# CTE Resource Center - Verso - Office Specialist III--Preparation Task 1754130549

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Compute interest, commissions, and discounts.

Definition

Computation should include
  • using the simple interest formula (interest = principle x rate x time)
  • using multiplication for percentages in calculating commissions
  • using subtraction for a price reduction and multiplication for a percentage discount.

Related Standards of Learning

Mathematics

A.4

The student will solve
  1. multistep linear and quadratic equations in one variables algebraically;
  2. quadratic equations in one variables algebraically;
  3. literal equations for a specified variable;
  4. systems of two linear equations in two variables algebraically and graphically; and
  5. practical problems involving equations and systems of equations.

Other Related Standards

FBLA Competitive Events and Activities Areas

Accounting I

 

Accounting II

 

Business Calculations

 

Business Skills and Knowledge

 

Computer Applications

 

Database Design & Applications

 

Introduction to Financial Math

 

Spreadsheet Applications

 

Word Processing

 

NBEA Achievement Standards for Computation

Calculate bank discount and proceeds on a discounted note.

 

Calculate compound interest and the resulting compound amount at the maturity date for savings and investments.

 

Calculate gross earnings (e.g., salary, hourly rate, commission, per diem, tips, or production).