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Topic: Discounts and Prices The local hardware store is having a sale on tools. You notice at the store that there is a DeWalt drill set on sale for 35% off the original retail price. The original retail price is listed at $349.00. Which of the following answers shows the proper discount applied to the drill set? a. b. c. d. $125.00 discount $122.15 discount $127.50 discount None of the above What is the price of the drill set after the discount is applied? a. b. c. d. $226.85 $227.15 $225.69 $224.58 Topic: Loans You are taking out a small business loan to buy start-up equipment for a new greenhouse. The principle amount of the loan is $15,000 and has a small business tax of 11%. How much is the loan, after taxes are applied? a. b. c. d. $1,650.00 $17,000.00 $16,650.00 $17,650.00 If the loan is on a 72 month term, how much would it cost monthly? a. b. c. d. $230.57 $232.45 $231.50 $231.25 Topic: Taxes At the local gardening store, there is a bag of grass seed that costs $45.00. What is the final cost of the bag of grass seed if there is a state sales tax of 6%? a. b. c. d. $47.50 $47.15 $47.70 $47.85 The local hardware store has a high-quality ratchet and screwdriver set for $299.99. What is the sales tax on the set if the state has a sales tax of 11%? a. b. c. d. $32.99 $33.98 $33.90 None of the above. Topic: Principle and Interest The current principal balance on a small business loan you took out is $14,565.56. You are paying a monthly interest rate of 1.9%. How much would the interest rate cost for the current balance on your bill for the month? a. b. c. d. $276.75 $275.55 $277.87 $278.54 You have invested in a savings account that has an annual interest accruing rate of 5.0%. Your current end-of-the-year balance is $5,675.00. How much interest would you earn for the year? a. b. c. d. $282.67 $282.75 $289.56 $283.75 Topic: Structural Applications You need to paint a room that has 4 wall sections that measure 20’ x 10’ and one gallon of paint covers 400 square feet. You are also putting 2 coats on the walls. How many gallons of paint will you need to buy to complete this? a. b. c. d. 3 6 4 2 How many standard sheets (4’ x 8’, or 32 ft2) of plywood would you need to BUY to cover a wall section that measures 45’ x 10’? a. b. c. d. 12 15 14 16 You have a scale drawing of a floor plan that is 10’’ x 15’’, and the scale is ¼’’ = 2 ft. What is the area of the actual life-size floor plan? a. b. c. d. 9600 ft2 9800 ft2 2400 ft2 5600 ft2