Unit 5 Challenge

Josephine is looking for a new part-time job as a plumber. She responds to an ad for a position that pays $44,500. What would her weekly salary be to the nearest cent if she gets this job?

• $3708.33

• $855.77

• $1,711.54

• $1,204.55

Gabe contributes 15% of the total cost of the individual health care coverage his company offers. He pays $28.80 per week towards this contribution. What is the total value of Gabe's health care coverage for the year?

• $5,598.63

• $224.64

• $4.32

• $9,984.00

Anton works at First National Bank. His employer offers him a pension retirement plan which will be 1.45% of his average salary for the last five years of employment for every year worked. Anton is planning on retiring at the end of this year after 22 years of employment. His salaries for the last five years are $92,000; $92,800; $99,000; $100,500; and $105,000. Calculate Anton's pension.

• $31,217.34

• $97,860

• $45,600

2. Social Security tax is paid on all your income, whereas Medicare tax is paid up to the maximum taxable income amount.

• True

• False

Miquel pays $47 semimonthly for health insurance which is 15% of the total cost. His employer pays the rest. What is the total yearly cost to the nearest dollar of Miquel’s health insurance?

• $1,327

• $3,260

• $5,485

• $7,520

Marcus earned $54,000 last year when the Social Security tax was 6.2% of income up to $94,200. His Medicare tax was 1.45%. How much did he pay in Social Security and Medicare taxes last year?

• $3,348

• $783

• $4,131

• $6919

1. Maryanne began a job that gives her 3 days of vacation each year she is employed, up to a maximum of 24 days of vacation time. How many years will she be at the company when she reaches the maximum amount of vacation time?

• 5 years

• 8 years

• 9 years

• 3 years

Mrs. Brown has been working in a factory for 28 years. She is preparing to retire. Her pension is calculated on the average of her last 3 years’ salaries, when she earned $38,592; $37,590; and $37,010. Her employer will give her 1.8% of that average for each year she worked. Calculate her pension.

• $15,045.63

• $37,730.67

• N/A

• $19,016.20

If Leona receives her paycheck biweekly, how many checks does she receive in a year?

• 52

• 12

• 365

• 26

Kenya pays $66.32 biweekly for health insurance, which is 18% of the total cost. Her employer pays the rest. What is the employer’s annual contribution for Kenya’s health insurance?

• $9,579.55

• $1,724.32

• $7,855.24

• $4444.44