AnswersCARE_24_25_TX-Mathematical Models with Applications AUnit Test

Unit Test — Unit test Answers

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Stacy thinks her employer may not be withholding the correct amount from her paychecks for state income tax. She made arrangements to have 19% of federal income tax withheld for state income tax. On her last paycheck, the federal withholding was $163.88 and her state income tax withholding was $24.58. Which of the following statements is true?

A
Stacy’s employer is withholding the correct amount for state income tax.
B
Stacy’s employer is withholding too little for state income tax.
C
Stacy’s employer is withholding too much for state income tax.
D
Stacy’s employer should not be withholding state income tax.
22
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Robert is looking to buy a deep fryer. He has narrowed his search down to two models. The following table gives the details of the prices, cost per use in electricity and oil, and lifespan of the two models Robert is considering to purchase. Brand Brand P Brand Q Price $144.00 $37.50 Avg. Cost/Use $0.49 $0.75 Lifespan 6 years 2 years Robert plans on using his deep fryer about eight times per month. After six years, which brand will have the lower lifetime cost, and by how much? Hint: Assume that either deep fryer can be repurchased at the same price, if needed to provide the desired length of service.

A
Brand P will be $118.26 cheaper than Brand Q.
B
Brand P will be $149.76 cheaper than Brand Q.
C
Brand Q will be $184.50 cheaper than Brand P.
D
Brand Q will be $31.50 cheaper than Brand P.
23

What is the most suitable option for Norm to invest his $15,000, considering his daughter's upcoming college plans and the associated interest rates?

A
A four-year CD paying 4.8% interest, with a substantial penalty for early withdrawal
B
An online savings account offering 2.3% interest
C
A money market account paying 3.5% interest, renewable for three-month commitments
D
A checking account with no monthly fees
24

Robert makes $951 gross income per week and keeps $762 of it after tax withholding. How many allowances has Robert claimed?

Question illustration
A
One
B
Two
C
Three
D
Four
25

Some online banks offer “online bill pay.” What does this mean?

A
There is a fee associated with online banking, but the bank will waive that fee as an incentive.
B
You can visit your bank account online and electronically transfer funds to pay your bills.
C
The bank will automatically pay your internet bill as a reward for banking with them.
D
You can use that bank account, and only that bank account, to pay for purchases you make online.

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