Consumer Math Unit 3 Lesson 15 Unit Test ALL ANSWERS 100% CORRECT SPRING FALL 2023/24 EDITION LATEST GUARANTEED GRADE A+

Voluntary deductions include_____. Health insurance premiums FICA is an______. involuntary deduction based on a percentage of gross pay An example of a fixed expense is_______. Mortgage Deductions from your pay such as FICA, federal withholding, and state withholding are_______. Involuntary and fixed Suppose that your net income for the month is $1,500 and that your total expenses are $2,500. Which statement is accurate? You have a deficit of $1,000 Compounding interest means interest accrues______. More quickly than simple interest When you spend more than you make, you have an_____. Deficit You work 40 hours/week for 50 weeks and are given the option to be paid hourly or to go on salary. In which situation will you earn the most? $33,00/year with a 10% bonus You receive your pay stub and your gross pay is $1,200.00 and you net income is $836.00. How much FICA is withheld at 7.65%? $91.80 What is the total of your fixed expenses? Mortgage: $1,034.78 Utility bill: $168.34 Credit card: $54.21 Groceries: $98.75 ...CONTINUED....