Calculating Pay
Alex works at a local grocery store and earns $12.50 per hour. She works 35 hours each week. Calculate her gross pay for the week.
$437.50
Maria earns an annual salary of $45,000. According to the tax system, the first $10,000 is taxed at 10%, the next $20,000 is taxed at 15%, and any amount above $30,000 is taxed at 20%. Calculate Maria's total income tax for the year.
$7,000
Sarah receives a monthly paycheck of $2,500. She deposits this amount into her checking account every month. Last month, her starting balance was $1,200. After depositing her paycheck, she paid $850 for rent, $200 for groceries, and $150 for utilities. What is Sarah's checking account balance at the end of the month?
$2,500
Emily plans to buy a car in two years. She deposits $3,000 in a savings account that earns 4% simple interest annually. How much interest will Emily earn by the end of two years?
$240
Sarah invested $1,500 in stocks at the beginning of the year. By the end of the year, her investment grew by 8%. How much money does Sarah have now?
$1,620
Maria has a monthly salary of $3,200.00. Her monthly deductions include federal taxes of $320.00, state taxes of $140.00, and other withholdings of $200.00. What is Maria’s net pay for the month?
$2,540.00
Alex has a job that pays him $3,200 per month. He is required to pay 12% of his monthly income as federal income tax and 5% as state income tax. How much money does Alex take home each month after taxes?
$2,656
Emily is saving for a new laptop and needs $1,200. Her checking account balance is currently $650. She plans to deposit $300 each month. After how many months will she have enough money to buy the laptop, assuming no other expenses are deducted?
2 months
Alex takes out a student loan of $5,000 with a simple interest rate of 5% per year. How much interest will Alex pay after four years?
$1,000
David participates in a savings challenge and deposits $1,500 into a special account that offers a compound interest rate of 8% per year, compounded annually. Determine the total amount in the account after 3 years.
$1,889.57
John is employed as a warehouse assistant and is paid $15.00 per hour. Last week, he worked 40 regular hours and 10 overtime hours. Overtime is paid at 1.5 times the regular hourly rate. Calculate John’s gross pay.
$825.00
Julia has two job offers. The first job offers an annual salary of $50,000 with a flat tax rate of 18%. The second job offers a salary of $48,000 with a graduated tax rate: 10% on the first $20,000 and 20% on the remaining amount. Which job will give Julia a higher net annual income?
Julia has a higher net income with the first job.
Mark has a checking account balance of $3,400. He writes a check for $1,250 to pay for a car repair. Two days later, he receives a refund of $300 from his insurance company, which he deposits into his account. What is Mark's new checking account balance?
$2,450
Jordan invests $2,500 in a bond that earns 6% simple interest per year. Calculate the total amount Jordan will have after five years.
$3,250
John has two investment options: a bank account with a 5% annual interest rate and a bond offering a 6% annual return. If he invests $2,000, how much more will he earn from the bond compared to the bank account after one year?
$20 more from the bond
Emma works part-time at a coffee shop earning $10.75 per hour. She works 28 hours a week. Calculate her gross pay for two weeks. If her total deductions for the two weeks are $95.00, determine her net pay.
Gross Pay: $602.00
Net Pay: $507.00
Carlos earns $60,000 annually. He qualifies for a standard deduction of $12,000 and has itemized deductions totaling $5,000. If the remaining taxable income is taxed at a rate of 22%, what is Carlos's total tax liability?
$9,460
Alex begins the month with a checking account balance of $2,000. Throughout the month, he writes checks totaling $1,200 for various expenses and makes a deposit of $500 from a freelance job. What is his balance at the end of the month?
$1,300
Mia wants to save for a vacation and puts $1,200 in an account with a 3% annual simple interest rate. How much money will be in the account after three years, including the interest?
$1,308
Jason invests $5,000 in a mutual fund with a compound interest rate of 6% per year, compounded annually. Calculate the total value of his investment at the end of 3 years.
$5,955.08
*Double Jeopardy*
David earns $18.00 per hour as a freelance graphic designer. He works on average 30 hours per week. Calculate his annual gross income, assuming he works 50 weeks in the year. If David aims to save 20% of his net income each year, and his annual deductions total $6,000.00, how much will he save annually?
Annual Gross Income: $27,000.00
Annual Net Income: $21,000.00
Annual Savings: $4,200.00
Emma is self-employed and expects to earn $75,000 this year. She needs to set aside money for income tax, which is estimated at 25% of her income. How much should Emma set aside each month to cover her annual tax bill?
$1,562.50
*Swap Points if answered correctly*
Lisa checks her bank statement and sees the following transactions: a deposit of $1,800 from her salary, a $400 rent payment, and a $150 grocery bill. Additionally, she withdrew $100 for personal expenses. If her starting balance was $750, what is her current balance?
$1,900
*Swap Points if answered correctly*
*Double Jeopardy*
A small business owner borrows $10,000 to expand her business. The loan has a simple interest rate of 7% per year. What is the total amount she will have to repay after six years?
$14,200
*Double Jeopardy*
Emily deposits $1,000 into a savings account with an annual compound interest rate of 5%. How much money will Emily have in her account after 3 years?
$1,157.63