30. Your parents have the following expenses. What should their monthly estimated expenses be?
Car payment (bi-monthly)
31. Your parents make a purchase of $2,975.34 using a popular reward credit card that gives you 1% cash back. If the credit card has a 13.5% APR and you do not make a payment the first month, how much is the difference between the interest and reward? (1 point)$29.75
32. Your parent’s mortgage is $231,450 at a 4.65% APR. If they pay $2,236 toward the mortgage each month, how much of the payment is applied toward the principal at the end of the second month? (1 point)$2,678.26
33. You work 35 hours/week for 52 weeks and are given the option to be paid hourly or to go on salary. In which situation will you earn the most? (1 point)$32,000/year
$30,000/year with a 5% bonus
$17.50/hour and a $1,500 bonus at the end of the year
34. What is the total of your parents’ fixed expenses?
Name brand khakis for work (store brand optional)
35. Your gross pay is $1,843.45. Your involuntary deductions are FICA (7.65%), federal withholding (9%), and state withholding (6.5%). How much are you allowed for housing and fixed expenses? (1 point)$516.17
36. Your parents have 3 credit cards. Each has its entire credit line used, and the credit limits are $1,800.00, $2,600.00, and $3,500.00. Paying off and closing which card would increase your parents’ debt ratio the most? (1 point)$3,500.00 limit
The debt ratio remains the same.
Your teacher will grade your responses to questions 37–40 to ensure you receive proper credit for your answers.
37. You are making several purchases from the B-Better Electronics store. You can buy from this store online or in a physical store. You have a coupon for 20% off that can only be used in the physical store and a $20.00 off coupon that can only be used online. The sales tax of 7.5% only applies to the physical store. Shipping for the online store is a flat rate of $8.99 or free for purchases over $75.00. Using the information below, which way of purchasing would save you the most money?
Be sure to include in your response:
the steps you followed to complete your computations
the choice you made regarding which way to purchase the items.
the total cost of your purchases
The prices for the items if you buy them at the B-Better Electronics store:
Here are the prices for the items if you buy them from the online store:
38. Complete the following transactions and explain how they would appear in your register.
Your beginning balance on October 1 is $542.89.
You pay Land Electric $43.90 on October 7. (Check #400)
You deposit your paycheck on October 23 ($7.25/hour for 40 hours/wk for 2 weeks with deductions of FICA (7.65%), federal withholding (12%), and state withholding (8.75%).
You buy $78.54 plus 6% sales tax in clothes from FitRight on October 24 using your debit card.
Be sure to include in your response:
the steps you followed to complete your computations.
the balance as of October 24
the process for entering the transaction in the registry
Incoming search terms:
- Your gross pay is $1 843 45 Your involuntary deductions are FICA (7 65%) federal withholding (9%) and state withholding (6 5%) How much are you allowed for housing and fixed expenses? (10)
- your gross pay is $1 843 45 your involuntary deductions are fica (7 65%) federal withholding (9%) and state withholding (6 5%) how much are you allowed for housing and fixed expenses? (1 point) (7)
- You are paid $7 25/hour You work 40 hours/week for 2 weeks Your involuntary deductions are FICA (7 65%) federal withholding (14%) and state with (2)
- your gross pay is $1 843 45 your invouluntary (1)
- Your parents make a purchase of $2 975 34 using a popular reward credit card that gives you 1% cash back If the credit card has a 13 5% APR and you do not make a payment the first month how much is the difference between the interest and reward? A $29 75 (1)