Scenario You will be recording 2 months of income and expenses, April and May for both a checking account and a savings account. This will show your knowledge of unit rates, sales tax, tips, discounts markups, compound interest, percent of change, and maintaining your bank balance. For the purpose of this project, you will be going to college and your parents will be paying your rent, utilities, food, car insurance, and other big bills. You do have a part-time job and will be expected to cover some of your expenses as given in the instructions Each section gives you the date(s) that income and expenses happen (note: they are not in chronological order). Use these dates for filling out your bank account register. The register must include the date, transaction description, credit/debit, and current balance. You can use a standard written register or an Excel spreadsheet. Beginning Information: You begin the month with $54.27 in your checking account and $1200.00 in your savings account. Your job pays you $12.25/hr You work 15 hours/week Between income taxes and other deductions, your company takes 4.99% for income tax, 6.2% for Social Security and 1.45% for Medicare, out of your paycheck before they deposit net pay into your bank account every Friday beginning April 1". How much is your net pay?_ Monthly Expenses: Savings: It is important to pay yourself first in the form of putting money into your savings account. Each paycheck, deposit 10% of your net pay into your savings account. Amount deposited every week into savings: Reduct savings amount from take home pay before recording pay deposit into your checking account! Amount of take home pay to be recorded into checking account after deducting savings:
Scenario You will be recording 2 months of income and expenses, April and May for both a checking account and a savings account. This will show your knowledge of unit rates, sales tax, tips, discounts markups, compound interest, percent of change, and maintaining your bank balance. For the purpose of this project, you will be going to college and your parents will be paying your rent, utilities, food, car insurance, and other big bills. You do have a part-time job and will be expected to cover some of your expenses as given in the instructions Each section gives you the date(s) that income and expenses happen (note: they are not in chronological order). Use these dates for filling out your bank account register. The register must include the date, transaction description, credit/debit, and current balance. You can use a standard written register or an Excel spreadsheet. Beginning Information: You begin the month with $54.27 in your checking account and $1200.00 in your savings account. Your job pays you $12.25/hr You work 15 hours/week Between income taxes and other deductions, your company takes 4.99% for income tax, 6.2% for Social Security and 1.45% for Medicare, out of your paycheck before they deposit net pay into your bank account every Friday beginning April 1". How much is your net pay?_ Monthly Expenses: Savings: It is important to pay yourself first in the form of putting money into your savings account. Each paycheck, deposit 10% of your net pay into your savings account. Amount deposited every week into savings: Reduct savings amount from take home pay before recording pay deposit into your checking account! Amount of take home pay to be recorded into checking account after deducting savings:
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter1: Variables, Expressions, And Integers
Section1.5: Adding Integers
Problem 45E
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Question
Transcribed Image Text:8:59
Name
Due Date:
Consumer Math-Final
Project
important that you read and follow the directions carefully. Your grade will be based on the rubric, which
includes not only correct calculations but also showing work and other information as requested. Organization
and neatness count!
Scenario
You will be recording 2 months of income and expenses, April and May for both a checking account and a
savings account. This will show your knowledge of unit rates, sales tax, tips, discounts markups, compound
interest, percent of change, and maintaining your bank balance. For the purpose of this project, you will be
going to college and your parents will be paying your rent, utilities, food, car insurance, and other big bills. You
do have a part-time job and will be expected to cover some of your expenses as given in the instructions.
Each section gives you the date(s) that income and expenses happen (note: they are not in chronological
order). Use these dates for filling out your bank account register. The register must include the date,
transaction description, credit/debit, and current balance. You can use a standard written register or an Excel
spreadsheet.
Beginning Information:
You begin the month with $54.27 in your checking account and $1200.00 in your savings account.
Your job pays you $12.25/hr
You work 15 hours/week
Between income taxes and other deductions, your company takes 4.99% for income tax, 6.2% for Social
Security and 1.45% for Medicare, out of your paycheck before they deposit net pay into your bank account
every Friday beginning April 1st
How much is your net pay?.
Monthly Expenses:
Savings: It is important to pay yourself first in the form of putting money into your savings account. Each
paycheck, deposit 10% of your net pay into your savings account.
Amount deposited every week into savings:
educt savings amount from take home pay before recording pay deposit into your checking account!
Amount of take home pay to be recorded into checking account after deducting savings:
OMO
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