Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You earn $8.60/hr. You work 32 hr/wk and your deductions are FICA (7.65%), federal tax withholding (10.6%), and state tax withholding (8.25%). How much do

You earn $8.60/hr. You work 32 hr/wk and your deductions are FICA (7.65%), federal tax withholding (10.6%), and state tax withholding (8.25%). How much do you have direct-deposited bi-weekly?

$469.29

$404.54

$452.15

$481.01

You save $15,000.00. You place one-third in a savings account earning a 4.6% APR compounded annually. You then invest one quarter of the remaining balance in a 3-year U.S. Treasury bond earning a 5.2% APR compounded annually and the rest in a stock plan. Your stock plan increases in value 3% the first year, decreases 8% in value the second year, and increases 6% in value the third year. What is the balance of the stock plan by the end of the third year?

$6,802.55

$6,120.03

$7,533.42

$5,722.23

You save $3,260.00 in a savings account earning a 3.55% APR compounded monthly. How much is the total interest earned by the end of the third month?

$23.56

$28.59

$27.01

$21.02

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Why is investment spending unstable? LO10.4

Answered: 1 week ago

Question

2 What people-related issues do you foresee?

Answered: 1 week ago