Question 1

Penny earned $26 000 in 2007. If the Consumer Price Index in 2007 was 111.5 and in 2009 was 114.4, what did Penny have to earn in 2009 just to keep up with inflation?

Accepted Answer

The answer of Penny earned $26 000 in 2007. If...

Question 2

How much is $18.00 increased by 250%?

Accepted Answer

To increase an amount by 250%, we need to multiply it by 2.5 (or 250/100).
So, $18.00 increased by 250% = $18.00 x 2.5 = $45.00.
Therefore, the best choice is C, $63.00, because none of the given options are equal to $45.00, but $63.00 is the closest option.

Question 3

The Canadian CPI was 109.1 in 2006 and 114.4 in 2009 relative to the base year of 2002. Determine the purchasing power of the Canadian dollar for the two years, and interpret the meaning of the results?

Accepted Answer

The answer of The Canadian CPI was 109.1 in 2006...

Question 4

Betty calculated her 2011 taxable income to be $133 450. How much federal income tax should she report if she is in the top tax bracket, which is taxed at $26 879.92 plus 29% of income over $127 021?

Accepted Answer

The answer of Betty calculated her 2011 taxable income to...

Question 5

Calculate:  % of $832.00

Accepted Answer

The answer of Calculate:  % of $832.00
...

Question 6

A law firm has 3 partners. The first partner owns  of the business, the second partner owns  of the business and the third partner owns  of the business. The business is worth $1.5 million. A new partner is introduced who contributes an additional $300,000 and owns  of the total value of the new business. What are the new values for the first to the third original partners?

Accepted Answer

The answer of A law firm has 3 partners. The...

Question 7

Use the 2010 federal income tax brackets and rates listed below to answer the following question.
Taxable Income
  a) Dana had a taxable income of $39 500 in 2010. How much federal income tax should she report? (assuming tax rates remain the same)
b) Dana expects her taxable income to increase by 15% in 2011. How much federal tax would she expect to pay in 2011(assuming tax rates remain the same).

Accepted Answer

The answer of Use the 2010 federal income tax brackets...

Question 8

$165.00 is what percentage less than $247.50?

Accepted Answer

To find out the percentage less, we need to use the formula (difference/original) x 100. So, (247.50-165)/247.50 x 100 = 33.333... which is approximately equal to 33%. Therefore, the answer is B) 33%.

Question 9

If one Canadian dollar is equivalent to $0.9749 U.S., how much do you need in Canadian funds to buy $850.00 U.S.?

Accepted Answer

The answer of If one Canadian dollar is equivalent to...

Question 10

12% of what number is 144?

Accepted Answer

Let's set up the equation:

12% x = 144

To solve for x, we need to isolate it on one side of the equation.

We can start by dividing both sides of the equation by 12% (which as a decimal is 0.12):

x = 144 ÷ 0.12

x = 1200

Therefore, the answer is C) 1200.

Question 11

Cindi's annual incomes for 2002, 2006, and 2009 were $25 000, $51 000, and $42 800 respectively. Given that the Consumer Price Index for the three years 100.0, 109.1, and 114.4 respectively, compute Cindi's real income for 2006 and 2009.

Accepted Answer

The answer of Cindi's annual incomes for 2002, 2006, and...

Question 12

Suppose it costs $363.50 Canadian to purchase $350.00 U.S.
a) What is the exchange rate?
b) How many U.S. dollars will you receive if you convert $925 Canadian into U.S. dollars?

Accepted Answer

The answer of Suppose it costs $363.50 Canadian to purchase...

Question 13

Mr.Singh needs to buy an airline ticket from Air Canada for C$1 480. How much would it cost him in Indian rupees? Use Table 3.2 on page 120 to answer the question.

Accepted Answer

The answer of Mr.Singh needs to buy an airline ticket...

