Vocabulary
Money that is taken from your paycheck and paid to the government.
Taxes
John makes $10.50 per hour. If he works 35 hours this week, what is his gross pay?
$367.50
Sam bought 3 pairs of flip-flops for $12.60
$4.20 each
A bicycle is on sale for $189.50. The sales tax rate is 5%. What is the total price?
$198.53
The store piece of a t-shirt is $50. If the markup set by the store is 30%. How much is the markup?
$15
A plan for how to spend and save money over a certain period of time
Budget
If Janet makes $323 for babysitting for a total of 34 hours, what is her hourly rate?
$9.50
Caleb charges $100 to plow snow out of a driveway 5 times
$20 each time
Megan bought 50 beads for $9.95. She paid a sales tax of 6%. How much did she pay for the beads?
$10.55
The store price of a jeans is $50. If the discount given by the store is 45%, calculate the discount amount offered by the store on the jeans.
$22.50
the money you make BEFORE taxes
What is gross income?
What is Allan's net pay if he earns $8.75 for each hour worked, works 35 hours, and has payroll deducƟons of 30%?
$214.38
A dozen eggs cost $2.60
$0.21666= $0.22/ egg
Eric bought a canoe for $333.75. The sales tax was 5.25%. What was his total cost?
$351.27
The store price of an electronic gadget is $100. If the markup percent set by the store is 45%.What is the total cost?
$145
the money you make AFTER taxes
What is net income?
Andy earns $1,995.75 per month. Below are the deductions that are subtracted from Andy’s monthly paycheck.
FEDERAL DEDUCTIONS
Federal Income Tax $221.65
Social Security Tax $123.74
Medicare Tax $28.94
STATE DEDUCTIONS
State Income Tax $35.00
State Unemployment Insurance and State Disability Insurance $20.50
What is Andy's NET Income?
$1565.92
Xin works at a laundromat. For an extra fee he will fold the freshly cleaned laundry. He charges $5.00 for 30 items.
$0.1666666= $0.17/item
A snowmobile is priced at $2,800. The sales tax rate is 8.25%. What is the total price including tax?
$3031
The cost price of an instrument is $350. If the discount offered by the shopkeeper is 65%. Calculate the discount amount and selling price of the instrument.
Discount = $227.5
Selling price = $122.5
Name at least 2 types of taxes.
Income Tax, Sales Tax, Property Tax, Federal Tax, State Tax, Social Security, Medicare
Chris grossed $1,032.51 this pay period. He had income tax ($90.81), Insurance ($16.83), retirement ($61.43), and vision/dental ($101.99) deducted from his income. How much money net income will be deposited into his bank account?
Chris will have $761.45 deposited into his bank account.
A small paperback book costs $4.80. Miss Bates wants to purchase 30 copies for her class. How much will this cost?
$144
Rick bought 3 shirts for $18 each, 2 pair of socks for $3.99 a pair, and a pair of slacks for $45.00. The sales tax rate is 8.5%. How much did he pay?
$77.01
If the selling price of a certain instrument is $300. If the markup set by the store was 20%. Then calculate the cost price of the instrument. Also, find the markup price for the instrument.
Cost price = $250
Markup = $50