AMDM Review

Your net income is only $145 per week.

Your move out expenses are $3540 and you need to move out in 30 weeks. 

HOW MUCH will you have to save each week out of your check?

Answer explanation

Moving Expense / Weeks = $Savings per week

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Move Out: How Much

Your income is $228.75 per week.

Your total moving expenses are $4,680.

How many weeks of saving will it take to move out? (Round UP to the nearest whole number)

Answer explanation

Moving Expenses / Weekly Savings = Weeks

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Move Out: How Long

Horacio earns a wage of $13.25 per hour at Publix.

He works an average of 38 hours every week.

What is Horacio's annual Gross Income? (Income earned in one year)

Answer explanation

Wage x Hours x Weeks = $ Annual Gross Income

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Calculating Gross Pay: Annual Gross

Shanaya earns $14.00 per hour (Gross) and works an average of 38 hours per week.

She lives in a state that has an income tax of 4.9%.

After subtracting both Federal (11.75%) and State taxes, what is her Annual (yearly) Net income?

Answer explanation

Annual Gross Income - Total Taxes = Annual Net Income

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Net Income

Dyneria earns $1083 (gross) every two weeks working at Khol's.

She works in a state that has an income tax rate of 5.25%.

Federal is 11.75% and FICA is 7.65%

Khol's deducts 1.3% for Vision, 3.2% for Dental, 4% for Medical and 6% for Retirement.

Adding all the taxes and benefits,

how much are Dyneria's deductions?

Remember to round your answer to the nearest cent.

Answer explanation

Gross Income - Taxes and Deductions = Net Income

Also:

Gross Wage - Taxes and Deductions = Net Wage

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Net Income: Deductions

Aden earns a wage $14.25 per hour at Foot Locker.

He lives in a state where the income tax is 5.5%.

Including Federal (11.75%) and FICA (7.65%),

how much tax is taken out of Aden's wage?

Answer explanation

Wage x Decimal Tax Rate = Income Tax

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Calculating Income Tax

Jordan bought $225 of groceries for her family.

She lives in a state that has State Sales tax of 4%.

Once the State Sales tax is added to her purchase,

how much will Jordan have to pay at the checkout?

(Remember: Currently, only states charge a sales tax.)

Answer explanation

Item Cost x Decimal Sales Tax = Sales Tax

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Calculating Sales Tax

Sharia owns a restaurant. The restaurant revenue averages $7,800 per month. It costs Sharia a total of $3,300 per month to pay her two employees. The restaurant uses an average of $831 per month in electricity, $120 per month in water, and $1,700 per month in rent. What is the average monthly profit for Sharia's restaurant?

Answer explanation

Revenue - Expenses = Profit

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Calculating Profit