Career Prep Unit 6 Review

Front

The total money you get to “take home” from your paycheck after taxes and deductions is _____

Back

net pay

Front

The ____ is the form employers use to inform you of the amount of money deducted from your paycheck in a given year.

Back

W2

Front

Reese’s gross pay is $1,900.00. All of his deductions total $550. What is his net pay?

Back

$1,350.00

Front

If Chase worked 10 hours last week at $7.25 per hour, what is his gross pay?

Back

$72.50

Front

If Lanten’s gross pay is $1,800 this pay period and the Medicare tax is 1.45%, how much Medicare tax will be deducted from Lanten’s paycheck?

Back

$26.10

Front

The M in SMART goals refers to making goals that are

Back

measurable

Front

According to financial experts, what portion of your income should be saved?

Back

20%

Front

Shoes are usually considered a need.

Back

False

Front

A mortgage payment is an example of a ________

Back

fixed expense

Front

What is meant by a balanced budget?

Back

inflows are greater than or equal to outflows.