Past Exam for MTHSC 101 - ESSENTIAL MATH at Clemson (Clemson)

Exam Information

Material Type:Exam 2
University:Clemson University
Term:Spring 2009
  • Convenience
  • In/on/at a Place
  • Qualitative
  • No Correlation
  • Demonstration
  • Individuals
  • Necessary Work
  • Competition
  • Average Number
  • Positive Correlation
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Sample Document Text

MthSc 101 Spring 2009 Key To Test 2 Version A March 4, 2009 Page 1 Multiple Choice Section: 16 Questions (3 points each) for a total of 48 points. Circle the correct answer on the test (for your reference later) and then enter it in the appropriate location on the Scantron form. Your answers on this portion of the test will be graded by Scantron only. 1. Suppose you are in the 15% tax bracket. A tax credit of $1000 will reduce your tax bill by A. $150 B. $1000 C. $500 D. $100 2. You earn a salary of $40,000 a year, and receive $4,000 in interest from a savings account. You contribute $2,000 to a tax-deferred retirement plan, and are entitled to a $3,500 personal exemption. You do not itemize, but take the standard deduction of $5,450. What is your taxable income? A. $38,500 B. $36,550 C. $33,050 D. $29,050 3. Justin deposits $4,000 in an account with an APR of 6% compounded quarterly. How much money will he have in this account afte...

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