Test 8 Flashcards
r = 2mi
——
B(n+1)
constant ratio formula
tax on purchase
sales tax
i = prt
simple interest formula
buying on time
installment buying
plan to spend money
budget
real estate tax
property tax
order directing a bank to pay money
check
Employee’s Withholding Allowance Certificate
W-4 form
people that hire other people
employers
identifies check on deposit slip
transit number
social security and medicare tax
F.I.C.A.
Wage and Tax Statement
W-2 form
fee charged for the use of money
interest
earnings after deductions
net pay
checking records
checkbook register
p = $4,000; r = 10%; t = 1 yr.
$4,000(.1)(1) = $400
p = $12,000; r = 9%; t = 4 yr.
$12,000(.09)(4) = $4,320
p = $900; r = 13%; t = 3 mo.
$900(.13)(1/4) = $29.25
p = $500; r = 12 1/2%; t = 1 yr. 6 mo.
$500(.125)(1.5) = $93.75
p = $30,000; r = 10 1/4%; t = 1 yr.
$30,000(.1025)(1) = $3,075
Find the sales tax on $612 at 5%.
Multiply $612 by .05 = $30.60
Find the F.I.C.A tax on $612 at 7.65%.
Multiply $612 by .0765 = $46.818 = $46.82
Find the property tax at 4 1/2% on a house assessed at $25,000.
Multiply $25,000 by .045 = $1,125.00 = $1,125
Find the gross income for 24 hours at $7.25 per hour.
Multiply $7.25 by 24 = $174.00 = $174
Find the gross income for 50 hours at $9.50 per hour with time and a half for all hours over 40.
Multiply $9.50 by 40 = $380.00 9.50 over 1 times 1/2 = Cancellation = 9.50 to 4.75, 2 to 1 $4.75 plus 9.50 equals $14.25 $14.25 times 10 equals $142.50 $380.00 plus 142.50 equals $522.50 Answer is $522.50
