1. Logan earns a total of $73,000 annually. He is a single filer and has a taxable income of $50,000. The tax brackets and tax rates are as follows: $0-$9,525: 10% $9,525-$38,700: 12% $38,700-$82,500: 22%

Calculate Logan's effective tax rate.

A.22%

B. 9.51%

C. 15%

D> 13.87%

2. Grace opens a checking account and is writing a check to make a payment to her physician.

Which of the following should be filled by Grace on the check?

A. The checking account number

B. The name of the business the physician works for

C. The check number

D. The routing number

3. Sara is 27 years old and earns $70,000 a year. The formula for savings ratio is as follows: Savings Ratio = Savings Income

How much should Sara save to be productive and achieve her desired savings ratio of 12%?

A. $6,800

B. $12,000

C. $7,000

D. $8,400

4.

Which of the following is true about overtime pay?

A. It is mandatory that all salaried employees receive overtime pay.

B. It is a reliable method of increasing income in the long term.

C. It must be at least one and a half times the regular wage.

D. It is the additional payment employees receive based on their performance.