Gross monthly income:$1,125
Monthly Federal income tax (11.6%): $130.50
Monthly Social security (FICA) (6.2%): $69.75
Monthly Medicare (1.45%): $16.3125
Monthly State Tax (4%): $45
Monthly Local Tax (0.1%): $1.125
Total Monthly deductions $262.6875
Trey’s NMI $862.3125
Explanation:
Calculation for What is his monthly taxes
First step is to calculate the Gross monthly income
Using this formula
Gross monthly income=Annual salary/Numbers of months in a year
Let plug in the formula
Gross monthly income=$13,500/12 months
Gross monthly income=$1,125
Therefore the Gross monthly income is :$1,125
Monthly Federal income tax (11.6%): $130.50
($1,125*11.6%)
Monthly Social security (FICA) (6.2%): $69.75
($1,125*6.2%)
Monthly Medicare (1.45%): $16.3125
($1,125*1.45%)
Monthly State Tax (4%): $45
($1,125*4%)
Monthly Local Tax (0.1%): $1.125
($1,125*0.1%)
Total Monthly deductions $262.6875
($130.50+$69.75+$16.3125+$45+$1.125)
Trey’s NMI $862.3125
Trey’s NMI=Gross monthly income-Total Monthly deductions
Trey’s NMI=$1,125-$262.6875
Trey’s NMI=$862.3125
Therefore his monthly taxes are:
Gross monthly income:$1,125
Monthly Federal income tax (11.6%): $130.50
Monthly Social security (FICA) (6.2%): $69.75
Monthly Medicare (1.45%): $16.3125
Monthly State Tax (4%): $45
Monthly Local Tax (0.1%): $1.125
Total Monthly deductions $262.6875
Trey’s NMI $862.3125
Answer:
The amount to be received onthe coupon date is $154000.
The amount to be received at bonds maturity is $4154000.
Explanation:
amount received on the next coupon date = 4000*$1000*7.7%*6/12
= $154000
amount to receive when the bonds mature = face value + interest
= 4000*$1000 + $154000
= $4,000,000 + $154000
= $4154000
Therefore, the amount to be received onthe coupon date is $154000 and the amount to be received at bonds maturity is $4154000.
Answer:
Time-Share Estate
Explanation:
Definition:
A time-share estate is an illustration of a concept also known as fractional ownership. It is a structure that allows individuals to purchase the right of occupancy of a unit of real estate for a specific period.
Of course, a good example of why buyers will choose this type of real estate purchase is to get the use of a unit of housing that is not always in use all year round. For instance, time-sharing is popular with resorts, vacation homes and even with recreational vehicles.
It is important to know also that the time-sharing industry is mostly available within the United States and it is a multi-billion dollar industry, meaning the time-sharing concept is popular in the United States.
Different Types
Fixed Weeks or Floating Weeks Option - as the names suggest, owners are either allowed to pre-determine the specific period of the year and the number of weeks to make use of the estate or choose the floating weeks which leaves the occupant the choice to choose weeks within a given period say January-March, September-November etc.
<h3>limit the time in which an injured party may sue. only apply to the sale of goods. </h3><h3 />
The length of time allowed under a statute of limitations varies depending upon the severity of the offense as well as the jurisdiction it is being disputed.
<h3>What is Statue of Limitations ?</h3>
A statute of limitations is a law that sets the maximum amount of time that parties involved in a dispute have to initiate legal proceedings from the date of an alleged offense, whether civil or criminal.
- Cases involving severe crimes, like murder, typically have no maximum period.
Learn more about Statue of Limitations here:
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