Personal Finance: Fill in the Blank (number)

Ryan earned $17,000 at his job last year. He pays 15 percent of his income as taxes. What amount did Ryan pay in taxes last year?

$2,550

Last week, Josie worked 45 hours at her job. Her regular hourly rate is $10. What was Josie's gross pay last week if her company paid the typical rate of overtime pay?

$475

The annual interest rate on your credit card is 21 percent. What is the monthly rate?

1.75%

Martin is a salaried employee who earns $30,000/year. He is paid on the 1st and 15th of every month. What is his gross pay per paycheck?

$1,250

Use the following information to calculate a taxpayer's adjusted gross income: Gross income: $15,000 Adjustments: $950 Itemized deductions: $6,000 Exemptions: $3,400

$14,050

Take-home pay is about 70 percent of gross pay. If your annual salary is $40,000, what is your annual take-home pay?

$28,000

Sue earned $21,000 at her waitress job last year; she also made $7,000 in tips. In addition, Sue earned $95 interest on her savings account and received a $500 gift from her father. Find Sue's gross income for the year.

$28,095

Last week Andy worked 44 hours at his job. His regular hourly rate is $12 and his employer pays the typical rate for overtime. He had the following deductions: ​ Federal income tax: $40.00 State income tax: $25.00 Social Security tax: $34.22 Medicare tax: $8.00 Health insurance: $15.00 ​ Calculate Andy's net pay for the week.

$429.78

Marti begins the month with a checking account balance of $700. She writes three checks: one for $43.50, one for $90.00, and one for $250.00. She makes one deposit, for $300. Her bank charges her a $0.20 fee for each check she writes. She also pays a monthly account fee of $5.00. What is the balance of Marti's account at the end of the month?

$610.90

Ted begins the month with a checking account balance of $1,400. He writes five checks: one for $350.45, one for $200.01, one for $11.53, one for $68.10, and one for $177.37. He makes two deposits, each for $450. His bank charges him a $0.25 fee for each check she writes. He also pays a monthly account fee of $5.00. What is the balance of Ted's account at the end of the month?

$1,486.29

The Medicare deduction is withheld at a standard rate of 1.45 percent. Suppose your gross pay this week is $750. How much Medicare tax will be withheld from your paycheck?

$10.88

Suppose your bank charges you a monthly fee of $8.00 plus 15 cents for each check you write. If you write three checks every month, how much will you pay your bank in fees over the course of one year?

$101.40

Use the following information to calculate Diana's net worth: ​ Savings account: $2,500 Checking account: $400 Car value: $5,000 Personal property value: $5,500 Loan for vacation: $2,000 Loan from grandparents: $250

$11,150

Sally borrows $250 and will pay interest at an annual rate of 12 percent. If the loan is to be paid back in six months, what is the dollar cost of the interest on this loan?

$15

Jack and Diane are setting up a credit payment plan. They have disposable income of $250/month with which to pay credit card bills. The minimum monthly payments for their bills are as follows: Credit card 1: $50 Credit card 2: $60 Credit card 3: $20 Credit card 4: $15 Suppose credit card 1 is the highest priority. What should their monthly payment be on this card?

$155

Use the following information to calculate Diana's liabilities: Savings account: $2,500 Checking account: $400 Car value: $5,000 Personal property value: $5,500 Loan for vacation: $2,000 Loan from grandparents: $250

$2,250

Use the following figures to find Barney's expenses for June: Part-time job salary (after taxes): $300 Allowance for household chores: $25 Birthday check from parents: $25 Savings: $100 Cost of new shirt and pants: $80 Cost of two movies: $20 Cost of daily lunches: $100

$200

Yuri's credit 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

The annual interest rate is 12 percent. The borrower paid a total of $720 in interest and repaid the loan in 24 months. What was the principal?

$3,000

Use the following information to calculate a taxpayer's taxable income: Gross income: $13,000 Adjustments: $750 Standard deduction: $5,350 Exemptions: $3,400

$3,500

The Social Security deduction is withheld at a standard rate of 6.2 percent. Suppose your gross pay this week is $500. How much Social Security tax will be withheld from your paycheck?

$31

Use the following figures to find Barney's income for June: Part-time job salary (after taxes): $300 Allowance for household chores: $25 Birthday check from parents: $25 Savings: $100 Cost of new shirt and pants: $80 Cost of two movies: $20 Cost of daily lunches: $100

$350

Erin does not have to pay a fee if she uses her own bank's ATM, but she must pay a $2.00 fee if she uses another bank's ATM. If Erin makes 76 ATM transactions over the course of a year, and 25 percent of them are at another bank's machine, how much will she pay in ATM fees?

$38.00

Sales tax in your community is 6 percent. If you go to a sporting goods store and buy a soccer ball for $19.95, socks for $5.95, and a headband for $10.00, what amount will you pay once the sales tax is added to your purchase?

$38.05

The Girard family decides to save 10 percent of their income each month. If their monthly income is $4,000, how much will they save over the course of one year?

$4,800

Ahmed's take-home pay is 75 percent of his gross pay. His annual salary is $50,000. Use the 20/10 Rule to determine his maximum borrowing.

$7,500

Gary purchased two money orders from his bank: one for $41.50 and one for $32.65. Each money order cost one dollar. What is the total amount Gary spent at the bank?

$76.15

Paolo is paying off a credit card with a current balance of $450. The interest rate on the card is 23%. The minimum monthly payment is $25, but he plans to make monthly payments of $45. He will not be using the card to accumulate further debt. Approximately how many months will it take to pay off the balance?

11

Calculate the approximate APR to two decimal places using the following information: Number of payment periods in one year: 12 Finance charge: $72 Principal: $900 Total number of payments to pay off loan: 12

14.77%