Problem Solving
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| The Social Security tax deduction is withheld at a rate on 6.2%. If Sarah's gross pay this week is $800. How much Social Security tax will be withheld from her paycheck? | $49.60
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| Jalen deposited $1,000 in a savings account that pays interest at 3% compounded annually. What will be the balance in the account at the end of one year? | $1,030
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| Brad purchase a used car for 4% less than the dealers asking price of $16,000. How much did Brad pay for the car | $15,360
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| In Jan, Josh opened a savings account and made a deposit of $1,600. Each month from Feb-July made additional deposits of $100.00. From Aug- Dec, he made monthly deposits of $150.00? What was the total amount that he deposited over the year? | $2,950
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| Justin earn an annual salary of $48,000, which is paid monthly. Following deductions include: ..... What is Justin's net pay for the month? | $2,552
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| Paul invested $10,000 and expects to earn %6 on the investment. Using the Rule 72, approximately how many years will it take for Paul's investment to be worth $20,000 | 12
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| Ellen deposited $5,000 in a savings account that pays 4% interest compounded quarterly. What will be the balance in the account at the end of 6 months. | $5,100.50
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| Michael both 100 shares of stocks at $40 per share and paid a $30 broker;s commission.... What was Michael's rate of return on the stock investment | 21%
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| Sally borrows %250 and will pay interest at an annual rate of 12%. If the loan is to be paid back in 6 months, what is the dollar cost of the interest on this loan? | $15
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| The annual interest rate is 12%. The borrower paid a total of $720 in interest and repaid the loan in 24 months. What was the principal? | $3,000
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| Calculate the approximate APR to two places using the following information............. | 14.77%
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| The annual interest rate on your credit card is 21%. What is the monthly rate? | 1.75%
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| Yuri's credit account account has a monthly interest rate of 1.5%. His previous balance was $500 and he paid $300. What will the finance charges be if the creditor uses the adjusted balance method? | $3
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| Identify two sources of information about businesses and complaints that have been filed against them. What are some other sources for obtaining information about a business | Federal Trade Commission and Consumer Reports
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| Mackenzie wants to purchase a sofa for $900....If Mackenzie produces the required amount, what will be the amount of the loan she receives from her brother. | $225
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| On Jan 30, 2014 your parents let you $400. On Jan 30, 2015, you repaid the loan by writing your parents a check for $432. What was the annual interest rat your parents charged you for that loan? | 8%
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| The average daily balance on your credit card statement this month is $300. If the annual finance charge on your account is 18%, what will the finance charge be on you statement this month? = | $450
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| Alicia's credit card statement for July read as follows:.... What is the new balance on Alicia's credit card statement for July ? | $495.50
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| Jerry needs some quick cash, he pawns his ring which is appraised at $750. The broker agrees to give Jerry a loan for 15%. What is the amount of the loan the broker made to Jerry? | $112.50
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| Ryan earned $17,000 at his job last year. He pays 15% of his income as taxes. What amount did Ryan pay in taxes last year. | $2,550
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| Sales taxes in your community is 6%. If you go to a sporting good store and buy a soccer ball for $19,95, headband for $10.00, what amount will you pay once the sales tax id added to your purchase. | $38.05
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| Sue earned $21,000 at her waitress job last year; she also made $7,000 in tips. She earned $95 interest on her savings and a $5000 gift from her father. Find Sue's gross income for the year? | $28,095
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| Use the following information to calculate a taxpayer's taxable income:................. | $3500
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| All the taxable income you receive is called _________income. | gross
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