Monica has a yearly salary of $36,100. Her employer withholds $4320 in state and federal taxes and $3744 in FICA taxes throughout the year. She has the following monthly costs: transportation is $250, cell phone bill is $85, student loans require $260 in repayment, and rent is $500. She is using the average monthly costs for each of the following in order to gain an idea of other monthly expenses: utilities are $150, internet is $105, health insurance is $391, and groceries are $350. What is Monica's monthly net pay amount? Round your answer to the nearest cent, if necessary.

Monica has a yearly salary of $36,100. Her employer withholds $4320 in state and federal taxes and $3744 in FICA taxes throughout the year. She has the following monthly costs: transportation is $250, cell phone bill is $85, student loans require $260 in repayment, and rent is $500. She is using the average monthly costs for each of the following in order to gain an idea of other monthly expenses: utilities are $150, internet is $105, health insurance is $391, and groceries are $350. What is Monica's monthly net pay amount? Round your answer to the nearest cent, if necessary.

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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Deja owns a photo printing business and wants to purchase a new state-of-the-art photo printer that she found online for $9,275, plus sales tax of 5.5%. The supply company is offering cash terms of 2/15, n/30, with a 1.5% service charge on late payments, or 90 days same as cash financing if Deja is approved for a company line of credit. If she is unable to pay within 90 days under the second option, she would have to pay 22.9% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days. Deja has an excellent credit rating but is unsure of what to do. c) If Deja takes the 90 days same as cash and pays within 90 days, what is her payoff amount? If she can't pay until April 30, how much additional money would she owe? (Assume ordinary interest and exact time and a non-leap year)
James has a yearly salary of $36,300 . His employer withholds $4382 in state and federal taxes and $3255 in FICA taxes throughout the year. He has the following monthly costs: transportation is $240 , cell phone bill is $50 , student loans require $230 in repayment, and rent is $675 . He is using the average monthly costs for each of the following in order to gain an idea of other monthly expenses: utilities are $120 , internet is $90 , health insurance is $363 , and groceries are $250 . How much money is left each month for discretionary spending after all necessities are accounted for? Round your answer to the nearest cent, if necessary.
LaMont works for a company in downtown Chicago. The firm encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $270 per month. a. If LaMont receives one pass (worth $270) each month, how much of this benefit must he include in his gross income each year? b. If the company provides each employee with $270 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year?
Alicia works at a call center as a 911 operator. She works part-time earning $16.45 per hour, averaging 15 to 30 hours per week, 52 weeks per year. To verify her income, she has provided you with her four most recent bi-weekly pay stubs which show her gross earnings of $674.45, $740.25, $641.55, and $822.50. Alicia became delinquent on her student loans and is currently being garnished $75.00 from each of her paychecks. What is Alicia employment income? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
An appliance company has three installers. Larry earns $325 per week, Curly earns $490 per week, and Moe earns $565 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 $ total FUTA tax $ (b) How much SUTA and FUTA tax (in $) does the company owe for the second quarter of the year? total SUTA tax $ total FUTA tax $ Submit Answor
Nancy is a widow with two teenage children. Nancy's gross income is 54200 per month, and taxes take about 22% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase?
Neville has an annual salary of $90,000. He contributes 27.5% of his pre-tax income to his mortgage and 401(k), and he pays $500 per month for car and health insurance (pre-tax, deducted after mortgage and 401(k)). All taxes are calculated based on Neville’s adjusted gross income (pay remaining after mortgage, 401(k), and insurance payments). He must pay: 8% tax on the first $8,000 in income, 18% tax on any income between $8,001 and $40,000, 28% tax on income between $40,001 and $100,000, and a 4% tax on his total adjusted gross income. What is Neville’s approximate quarterly take-home pay after all deductions have been made? (A) $10,511.00 (B) $11,272.50 (C) $12,003.34 (D) $14,504.50
Christine Boone is an employee at Americamp Vehicles. She earns a salary of $35,450 annually, paid biweekly. She contributes to the following fringes benefits and other deducations: Medical insurance: $108 per pay period Dental insurance: $29 per pay period 401(k): 5% of gross pay Union dues: $114 per month Additional withholding: $89 per month Required: What is the total annual amount of Christine's fringe benefits and other deductions? Round your answer to 2 decimal places. Medical insurance dental insurance 401(k) union dues additional withholding Total amount of Christine's fringe benefits and other deducations
Bob owns a restaurant. The average price per order is $15 and the average variable cost per order is $9. The restaurant remains open 6 days a week for 50 weeks per year. The rent, utilities and other related expenses are $8,000 per month. Bob pays $3,000 per month to his only employee in the restaurant. Bob also spends $12,000 every year for renovation and maintenance. If Bob wants to earn a before tax profit of $8,000 per month, what should be the daily sales (in dollars) in the restaurant?
Deja owns a photo printing business and wants to purchase a new state-of-the-art photo printer that she found online for $9,275, plus sales tax of 5.5%. The supply company is offering cash terms of 2/15, n/30, with a 1.5% service charge on late payments, or 90 days same as cash financing if Deja is approved for a company line of credit. If she is unable to pay within 90 days under the second option, she would have to pay 22.9% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days. Deja has an excellent credit rating but is unsure of what to do. a) If Deja took the cash option and was able to pay off the printer within the 15-day discount period, how much would she save? How much would she owe? b) If Deja takes the 90 days same as cash option and purchases the printer on December 30 to get a current-year tax deduction, using exact time, what is her deadline for paying no interest in a non-leap year? In a leap year?
Carrie Rosenburg worked 45 hours the first week of the calendar year and earns regular wages of $16/hour. She is paid an overtime rate 1.5 times her regular wage rate, contributes 4% of her gross pay to a 401(k) plan, and contributes $30/week to a flexible spending account. Her Social Security tax for the week is $____?
The Lost in Space corporation is trying to finally build a space ship that won't end up stranding everyone on it in some random part of the galaxy. To do so they are considering a new three-year project that will require an initial investment of $400 million. These initial assets will be depreciated straight-line to zero over their three-year tax life. The firm will be able to sell these assets at the end of the project for $45,250,000. The project is estimated to generate the following revenues during it's three year life: $315,485,369 in year one, $325,690,023 in year two, and $344,555,000 in year three. The firm expects that their costs will be equal to 47.75% of the projects same year revenues. They expect that project net working capital (in the form of inventory required) will be equal to 10.25% of the next year's revenue. The firms tax-rate is 21%. What are the project's cash flows from assets for years 0-3? What is the IRR on this project? Use available Excel template and…

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