VSVA Practical Math Final Review

According to this partial W-2 form, how much money was paid in FICA taxes?

• $418.53

• $1789.87

• $1906.86

• $2208.10

Raoul’s taxable income is $38,438. He is filing as head of household, and he has already paid $4228 in federal taxes.

What will he receive or pay after he figures his taxes for the year?

• He will receive a refund of $908.

• He will receive a refund of $916.

• He will pay $908.

• He will pay $916.

What was the total amount of the checks listed on the opposite side of Vera’s deposit ticket?

• $1120.70

• $1040.70

• $456.32

• $80.00

Dianne's register shows check #149 on 9/7 in the amount of $219.25, a deposit on 9/12 in the amount of $140.36, and an ATM withdrawal on 9/16 in the amount of $140. No other transactions were made.

What should the balance be in Dianne’s register? Use this bank statement.

• $359.41

• $462.34

• $649.35

• $797.91

Each month, Cameron budgets $1040 for fixed expenses, $980 for living expenses, and $120 for annual expenses. His annual net income is $24,132.

Which statement best describes his monthly budget?

• It shows a deficit of $129.

• It shows a surplus of $129.

• It shows a deficit of $9.

• It is balanced.

Alan’s unpaid credit card balance was $3426.67. His APR is 16.8%.

What is his new balance after he makes one new transaction for $235?

• $3709.64

• $3876.52

• $4141.40

• $4237.35

Brianna’s gross annual salary is $50,676.

What is the recommended maximum monthly rent she should pay?

• $998

• $1046

• $1182

• $2111

Pat is 19 years old. He buys 25/50/50 liability insurance, collision insurance with a $250 deductible, and comprehensive insurance with a $100 deductible.

What is his total annual premium?

• $1674

• $956

• $779

• $640

Brett deposited $3200 into a savings account for which interest is compounded quarterly at a rate of 2.4%.

How much interest will he earn after 15 years?

• $300.42

• $768.14

• $1367.19

• $1381.72

Meagan’s insurance company pays for 90% of her knee surgery, after she pays an $800 deductible.

How much will Meagan pay for her surgery if it costs $14,600?

• $1380

• $1460

• $2180

• $2260