Personal Finance

Carol Jones is a receptionist in a doctor’s office. She worked 35 hours this week. If her regular pay is $9.68 per hour, what is Carol’s overtime pay rate

• $9.68

• $14.52

• $338.80

Lucy makes 9% commission on car sales. Her average bi-weekly sales are $32,500. Find her gross monthly income.

• $6337.50

• $633,750

• $5850

• $11,700

Darin earns $52,000 annually as a martial arts instructor. He contributes $125 each month for insurance and $50 per month for retirement. Calculate his Social Security contribution. He is married and claims 2 allowances.

• $3216.25

• $260 92

• $257.82

• $126.58

Cecily has a FIT taxable amount of $3760 bi-weekly. Choose the correct process to calculate the FI tax for this situation.

• tax = $71.70 + (0.15)(3760 - 1050)

• tax = 719.80 + (0.28)(3760 - 3623)

• tax = 402.00 + (0.25)(3760 - 3252)

• tax = 435.55 + (0.25)(3760 - 3523)