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 = <u>213.05 </u> 825.75 <u> </u>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) <u /> 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% = <u> 29.75</u> 371.92
5.) The answer is 1,339.13 (deduct the interest to the monthly payment) Monthly payment : 2,236.00 Monthly interest : <u> 896.87</u> [(231,450 x 4.65%) / 12 months] <u /> 1,339.13