Sales Tax
Budgets
Income Tax
Calculating Interest
Net Worth
Monetary Incentives
100
A hoverboad was purchased for $213.00. What is the original price if the sales tax was $18.00?
$195.00
100
Income or Expense?
Salary
Income
100
This type of tax is used to pay for health care for the elderly.
Medicare
100
Using Simple Interest Calculate the Interest Earned.
Principal: $13,700
Time: 2 years
Interest Rate: 5%
$1,370
100
Asset or Liability?
Personal Checking Account
Asset
100
What were the 3 monetary Incentives that we discussed in class?
Sales, Rebates, and Coupons
200
What is the total amount for the Stapler including tax?
Stapler Price: $12.00
Sales Tax: 1%
$12.12
200
Income or Expense?
Utilities
Expense
200
This type of tax is a progressive tax, collected by the federal government to help fund different programs such as educational programs and military defense.
Federal Income Tax
200
Using Simple Interest. How much is in the account?
Principal: $400.00
Time: 10 years
Interest Rate: 2%
$480
200
Asset or Liability?
Car (Paid off)
Asset
200
What is the better deal?
Annual Payment
300
What is the amount of sales tax paid on an item that cost $2,400 and the sales tax rate is 3.5%?
$84.00
300
Michael budgets $600 for his transportation costs of his $2,000 monthly salary. What percent of his budget is set aside for transportation costs?
30%
300
Dr. Ames earns an annual salary of $265,000. If he pays 12% income tax every year, how much is being withheld?
$31,800.00
300
Mrs. Martins deposits $2,650 into a savings account. The account earns 6% interest per year. The interest is not compounded. How much will be in the account after 9 years?
$4,081.00
300
What is the Equation to calculate Net Worth?
Assets - Liabilities = Net Worth
300
Bernice is shopping around town for a new TV. She found one for $750 at Best Buy with a 15% off coupon and she found one at WalMart for $700 with a $50 rebate. Which is the better deal?
Best Buy
400
What is the Amount of Sales Tax for this purchase?
Original Price: $1,250
Sales Tax: 6%
$75.00
400
Tanisha earns $3,000 per month after taxes. She wants to save 24% of her income. What amount will she put in her savings account each month?
$720.00
400
Mrs. Washington earns a gross pay of $64,000.00. She paid 8% in income tax for 2014. How much did she pay in taxes for 2014?
$5,120.00
400
Using Compound Interest, how much Interest was earned?
Amount: $8,014
Principal: $4,725
$3,289.00
400
What is the Net Worth?
House (Equity) - $80,000
Car (Paid Off) - $15,000
Mortgage - $50,000
Jewelry - $15,000
Student Loans - $8,000
$52,000
400
John was shopping for a new pair of headphones at Best Goods for $209 with a 22% coupon. How much will he pay for the headphones?
$163.02
500
Kash was shopping at his favorite store. He purchased 3 shirts for 12.99 each, 2 pairs of jeans for $44.99 each, and a pair of shoes for $99.99. If the sales tax rate is 8.5%, what is the total amount of his purchase?
$248.40
500
After taxes, Olive brings home $2,800 per month. She needs to set aside 15% of her income for utilities and 4% for her cell phone bill. How much will she have each month for utilities and her cell phone?
$532.00
500
Mr. Ronaldo earns $46,650 in annual gross income. He will pay 7% in income tax this year. What is his net income after income tax?
$43,384.50
500
Lisa invested $29,772.85 in an account earning 11% compounded annually. How much will she have after 3 years if she does not make any withdrawals?
$40,718.27
500
$56,600
500
A gym runs several promotions each year. This year the customers can choose the following.
Option A: 25% off an annual membership of $308.00
Option B: Pay $29 per month
How much will the customer save by paying for the annual membership instead of monthly?
$117.00