Final Examination
Examination Number 06044200

1)Bank Balance 2,950.00
Less outstanding ck# 124 (1,080.00)
Less outstanding ck# 138 (720.00)
Add deposit in transit 3,200.00
Adjusted Bank Balance 4,350.00

Book Balance 4,010.00
Less bank fee for checks (12.00)
Less bank fee for NSF (18.00)
Less ATM withdrawal (30.00)
Add Broom note collected 400.00
Adjusted Book Balance 4,350.00
2)5x+7y=85
substitute y for x: 5(15-y)+7y=85
75-5y+7y=85
75+2y=85
2y=10
y=5
So 5 pencils @ $7=$35 plus10 erasers @ $5, or $50, total $85
3) % age change = (1.59-1.10)/1.10 %
= 44.55%
4)Chain Discount received by Morgan = 9/7
Freight charges paid by Lee = $150
Fee Paid by Morgan = $4039
5)Price Pat Sullivan sell to her customers = $85
Amount she paid to the trader = $85 – $ (45/100*85)
= $46.75
6)Gross Pay: $1200
Less Health Ins: (42.50)
Taxable Pay: 1157.50
SS Tax: 71.77 (1157.50 *.062)
Medicare Tax: 16.78 (1157.50 *.0145)
FIT: 91.79
Net Pay: 977.17
FIT calcualted as follows: Taxable less allowances (1157.50 less (71.15*4) = 872.9
(872.9 * .15)-39.15 = 91.79
7) Principal Interest Total
After 15 days, $8000 $26.30137 $8026.30137
Less paid -2000
After 45 days $6026.301 $39.625 6065.926365 -1000 5065.926365
After 60 days add interest $5065.926 16.6551 = $5083
8)Money accepted by Bob Campbell for tome extension granting = $5000
After 120 days Money would be = $5400
Discount Rate = 9%
Total proceedings that Bob acquires = $4914 which is the difference of payment acquire and discounting money