Personal Finances Answers

Household Medical Entertainment Loans InsurancePersonal Misc. $850$210$50$43.12$0$125$78$62Totals:$1,060$50$43.12$0$125$78$62You recorded the actual expenses you incurred for a previous month in the above table. Determine your monthly budget based on the expenses given.

You are an advertising sales agent for the multimedia firm Mevision. Besides receiving an annual salary, you earn a 3% commission on sales. If you sell $15,625 worth of advertising for the month of May, what will your commission be for the month of May?

Given that the federal and state biweekly deductions for a single person making $1,300 with zero withholding allowances working in New York are $174 and $54.70 respectively, determine the net biweekly income.

You are starting a new job as a assistant software designer for Tabby Soft. Your hourly wage is $12.00 per hour, you get time and a half for anything over 40 hours, and double time for holidays. Based on a 5-day work week, 8-hour day, and 52 week year, determine your annual gross base salary.

If the wages are And the number of withholding allowances claimed is At leastBut less than012345678910+The amount of income tax withheld is720740806244261410000074076083654728163000007607808668503118500000780800897153342070000080082092745637220000008208409577594024110000084086098806243261310000The following table shows the federal income tax for a single person for a biweekly payroll period withheld in 2005.Find the amount of taxes withheld for a single person with 4 withholding allowances claimed making $800 per payroll period.

It's the holiday season and you are working for a packing company that specializes in holiday fruit cakes. For Christmas this year, the number of clients requesting fruit cakes has more than tripled and orders need to be shipped prior to the New Year. Your supervisor has asked you to work 15 hours more than a normal 40 hour work week, including Christmas day, which falls on a Friday. Therefore, one of your regular 8 hour days will be paid at the holiday rate. You get paid $10.00 per hour plus you get time and a half for overtime and double pay for the holidays. What will your gross base pay be for the week?

You just received a raise after working for your company for a year. Your new hourly wage is $12.50. If you are paid biweekly and you work a normal 40 hour week, what is your base salary per pay period?

You plan on purchasing a new LCD television that cost $890 plus 8.1% tax. How much is the total cost of the television after tax?

How is the total price including sales tax calculated?

You have caught a bad cold and have to take time off of work to get well. Each week you normally work 8 hours a day for 5 days at $15.00 per hour. If you take a day to get well by not going to work and your pay period is every two weeks, how much less will your next paycheck be given that you miss a day?

You are an advertising sales agent for the multimedia firm Mevision. Besides receiving an annual salary, you earn a 3% commission on sales. If you sell $15,625 worth of advertising for the month of May, what will your commission be for the month of May?

You have just hired a new employee, Tim, to oversee the production of your new line of water bottles. Tim is a full-time employee working 40 hours a week, 52 weeks per year. Tim's hourly wage is $8.00 an hour and you would like to factor his annual base salary into your yearly expenses. What amount should you budget for, given Tim's base hourly wage?

How is commission calculated? a. c. b. d. Please select the best answer from the choices provided

If the wages are And the number of withholding allowances claimed is At leastBut less than012345678910+The amount of income tax withheld is720740806244261410000074076083654728163000007607808668503118500000780800897153342070000080082092745637220000008208409577594024110000084086098806243261310000The following table shows the federal income tax for a single person for a biweekly payroll period withheld in 2005.Find the amount of taxes withheld for a single person with 2 withholding allowances claimed making $799 per payroll period.

You plan on purchasing a new home in the near future. You want to place 10% down on the home and finance the remaining balance. The home that you are interested in is priced at 115,732.80 and your monthly gross salary is $2,624.00. Given that monthly expenses total $1,150.12, Social Security is 6.2% of your biweekly income, Medicare is 1.45% of your biweekly income, you pay State and Federal taxes in the amount of $53.00 and $101.35 respectively biweekly, determine in how many months you will have to save for, so that you can place a down payment of 10%. Round your answers to the nearest cent and to the nearest month.

Social Security is 6.2% of your total income. Suppose that your weekly pay is $850. For any given month, what is your total contribution to Social Security? Hint: Assume there are 4 weeks in a month.