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Jeff Jones earns $1200 per week

Posted by:Prof. Lexx Posted on:May 20,2016
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1: Jeff Jones earns $1200 per week. He is married and claims four withholding allowances. The fica rate is as follows: Social security rate is 6.2% on $97,500; Medicare rate is 1.45%. To date his cumulative wages are $6.000.Each paycheck, his employer also deduct $42.50 for health insurance. What is his net pay? Calculate FIT by the percentage method

2: Lisa Kane borrowed$8,000 on an 8% 60 day note. After fifteen days Lisa paid $2,000 on the note. On day 45 Lisa paid $1,000 on the note. What is the total interest and ending balance due by the US rule? Use ordinary interest.

3: A condo is advertised in the Wall street journal for $350,000.It states in the ad that a 20% down payment is required. The rate of interest is 11% on a 25 year mortgage. What would be A: the monthly payment along with B: the total cost of interest.

4: Jim Smith who lives in territory 5 carries 10/20/5 compulsory liability insurance along with optional collision that has a $200 deductable.Jim was at fault in an accident that cause $1,800 damage to the other auto and $600 to his own. Also, the court awarded $13,000 and 8,000 respectively, to the two passengers in the other car for personal injuries. How much the insurance company pay and what is Jim share of responsibility?

5: Mel’s Furniture received an invoice dated September 27 for five bedroom sets at $3,000 each. The invoice indicated a trade discount of 5/8/3. The seller of the furniture prepaid the freight of $200.Terms were 2/10 EOM.Assuming Mel pays on November 2, what amount would be paid? (Be sure to include the freight cost.)

6): Ray Long wants to retire in Arizona when he is 70 years of age. Ray is now 50. He believes he will need $130,000 to retire comfortably. To date, Ray has set aside no retirement money. Assume Ray gets 14% interest compounded semiannually. How much must Ray invest today to meet his $130,000 goal?

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Prof. Lexx

Overview I have a Bachelor of Arts, majoring in English and minoring in History. I have worked in various fields ranging from academic research to freelance translating to editing to customer support and data entry. These include editing my old university's newspaper as well as co-leading their creative writing team; serving as a junior member in the history department's research network; publishing music and film reviews for several different magazines and webzines; and translating papers and books for numerous researchers in various languages, including Russian, Spanish, and Romanian. I am also a skilled typist, with a rate of at least 70 words per minute, and have myself digitized dozens of books and essays for both private and commercial use. I have a very strong work ethic, and make sure to prioritize the task I am given so that it is completed as quickly as possible. I am organized and disciplined, ensuring a job done professionally and efficiently.

    I have a background of 8 years in writing profession and currently pursuing also as an editor and proofreader. I have a knack for writing and thus, it was obvious to enhance my skills and serve others. Currently joined ‘Member of Association of Professional Writers and Editors’ a

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