Financial Fridays - September quiz

a person who organizes and operates a business, taking on financial risks in the hope of profit

• worker

• manager

• influencer

• entrepreneur

Pay before deductions

• gross pay

• net pay

• hourly pay

• salary

pay after taxes

• gross pay

• net pay

• hourly pay

• salary

You are paid $20 per hour. You work 10 hours this week. What is your gross pay for this week?

• $20

• $100

• $150

• $200

Your monthly gross is $2800. Your payroll taxes include the following: Social Security $173.60, Medicare $40.60, FIT $560, SIT $280. You also pay $125 for health insurance. Which is true?

• I should go to college and make more money!

• Your deductions = 1050

• Your deductions = $1179.20

• both a and c

The Social Security tax rate is

• 10%

• 8%

• 6.2%

• 1.45%

The Medicare rate is currently

• 10%

• 8%

• 6.2%

• 1.45%

If you are paid weekly, you receive___ paychecks per year

• 12

• 24

• 26

• 52

If you are paid biweekly, you are paid ___ times per year

• 12

• 24

• 26

• 52

If you are paid monthly, you are paid ___ times per year

• 12

• 24

• 26

• 52