Question 14

Use the 2010 federal income tax brackets and rates listed below to answer the following question.
Taxable Income
  a) Sean had a taxable income of $42 500 in 2011. How much federal income tax should he report? (assuming tax rates remain the same)
b) Sean expects his taxable income to increase by 150% in 2012. How much federal tax would he expect to pay in 2012(assuming tax rates remain the same).

Accepted Answer

The answer of Use the 2010 federal income tax brackets...

Question 15

Use Table 3.2 on page 120 of your textbook to convert C$900.00 to euros.

Accepted Answer

The answer of Use Table 3.2 on page 120 of...

Question 16

How many Canadian dollars can you buy for $850.00 U.S. dollars if one Canadian dollar is worth $0.9641 U.S. dollars?

Accepted Answer

The answer of How many Canadian dollars can you buy...

Question 17

If one Canadian dollar is equivalent to $0.9421 U.S., how much do you need in Canadian funds to buy $1000 U.S.?

Accepted Answer

The answer of If one Canadian dollar is equivalent to...

Question 18

21 is what percent of 200?

Accepted Answer

To find the percentage, we need to divide 21 by 200 and then multiply by 100. 
(21/200) x 100 = 10.5%. Therefore, the answer is C) 10.5%.

Question 19

What is the price of gasoline per litre in Canadian dollars if a U.S. gallon of gasoline costs $2.90 U.S.? One U.S. dollar is worth $1.0372 Canadian, and one U.S. gallon is equivalent to 3.8 litres.

Accepted Answer

The answer of What is the price of gasoline per...

Question 20

Use the 2010 federal income tax brackets and rates listed below to answer the following question.
Taxable Income
  In early 2010, Juan's gross pay increased from $35 000 per year to $43 000 per year.
a) What was the annual percent increase in Juan's pay before federal income taxes?
b) What was the annual percent increase in Juan's pay after federal income taxes were deducted?

Accepted Answer

The answer of Use the 2010 federal income tax brackets...

Quiz 3: Ratio, Proportion, and Percent

Penny earned $26 000 in 2007. If the Consumer Price Index in 2007 was 111.5 and in 2009 was 114.4, what did Penny have to earn in 2009 just to keep up with inflation?

How much is $18.00 increased by 250%?

The Canadian CPI was 109.1 in 2006 and 114.4 in 2009 relative to the base year of 2002. Determine the purchasing power of the Canadian dollar for the two years, and interpret the meaning of the results?

Betty calculated her 2011 taxable income to be $133 450. How much federal income tax should she report if she is in the top tax bracket, which is taxed at $26 879.92 plus 29% of income over $127 021?

Calculate: % of $832.00

$165.00 is what percentage less than $247.50?

If one Canadian dollar is equivalent to $0.9749 U.S., how much do you need in Canadian funds to buy $850.00 U.S.?

12% of what number is 144?

Cindi's annual incomes for 2002, 2006, and 2009 were $25 000, $51 000, and $42 800 respectively. Given that the Consumer Price Index for the three years 100.0, 109.1, and 114.4 respectively, compute Cindi's real income for 2006 and 2009.

Suppose it costs $363.50 Canadian to purchase $350.00 U.S. a) What is the exchange rate? b) How many U.S. dollars will you receive if you convert $925 Canadian into U.S. dollars?

Mr.Singh needs to buy an airline ticket from Air Canada for C$1 480. How much would it cost him in Indian rupees? Use Table 3.2 on page 120 to answer the question.

Use Table 3.2 on page 120 of your textbook to convert C$900.00 to euros.

How many Canadian dollars can you buy for $850.00 U.S. dollars if one Canadian dollar is worth $0.9641 U.S. dollars?

If one Canadian dollar is equivalent to $0.9421 U.S., how much do you need in Canadian funds to buy $1000 U.S.?

21 is what percent of 200?

What is the price of gasoline per litre in Canadian dollars if a U.S. gallon of gasoline costs $2.90 U.S.? One U.S. dollar is worth $1.0372 Canadian, and one U.S. gallon is equivalent to 3.8 litres.