Vocabulary
A plan for how to spend money.
What is a Budget
Benjamin Franklin says 2 two things are certain in life, what are they?
What is death and taxes?
John has a job it pays $7.50 an hour for 40 hours work week. If he works 40 hours each week, how much could John make in four weeks?
What is $1200?
Round 589 to the nearest ten.
What is $590
What is 5% commissions on $1,250
What is $62.50?
Money that is taken out of your paycheck is called?
What is a deduction.
A tax designed to take a larger percentage of income from the wealthy than the poor.
What is Progressive Tax?
If you earn $1,952.00 per month, how much do you earn per year?
What is $23,424?
Round $6,432 to the nearest thousand.
What is $6,000
Change 3.2% into a decimal.
What is 0.032
Your total paycheck after your deductions.
What is net pay.
A tax which takes a higher percentage of income from the poor than from the rich.
What is a Regressive Tax.
If you earn $29,050 per year, how much do you earn per week?
What is $558.65?
Round to the nearest dollar.
$15.04
What is $15?
What is 4.0 or 4?
Tax form given to an employee by the employer that shows total wages made for the year.
What is a W-2?
An argument FOR this type of tax is:
Everyone is equal- pay same % of income.
Name the Tax
What is a Flat Tax?
A salesperson earns a salary of $12,000 per year plus 5% commission on sales of $300,000. His total income for the year is?
What is $27,000?
Round to the nearest cent.
$32.152
What is $32.15?
Katie earns 9% commission on her sales. She makes the following sales:
Belts: $15 each - sold 4
Shirts: $25 each - sold 2
What is her commission on the total sales?
What is $9.90 commission
Total amount of money made before your taxes are deducted?
What is Gross Pay?
This funds a national health insurance for people over 65 and/or with certain disabilities.
What is Medicare?
Sara makes $85,000 per year. What is her semi-monthly salary?
What is $3,541.67
Round each amount to the nearest cent and find the sum?
$56.796 + $81.234
What is $138.03
Rene has gross wages of $500 and has 6.2% deducted for her Social Security Tax. What are her net wages?
What is $469?