ASSIGNMENT
1. Figure Wayne's paycheck amount for this week: See Chapter 5. Include your figures for each step.
He worked 25 hours at $15.00 per hour which is ______?
His federal income tax withholding is $45.00. HIs state income tax withholding is $128.55. FICA is 6.20%. Medicare is 1.45%.
What is the net amount of Wayne's check? __________?
2. Create a Budget Worksheet.
Using yourself or someone you know (no names necessary), prepare a one-month work sheet budget. The Sample Budget appears in the Module 4 section. Make sure you have a final figure for your net income for both your expected amount and your actual amount. Be sure to use Microsoft word or excel to submit the budget.
Answer the following questions:
1. When are you most likely to need a cashier's check?
2. Hannah is selling her car on Craig's list. The buyer offered her a good price and was going to give her a personal check. What should she do?
3. Which is the safest for the consumer, the charge card or the debit card? Why?
4. Ted has a checking account that charges $5 per month for 10 checks. After that, the fee is $.25 per check. This month Ted wrote 28 checks. What is cost for the month?
5. If you made $12 per hour this year and were given a cost of living increase of 2%, what would you now make in a week if your worked an average of 30 hours per week.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.