Borrowing, Gross Wages, Net Weekly Income, Loans
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You and a friend go to The Gelato Fiasco and order two items: one costs $4.50 and the other $3.75. What would be a 15% tip for the combined total?
If you are paid $12.00 per hour and work 40 hours per week, what is your weekly gross wages?
If 6.2% is deducted for FICA (sometimes called 'social security'), 2.35% is deducted for Medicare Insurance, 10% is deducted for U.S. federal income tax, 3.23% is deducted for Indiana state income tax, and 1.5% is deducted for Elkhart County income tax, what is your weekly net income assuming that your gross income is what you calculated in the previous question?
If a person borrows $450 at the beginning of the month and promises to pay back $543.75 on payday at the end of the month, what is their monthly interest rate? What is the associated APR of this payday loan?
How might a more quantitatively literate U.S. population have prevented the financial meltdown of 2008?
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Explain your answers and/or show intermediate steps.
You and a friend go to The Gelato Fiasco and order two items: one costs $4.50 and the other $3.75. What would be a 15% tip for the combined total?
$4.50 + $3.75 = $8.25. Then 15 / 100 = 0.15. Then $8.25. * 0.15 = $1.24.
If you are paid $12.00 per hour and work 40 hours per week, what is your weekly gross wages?
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- MSc, California State Polytechnic University, Pomona
- MBA, University of California, Riverside
- BSc, California State Polytechnic University, Pomona
- BSc, California State Polytechnic University, Pomona
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