Flashcards in Test 8 Deck (25):

0

## tax on purchase

### sales tax

1

##
r = 2mi

------

B(n+1)

### constant ratio formula

2

## i = prt

### simple interest formula

3

## buying on time

### installment buying

4

## plan to spend money

### budget

5

## real estate tax

### property tax

6

## order directing a bank to pay money

### check

7

## Employee's Withholding Allowance Certificate

### W-4 form

8

## people that hire other people

### employers

9

## identifies check on deposit slip

### transit number

10

## social security and medicare tax

### F.I.C.A.

11

## Wage and Tax Statement

### W-2 form

12

## fee charged for the use of money

### interest

13

## earnings after deductions

### net pay

14

## checking records

### checkbook register

15

## p = $4,000; r = 10%; t = 1 yr.

### $4,000(.1)(1) = $400

16

## p = $12,000; r = 9%; t = 4 yr.

### $12,000(.09)(4) = $4,320

17

## p = $900; r = 13%; t = 3 mo.

### $900(.13)(1/4) = $29.25

18

## p = $500; r = 12 1/2%; t = 1 yr. 6 mo.

### $500(.125)(1.5) = $93.75

19

## p = $30,000; r = 10 1/4%; t = 1 yr.

### $30,000(.1025)(1) = $3,075

20

## Find the sales tax on $612 at 5%.

### Multiply $612 by .05 = $30.60

21

## Find the F.I.C.A tax on $612 at 7.65%.

### Multiply $612 by .0765 = $46.818 = $46.82

22

## Find the property tax at 4 1/2% on a house assessed at $25,000.

### Multiply $25,000 by .045 = $1,125.00 = $1,125

23

## Find the gross income for 24 hours at $7.25 per hour.

### Multiply $7.25 by 24 = $174.00 = $174

24