Reference no: EM131637287
1. If you earn $15 an hour and you work 35 hours a week, how much do you earn a month?
2. True or False? Working for 4 hours and 15 minutes is the same as working 4.25 hours.
3. What is the annual value of a 401(k) plan in which the employer agrees to match 3.5% if the employee contributes $10,000?
4. What is the true hourly wage of a job that pays $18 per hour and allows 20 hours of paid time off for every 500 hours worked?
5. A barber working 8 hours a day must make $10 an hour to cover his expenses. Suppose he makes $12 per haircut. How many haircuts must he do each day (8 hours) to ensure he will cover his expenses?
6. A person mailing postcards earns a fixed amount for each postcard he mails, and yesterday his average hourly wage was $14.00 an hour. If he worked 5 hours yesterday and mailed 300 postcards, how much does he earn for each postcard mailed?
7. What is the y-intercept in the equation y = 45x + 65?
8. A writer gets paid monthly at a rate of $300 for each article she completes. Last month she wrote 11 articles. How much money did she get paid last month?
9. If you sell 30 items at $200 a piece and your commission rate is 20%, how much commission do you earn?
10. If your base pay is $10,000, your commission rate is 40%, you sell 15 cars, and you earn $40,000, how much does each car cost?
11. Consider a job that pays $100,000 per year. Federal income tax is 19%, and state income tax is 7%. What is the annual total of the required deductions of federal and state income tax?
12. If a job pays $45,000 per year, you live in a state where your total tax burden is 22%, and you receive a weekly paycheck, what is your take-home pay from each paycheck?
13. True or False? A federal law called FICA requires employers to deduct 6.2% for Medicare and 1.45% for Social Security.
14. How do you calculate take-home pay?
15. After a deduction for dental insurance was taken out, Mike's annual net income went from $65,150 to $65,000. If Mike pays 25% of the cost of his dental insurance plan with his employer covering the rest, how much does his employer contribute toward his dental insurance plan per year?
16. Unemployment is the ratio of .
A. unemployed workers to employed workers
B. unemployed workers to total workers
C. workers to total population
D. workers to nonworkers
17. True or False? The unemployment that follows when something changes the economy so much that there is a mismatch between workers and work is an example of structural unemployment.
18. If a case of 24 water bottles is $8 per case, how much are you paying for each bottle?
19. True or False? IRA is an abbreviation for a popular type of savings account.
20. If Leslie has a total monthly budget of $4000 and spends $500 on a car payment, what percentage of her monthly budget is dedicated to the car payment?