1.) The answer is 825.75 (multiply the given tax rates to the gross pay)
2,785 x 13% federal taxes = 362.05
2,785 x 9% state tax = 250.65
2,785 x 7.65% FICA = 213.05
 825.75

2.) The answer is 288.60 (multiply the interest rate to the balance, no need to add a late payment fee since they paid on 6/1, not after)
2,748.56 x 10.5% = 288.60

3.) The answer is 182.13 (multiply the APR to the original purchase price, no need to add the sales tax)
 1,500 x 11.75% = 182.13

4.) The answer is 371.92 (deduct the reward to the interest)
Interest : 2,975.34 x 13.5% = 401.67
Reward : 2,975.34 x 1% = 29.75
371.92

5.) The answer is 1,339.13 (deduct the interest to the monthly payment)
Monthly payment : 2,236.00
Monthly interest : 896.87 [(231,450 x 4.65%) / 12 months]
 1,339.13

Hope this helps! :)

4 0

2 years ago