Chapter R.2, Problem 79E

The expenses and income of an individual are given in table form to the right. Find the net monthly cash flow (it may be negative or positive). Assume that amounts shown for salaries and wages are after taxes and that 1 month= 4 weeks. Income Part-time job: $1400/month Student loans: $6600/year Scholarship: $5500/year The net monthly cash flow is $ (Round to the nearest dollar as needed.) Expenses Rent: $550/month Groceries: $40/week Tuition and fees: $7500/year Health insurance: $40/month Entertainment: $300/month Phone: $70/month CINCI

The expenses and income of an individual are given in table form to the right. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes. When you need to convert between weeks and months, assume that 1 month=4 weeks. Income Part-time job: $700/month College fund from grandparents: $400/month Scholarship: $5400/year The net monthly cash flow is $. (Round to the nearest dollar as needed.) Expenses Rent: $500/month Groceries: $70/week Tuition and fees: $3000 twice a year Incidentals: $140/week

Which equation could be used to identify one of the following levels of Federal Income Tax withholding? PERCENTAGE METHOD FOR FIT WITHHOLDING - SINGLE PERSON WEEKLY PAYROLL PERIOD Allowance Rate $63.46 %3D Weekly Taxable Wage The amount of FIT withholding is - Over But not over... $0.00 0.10(gross pay - $51) $14.40 + 0.15(gross pay - 195) $81.90 + 0.20(gross pay - $645) $1 $195 + 195 645 645 1,482 Select one: O A. FIT = 14.4 + 0.15g; where g = gross pay in dollars. O B. FIT = 81.9g + .2(645); where g gross pay in dollars. O C. FIT = 81.9(0.20) + (g - 645); where g = gross pay in dollars. O D. FIT = 0.15g - 14.85; where g = gross pay in dollars.