Applied Arithmetic/D,S&T

The total amount of your salary before taxes are deducted.

• Debit Card

• Net Pay

• Gross Pay

What is the difference between gross income and net income?

• Gross income is income after deductions, while net income is income before deductions.

• Gross income is income taken home, while net income is what you actually get paid.

• Gross income is money earned BEFORE deductions, while net income is money earned AFTER deductions.

• Gross and net income are both the same thing but with different names.

Before taxes and deductions, Mrs. Allen's pay was €1,200. This is considered her -

• Net income

• Gross income

• Deposits

• Income tax

Increase €800 by 10%

• €808

• €880

• €80

After 5 years, how much interest will an investment of €3,000 receive if compounded annually at a rate of 2.2%?

• €344.84

• €287.17

• €300

Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is €75.62. What type of income does this amount describe?

• Gross Income

• Net Income

• Both Gross and Net Income

• None of the above

Rosie's salary has a net income of €235 per week. If she pays €30 in income tax and €15 in payroll tax, how could Juliette determine her gross income? Why?

• 235 – 30 – 15 = €190 Net income minus all deductions equals gross income.

• 235 + 15 = €250 Net income plus payroll tax deductions equals gross income.

• 235 + 30 = €265 Net income plus income tax deductions equals gross income.

• 235 + 30 + 15 = €280 Net income plus all deductions equals gross income.

______ is withheld from a paycheck and is used to fund government services such as health care, national defense, and scientific programs.

• Income tax

• Sales Tax

• Property Tax

• Payroll Tax

Tags

CCSS.RI.1.5

CCSS.RI.2.3

CCSS.RI.2.5

CCSS.RI.3.3

CCSS.RI.3.5

Jenny just received her first paycheck. She noticed that after they deducted €30 for payroll taxes and €60 for medical insurance. Her net pay was €320. How much did Jenny make before the deductions were removed from her gross pay?

• €140

• €410

• €320

The percentage cost of borrowing from someone else.

• Loan

• Budget

• Insurance

• Interest Rate