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Ch #6 Financial ALgebra Flashcards | StudBud
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Ch #6 Financial ALgebra
Ch #6 Financial ALgebra
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Financial algebra basic math chapter on employment basics
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
A payment for doing something one time, and getting paid multiple times for it is:
Piecework
Royalty
Commission
Direct Deposit
2
You work 52 hours at $10, with time-&-half overtime, what would a biweekly paycheck look like?
$1160
$640
$580
$1280
3
Y= 4X + 8 represents what, in terms of vacation days earned?
start with 8 days, 4 added each year worked
12 days off
started with 4 days, 8 days added for each year worked
it maxes out after 48 days
4
When ever going on a job search you should have this paper ready to handout.
W-2
benefits
resume
W-4
5
Sal starts with 5 days of vaca. a yr, every yr gains 3 days. after 8 yrs how many days off?
29 days
24 days
32 days
27 days
6
How much should you expect to pay in health insurance premiums a month per person?
$400
$200
$100
$300
7
Tax money taken from your paycheck is given to older people to retire, is called?
Social Security
Pension
Medicare
Welfare
8
The job pays $72K annually, what is the weekly income?
$1297
$1384
$1158
$985
9
U get a 5% commission on every car you sell. U sell $75000 total, what is ur check?
$5,180
$4,290
$3,750
$5,320
10
Tax money is taken from your check for Health plans for people over the age of 65 is called?
Unemployment
Minimum Wage
Social Security
Medicare
11
What plan is the best to plan for retirement with?
Social Security
Why not have all 3
Pension
IRA or 401K
12
U make 58 friendship bracelets in a month. U make $8 each for each, how much doe U make?
$464
$488
$446
$424
13
What is an advantage and disadvantage of minimum wage?
A) Less Gov't assistance, D) hurts small businesses
All of Above
A) Inflation D) Lowers Poverty
A) gives a living wage to everyone, D)Lowers housing costs
14
Ed makes 81K, 84K, 87K in last 3 yrs. Wrked there 32 yrs. They pay 2.1% per year in a pension?
$32,672 a year
$56,448 a year
$62,120 a year
$42,150 a year
15
Kim makes 25% for ea newspaper. Ea paper sells for $1.35. If u sell 90 papers, how much u make?
$28.62
$30.38
$36.81
$32.41
16
H gets job from agency. Pays them 25% for 5 wks. The job pays $642 a wk. How much does he make?
$2167
$1971
$3210
$2407
17
Optional value added incentives to employees are: (i.e. health ins., paid vacation)
social security
Individual Retirement Account
benefits
Pension
18
Medicare takes 1.45% of your pay check. You make $24,450 how much do you pay?
$349
$284
$312
$355
19
This bank program automatically puts your pay check into you bank account
Gross Pay
Welfare
Selective Service
Direct Deposit
20
If you get paid semimonthly , what would that look like?
Getting Paid every other Friday
Getting paid on the 9th and 24th of each month
Getting paid at the end of each month
Getting paid each week, but with a week delay.
21
Rob writes a book, sells 20,000 copies @ $15.95. He gets 20% of total, what is his check?
$255,200
$24,120
$124,300
$63,800
22
U make $95,785 a year and soc. sec. tax is 6.2% with a max. of $64,000, how much do u pay?
$5741
$4941
$5399
$3968