# Financial Algebra Unit 1 Review

## Quiz by Nicki Ross

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19 questions

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- Q1A budget for a school event allocates $500 for decorations, which is 25% of the total budget. What is the total budget for the event?$10000$250$2000$100030s
- Q2A store is having a sale where all items are 20% off. If an item is originally priced at $50, how much will it cost after the discount?$60$10$30$4030s
- Q3A store is offering a 15% discount on all items. If an item is originally priced at $80, how much will it cost after the discount?$68$90$85$7530s
- Q4A company's sales tax rate is 7%. If a customer purchases an item for $50, how much sales tax will they pay?$10$3.50$7$0.3530s
- Q5A company has a profit margin of 20%. If the company's revenue is $500,000, what is its profit?$250,000$50,000$20,000$100,00030s
- Q6A store is having a clearance sale where all items are marked down by 40%. If an item originally costs $80, how much will it cost after the markdown?$32$60$20$4830s
- Q7A company gives a sales commission of 5% on each sale made. If a salesperson makes a sale worth $10,000, how much commission will they earn?$100$1000$500$5030s
- Q8Which of the following is an example of a real-world financial problem that can be modeled using a linear function?Determining the value of a car as it depreciates over timeEstimating the future value of a stock market investmentAnalyzing the impact of inflation on purchasing powerCalculating compound interest on a savings accountCalculating monthly health care premiums over a year.30s
- Q9Which of the following equations represents a linear function?y = x^2 + 3y = 4/xy = sqrt(x) + 2y = 2x - 130s
- Q10A clothing store is having a sale with a discount of 20% off the original price of all items. If a shirt originally costs $25, what is the sale price of the shirt?$15$20$22$1830s
- Q11A customer's phone plan charges a fixed monthly fee of $50 and an additional $0.10 per minute for talk time. Which of the following equations represents the total monthly cost, C, in dollars, for x minutes of talk time?C = 0.10x + 50C = 50 + 0.10xC = x/0.10 + 50C = 50x + 0.10C = 0.10 + 50x30s
- Q12What is the formula for calculating compound interest?A = P(1 + r/n)^(nt)A = P * r * tA = P + (P * r * t)A = P * (1 + r)^t30s
- Q13Which of the following equations represents a linear function?y = 3x^2 + 2y = 3x + 2y = 3/x + 2y = 2^x + 330s
- Q14Which of the following equations represents an exponential function?y = 2^xy = x^2 + 2y = 3x + 2y = 3/x + 230s
- Q15Which of the following is a benefit of saving money in a bank account?Not having access to your money.Paying fees for keeping your money in the bank.The possibility of losing your money.Earning interest on your savings.30s