Answer t1. Hgiv2. DuSup4.4 yeann3. Raya works as a sales agent for a certain company. She was able to sell a product worthP42,000 at an interest of 4% to be paid in 4 equal monthly payments. For the 1st term, shewill earn 5.5% in commission which will decrease by 0,5% next term and for each of thesucceeding outstanding balances, Compute Raya's commission for each of the term andin total.

There are significant distinctions between commissions and fees, at minimum in the context of…

Answered: 3. Raya works as a sales agent for a…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Martin Peters earns $6.10 per hour for the first 40 hours each week. He is paid 1 1/2 times regular pay for all hours over 40. Last week he worked 52 hours.1a) Find his gross pay.1b) Find his FICA tax at 7.65%1c) Find his net pay if other taxes and deductions totaled $73.90.
An appliance company has three installers. Larry earns $395 per week, Curly earns $490 per week, and Moe earns $595 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings. (a) How much SUTA and FUTA tax (in $) does the company owe for the first quarter of the year? total SUTA tax $ 1134 total FUTA tax $126 X X
Sky Company employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $110,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $940 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. Required a. Answer the following questions. (1) What is Tom's net pay per month? (2) What amount does Tom pay monthly in FICA payroll taxes? (3) What is the total payroll tax expense for Sky Company for January Year 1? February Year 1? March Year 1? December Year 1? b. Assume that instead of $5,300 per month Tom earned $9,700 per month. Answer the following questions. (1) What is Tom's net pay per month? (2) What amount does Tom pay monthly in FICA payroll taxes? (3) What is the total payroll tax expense for Sky Company for January Year 1? February Year…
Ann earns a salary of 150 RO a week and a commission of 7 % on sales. If Ann's sales for one week were 6890 RO, what is her total weekly earnings? Select one: a. 160.5 O b. 632.3 O c. 492.8 O d. 482.3
What is Lucy’s net pay? Show all your work
M purchased a small lot in a subdivision, paying ₱200,000 down and promising to pay₱15,000 every 3 months for the next 10 years. The seller figured interest at 12%compounded quarterly.(a) After making 8 payments, M wished to discharge his remaining indebtedness by asingle payment at the time when the 9th regular payment was due, what must he payin addition to the regular payment then due?(b) If M missed the first 10 payments, what must he pay when the 11th payment is dueto discharge his entire indebtedness? (c) Cashflow Diagram
Luis was granted a loan of P 20,000 by his employer CPM Industrial Fabricator and ConstructionCorporation with an interest of 6% for 180 days on the principal collected in advance. Thecorporation would accept a promissory note for P 20,000 non-interest for 180 days. If discountedat once, find the proceeds of the note.
Eric borrowed $4,695 from Roger and signed a contract agreeing to pay it back 10 months later with 4.15% simple interest. After 3 months, Roger sold the contract to Chris at a price that would earn Chris 5.00% simple interest per annum. Calculate the price that Chris paid Roger. Your Answer: 4 Answer
Sky Company employed Tom Mills in Year 1. Tom earned $5,800 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $920 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. Required a. Answer the following questions: 1. What is Tom's net pay per month? 2. What amount does Tom pay monthly in FICA taxes? 3. What is the total payroll tax expense for Sky Company for January, Year 1? February, Year 1? March, Year 1? December, Year 1? b. Assume that instead of $5,800 per month Tom earned $11,300 per month. Based on this new level of income Tom's new federal income tax withholding is $2,200. Answer the following questions. 1. What is Tom's net pay per month? 2. What amount does Tom pay monthly in FICA payroll taxes? 3. What is the…
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