Define gross pay and net pay, and state how it is calculated. In your calculation, explain...
Define gross pay and net pay, and state how it is calculated. In your calculation, explain how the amounts (gross and deductions) are calculated.
In addition, if you need to plan to buy a car or determine if you can afford an apartment's rent, what would you use: gross or net pay? Why?
Homework Answers
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Define gross pay and net pay, and state how it is calculated. In
your calculation, explain...
Define Gross National Product and explain how it is calculated. Use an example to support your...
Define Gross National Product and explain how it is calculated. Use an example to support your explanation.
You have a gross income of $80,000. Your gross income is taxed by the state and the federal government at two separate rates. The state taxes 5% of your gross income and the federal government taxes...
You have a gross income of $80,000. Your gross income is taxed by the state and the federal government at two separate rates. The state taxes 5% of your gross income and the federal government taxes 25% ofyour gross income. 1. Calculate your monthly net income. (Use this number to start your budget) 2. Categorize expenses: Determine if your expenses are fixed or variable, and write them in the appropriate sections of the table below (on the exam it will...
You are trying to buy a house. Your net monthly income is $2,634.37. The bank will...
You are trying to buy a house. Your net monthly income is $2,634.37. The bank will not approve your mortgage loan if your monthly payment is greater than 28% of your gross monthly income. a.)find the maximum amount you can pay each month for your mortgage. b.) give a calculation to show that you can afford your mortgage.
In words, define the term force; explain how mass can be used to define the force...
In words, define the term force; explain how mass can be used to define the force unit Newton Name and draw all of the significant forces that act on any common object (such as an airplane in flight) Explain what is meant by the normal force, and be able to draw it and calculate it for common objects Explain in your own words all three of Newton's Laws of Motion Use Newton's Laws to explain how any object will behave...
help asap in python codio, A good friend of yours owns a small company that produces...
help asap in python codio, A good friend of yours owns a small company that produces a tool the helps disabled individuals open jars and containers. Rather than buy a time clock mechanism, he would like to put an old computer on the warehouse floor that could be used as the time clock and help them manage materials, shipments, etc. Your friend was able to find an inexpensive application to keep track of each employee’s hours. However, this application did...
How much car can I afford? Before buying a car, it is critical that you determine...
How much car can I afford? Before buying a car, it is critical that you determine both the complete price of the vehicle and what you can afford to spend. This information is essential in deciding whether to pay cash or finance the vehicle with a loan. The difference between these two methods of payment, however, is the difference between paying the car's full price versus making a much smaller down payment and fitting the monthly payments into your budget....
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you...
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payment on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate of r(as a decimal) and wish to pay off the...
5. Calculating Take-home Pay, and Length of Savings: Because it is such a large amount, most...
5. Calculating Take-home Pay, and Length of Savings: Because
it is such a large amount, most people, when deciding to buy a
home, need to plan ahead and start saving for the down payment.
Using the average starting salary in the career you chose after
graduation as a guideline (from #2), calculate your monthly
take-home pay; this is your net monthly pay after you have an
average of 30% taken out for income taxes.
Monthly take-home (net) pay after 30%...
Question: If you choose to invest, what percentage of your pay would you defer to the...
Question: If you choose to invest, what percentage of your pay would you defer to the Section 401(k)? Why? Case: After nearly three months at your new job, you believe that you have a good understanding of your responsibilities, as well as the benefits of working at your company. However, you just received a letter from HR informing you of the opportunity to participate in the company’s retirement plan. Under company policy, you can begin participating in the retirement plan...
You are trying to decide whether to keep your old job and your old car or...
You are trying to decide whether to keep your old job and your old car or take a new job and purchase a new car. You only use your current car to drive between home and work, which is currently a 31-mile journey each month. You spend $600 on insurance every 3 months. You also find that you are spending $9.00 per mile in gas and maintenance. You do not make any monthly car payments for your old car. You...
You have a gross income of $80,000. Your gross income is taxed by the state and the federal government at two separate rates. The state taxes 5% of your gross income and the federal government taxes 25% ofyour gross income. 1. Calculate your monthly net income. (Use this number to start your budget) 2. Categorize expenses: Determine if your expenses are fixed or variable, and write them in the appropriate sections of the table below (on the exam it will...
In words, define the term force; explain how mass can be used to define the force unit Newton Name and draw all of the significant forces that act on any common object (such as an airplane in flight) Explain what is meant by the normal force, and be able to draw it and calculate it for common objects Explain in your own words all three of Newton's Laws of Motion Use Newton's Laws to explain how any object will behave...
How much car can I afford? Before buying a car, it is critical that you determine both the complete price of the vehicle and what you can afford to spend. This information is essential in deciding whether to pay cash or finance the vehicle with a loan. The difference between these two methods of payment, however, is the difference between paying the car's full price versus making a much smaller down payment and fitting the monthly payments into your budget....
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payment on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate of r(as a decimal) and wish to pay off the...
5. Calculating Take-home Pay, and Length of Savings: Because
it is such a large amount, most people, when deciding to buy a
home, need to plan ahead and start saving for the down payment.
Using the average starting salary in the career you chose after
graduation as a guideline (from #2), calculate your monthly
take-home pay; this is your net monthly pay after you have an
average of 30% taken out for income taxes.
Monthly take-home (net) pay after 30%...
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Please solve with excel and mention the excel function.
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