1. | What is the difference between gross vs net pay? |
A. |
B. |
C. |
D. |
E. |
2. | Murtle is paid biweekly. In each two-week period, she works 64 hours and earns $15.15 per hour. She is married, and she and her husband have one child.The Social Security deduction is 6.2% and the Medicare deduction is 1.45%. State and federal taxes are also deducted. Help Murtle calculate the deductions from her paycheck. State taxes : ____________$75.98________________________________ Federal taxes: __________$50.45________________________________How much is Murtles paycheck every 2 weeks after all of her taxes is taken out |
A. |
B. |
C. |
D. |
E. |
3. | 1. Chad makes $150,000.00 per year salary at his job. What is the maximum amount of money that Chad should have in a monthly debt payments (back-end)? |
A. |
B. |
C. |
D. |
4. | Moe makes $42,000.00 per year at her job. What is the maximum amount of money per month that Moe should have according to the (front-end)? |
A. |
B. |
C. |
D. |
5. | Molly and her husband make a combined gross salary of $210,000.00. They have car payments of $500.00 and $320.00. They also have a credit card payment of $200 per month. They have $600 student loan payments. According to the front-end ratio, how much can they pay monthly for a home loan? |
A. |
B. |
C. |
D. |
6. | Molly and her husband make a combined gross salary of $210,000.00. They have car payments of $500.00 and $320.00. They also have a credit card payment of $200 per month. They have $600 student loan payments. According to the back-end ratio, how much of a payment could they have for a new home? |
A. |
B. |
C. |
D. |
E. |
7. | 1. In Numbers (the spreadsheet application) you start every formula with |
A. |
B. |
C. |
D. |
E. |
8. | If the Regular Expense Total was in cell B24 and the Discretionary Expense Total was in B34 what would the formula look like for Total Expenses: |
A. |
B. |
C. |
D. |
E. |
9. | My ________________should = my ____________________ to create something that is called a balanced budget |
A. |
B. |
C. |
D. |
E. |