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Checking accounts financial algebra

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MyWork Form 23/5/17 19)01 Print this page MTHH047055: Unit 2 Evaluation Student ID: C88176220 Student Name: Marin, Pol Course ID: MTHH047055 Course Name: Financial Algebra Evaluation ID: 2 Evaluation Name: Unit 2 Evaluation Unit 2 Evaluation Financial Algebra (MTHH 047 055) This evaluation will cover the lessons in this unit. It is open book, meaning you can use your textbook, syllabus, and other course materials. You will need to understand, analyze, and apply the information you have learned in order to answer the questions correctly. Multiple Choice Choose the answer that best completes the statement or answers the question. 1. Rewrite these inequalities in interval notation. At least 3,000, but less than 30,000: a. b. c. d. 2. Rewrite these inequalities in interval notation. More than 45, but at most 80: a. b. 45 < t > 80 c. d. 3. Given the taxable income amount of 91,234, express the tax table line in interval notation. Use the tax tables in the textbook Appendix on pages 527 – 538. a. b. c. d. https://mywaycool.nebraska.edu/?ActionFile=student/mywork&Action=View+Work&gb_uri=2783955&ptype=L Página 1 de 11 MyWork Form 23/5/17 19)01 4. Given the taxable income amount of 18,768, express the tax table line in interval notation. Use the tax tables in the Appendix of your textbook on pages 527 – 538. a. b. c. d. 5. Find the taxes owed. Taxable income: 65,762; filing status: married, filing jointly. Use the tax tables in the Appendix of your textbook on pages 527 – 538. a. $9,131 b. $9,119 c. $12,788 d. $11,506 6. Find the taxes owed. Taxable income: 34,584; filing status: single. Use the tax tables in the Appendix of your textbook on pages 527 – 538. a. $4,975 b. $4,988 c. $5,000 d. $4,376 Refer to this tax schedule for answering questions 7 and 8. If your taxable income is: Over- The tax is: But not over- Of the amount over- $0 $16,050 ...................10% $0 16,050 65,100 $1,605.00 + 15% 16,050 65,100 131,450 8,962.50 + 25% 65,100 131,450 200,300 25,550.00 + 28% 131,450 200,300 357,700 44,828.00 + 33% 200,300 96,770.00 + 35% 357,700 357,700 ................. 7. Jay and Irene's taxable income is $212,760. Find the amount of tax that they owe. https://mywaycool.nebraska.edu/?ActionFile=student/mywork&Action=View+Work&gb_uri=2783955&ptype=L Página 2 de 11 MyWork Form 23/5/17 19)01 a. $44,828.00 b. $12,460.00 c. $70,210.80 d. $48,939.80 8. Audrey and Chuck's taxable income for this year is $89,756. Find the amount of tax that they owe. a. $6,164.00 b. $15,126.50 c. $16,275.00 d. $8,962.50 Use this table to answer questions 9 and 10. 9. If the tax that an individual who is Head of Household owes is $15,664, identify the taxable income interval to determine that tax. a. b. c. d. https://mywaycool.nebraska.edu/?ActionFile=student/mywork&Action=View+Work&gb_uri=2783955&ptype=L Página 3 de 11 MyWork Form 23/5/17 19)01 10. If the tax that an individual who is Single owes is $17,149, identify the taxable income interval to determine that tax. a. b. c. d. 11. Cassidy's gross income for the year included salary, $11,400; commission, $17,720; and interest, $540. Her adjustments to income were payments to a retirement plan, $1,000 and 2 exemptions at $4,000 each. Find her taxable income. a. $29,120 b. $9,000 c. $20,660 d. $24,120 Examine this biweekly paystub to answer questions 12 and 13. 12. Assuming Stub's payroll and deductions are the same all year long, how much will he pay in federal taxes for the year? a. $7,320.04 b. $14,640.08 c. $281.54 d. $3,378.48 13. What is the total of federal and state income taxes that Stub will pay for the full year? a. $9,599.98 b. $1,998.46 c. $19,199.96 d. $12,989.86 https://mywaycool.nebraska.edu/?ActionFile=student/mywork&Action=View+Work&gb_uri=2783955&ptype=L Página 4 de 11 MyWork Form 23/5/17 19)01 14. Sandy just received her first pay check. Her gross pay was $399.15. She has the following deductions: Social Security tax 6.2%, Medicare tax 1.45%, federal withholding tax $76.56, and state withholding $24.75. What is her take home pay for the week? a. $131.85 b. $297.84 c. $300.00 d. $267.31 This W-2 form is used for questions 15 and 16. 15. How much did Leslie pay in taxes in 2001? a. $56.96 b. $377.52 c. $4,150.27 d. $320.56 16. What percentage of her income was deducted from Leslie's salary due to taxes? a. 4.5% b. 1.4% c. 2.8% d. 9.1% 17.

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