Earning an Income
Bill earns $20 per hour.
He works for 35 hours in a week, plus an extra 5 hours of overtime.
How much does he earn all together?
$850
Ben earns $57,250 in gross income per year and has allowable deductions of $1730.75.
Calculate his taxable income.
$55,519.25.
Find the interest earned on $25,000 invested at a rate of 3% p.a. for 4 years.
$3,000
$57,500 is invested into an account with a compound interest rate of 2% per annum for 7 years. What is the final amount? (To the nearest cent)
$66,049.43
Holly is paid $15 per hour and an additional $10 for each toy train she constructs.
If she works an eight hour day and creates 15 toy trains per day, how much will she have earned by the end of a 5-day week?
$1350
Uriel is a graphic designer who earns a salary of $90,575 and $1,572 in bank interest.
She has $582 worth of work related expenses and $254 in charity donations.
What is her taxable income?
Maria invests $50,000 into a bank account with a simple interest rate of 0.75% per month for 5 years.
How much interest does she earn?
$22,500
A car originally worth $52,000 depreciates by 5% per year. How much is it worth after 30 months? (To the nearest cent)
$45,741.71
Nicole earns $32.50 per hour. She works for 32 hours per week at a normal rate and for 8 hours at double time for 40 weeks in a year.
Jerry earns a salary of $58,000 per year and earned a bonus of 2% of his total salary.
Who earns more?
Nicole = $62,000
Jerry = $59,450
Nicole earns more.
Steven earns a weekly wage of $2124.
If he has to pay 30% of his total wage to PAY G at the end of each week, calculate his total annual salary.
$77,313.60
Bob requires his principal to grow by $25,000 by the end of 5 years. If his bank has a simple interest rate of 4% per annum, how much will he need to invest?
Find the original price of a computer which has depreciated by 7.2% per year for 5 years to the value of $2,450. (2 d.p.)
$3559.80
What was his total pay for that 4 weeks? (To the nearest cent).
$6,554.69
Maree bought a backyard swimming pool for $22,500. She paid a 10% deposit and will repay the balance over 5 years, with flat-rate interest charged 7% p.a.
Calculate the interest paid.
$7087.50
Angelica earns $500 in interest after investing $15,000 at a rate of 1% p.a.
How long was the amount invested for?
3 and a third years.
A vampire invested $2 into a bank account with an interest rate of 0.1% compounded monthly, then went to sleep for a thousand years.
How much would she have in her account after she wakes up?
$323,563.67
Jennifer is a realestate agent who is paid a salary of $55,000 and a commission of 2.5% for the first $50,000 of any property sold, and 1% of the remainder.
She sells a one bedroom tent for $25,000 and a SPOOKY mansion for $3.5 million within the period of one year.
$55,000 + $625 + $35,750
$91,375
Use the taxation table in your textbook to find the amount of tax required on an income of $105,401 with allowable deductions of $7,512.
$26,945
Aria earned $11727 of interest after investing $20,000 for 3 years. What was the interest rate per month?
1.6%
An investment increases to $30,612.47 of interest from a principal of $25,150 at an interest rate of 2% per annum. How many years was it invested for? To the nearest year?
7 years.