Assessment Task 3 - Financial Math

Brianna, who earns $24.60 per hour and works 42 hours.

Find her weekly wage

• $1033.20
• $1000.00
• $980.00
• $1024.60

Lionel works 42 hours a week.Find his weekly wages using the table given.

who earns the higer hourly rate of pay, and how much?

• Faith by $3.90

• Faith by $3.60

• Fabian by $3.90

• Fabian by $3.60

Christian is paid 5% of the value of used cars he sells and 3.5% of the value of new cars. What commission is earned by selling new cars worth $78 400 and used cars worth $36 200?

Sarah earns $862.40 working 36 hours at normal rates and 4 hours at double time

• - calculate her normal hourly rate

• $20.00
• $19.60

• $19.00

• $20.60

A real estate agency pays the following rates of commission.

• 5% on the first $100 000

• 3% on the next $50 000

• 2% on any value thereafter.

Calculate the commission earned by selling property valued at:

$240 000

Jake earned $73 219 this year as a plumber. He is entiltles to deductions in tools ($527.40), training courses ($735.26) and office supplies ($321.55).

What is Jakes taxable income? rounded down to the nearest dollar

Gary earns a gross income of $864.25 per week. His deductions are $141.94 tax and $51.33

for private health insurance. Calculate:

the percentage (correct to one decimal place) of Garry's gross income that is paid in tax.

• 16.2%

• 20.5%
• 83.5%

• 16.4%

Eerin earns $2346.87 per fortnight and claims deductions of $1955.30 in travel expenses,

$572 depreciation of camera equipment, $180.20 membership to a professional association

and $150 donated to a charity. Calculate Eerin’s income tax payable.

Kadin earns $2145 per fortnight and has allowable annual deductions of $337. Calculate his income tax for the financial year. (using tax rates table)

• $3412.40
• $6824.60
• $9562.73
• $12 519.90