Nov / 19

Check my answers please . (:?

                        Compounding interest means interest accrues _____.  (1 point)
more quickly
more slowly
at the same rate
at variable rates throughout the term***
2.   Salaried employees _____.  (1 point)
are paid at an hourly rate for 40 hours/week
make more money per hour than hourly employees
receive better benefits than hourly employees
are paid a set amount for a set number of work hours***
3.   An example of a voluntary deduction is _____.  (1 point)
charitable contributions***
federal tax withholding
state tax withholding
worker’s compensation
4.   To calculate discretionary money, you ____.  (1 point)
calculate the difference between your gross pay and net income
calculate the difference between your gross pay and fixed expenses
calculate the difference between your net income and fixed expenses***
calculate the sum of your net income and fixed expenses
5.   When you spend more than you make, you have a(n) _____.  (1 point)
6.   You work 40 hours/week for 52 weeks and are given the option to be paid hourly or to go on salary. In which situation will you earn the most?  (1 point)
$32,000/year with a 10% bonus
$17.00/hour and a $1,000 bonus at the end of the year***
7.   If you have 12% withheld for federal taxes, 7% for state taxes, and FICA is 7.65%, how much are your involuntary withholdings in all if your gross pay was $1,375.00 and your net income was $725.00?  (1 point)
8.   What is the total of your discretionary expenses?





Utility bill


Credit card




Khakis (not required for work)


 (1 point)
9.   You work at the Peacock Blue store 40 hours/week over five days at a rate of $10.25/hour. Deductions are FICA (7.65%), federal withholding (15%), and state withholding (10%). Your expenses are transportation at $5.25/day, lunch at $3.85/day, and black slacks required for work at $19.95. How much is your discretionary income for one week?  (1 point)
10.   You purchase a computer for $755.00 plus 5% sales tax. You decide to finance it through the store's 0% program for six months. The terms state you must pay $50.00/month and that if you miss a payment, you will be assessed a late fee of $39.00 plus the interest accrued to that point at a 17.25% APR. If you miss a payment in the fifth month, how much interest will you be charged?  (1 point)
Please check and dont be mean . thanksss <3