Expenses and Pay CBA

First Name

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Last Name

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You are paid $7.25/hour. You work 40 hours/week for 2 weeks. Your involuntary deductions are FICA (7.65%), federal withholding (14%), and state withholding (7%). How much is your realized income?

• $290.00
• $206.91
• $580.00
• $413.83

You owe $1,456.32 on a credit card with a limit of $3,500. What is your debit ratio? (What you owe/what you are allowed to borrow)

• 40%
• 43.4%
• 35%
• 41.6%

You owe $1,456.32 on a credit card with a limit of $3,500. How much interest has accrued after one month at a rate of 15.5%? Use the formula I=Prt.

• $19.24
• $18.71
• $18.81

You owe $1,456.32 on a credit card with an interest rate of 15.5% a month. You make a payment of $400.00. How much out of the $400 goes towards the principal after interest has been applied.

• $391.36
• $381.19
• $423.50

Your housing and fixed expenses are $685.70/month. If they are 33% of your realized income, how much is your realized income per month?

• $2,077.88
• $3,124.67
• $2,145.11