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H&R Block Quiz 1 with Accurate Answers

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"Life expenditures" in the simulation, such as groceries, eat out meals, and entertainment is reflected in monthly credit card charges. Approximately how much will these total each month in the simulation? correct answer $500 to $750 A person has $4000 to put into savings. Assuming all options were offered by the same institution, which account is likely to offer the highest interest rate? correct answer Certificate of deposit -early payment penalty withdrawal (much higher interest) Debbie has utilized 95% of her available credit on her credit card. What will be her daily penalty at this level? correct answer 25 points How can a participant earn the Perfect Pay trophy? correct answer Pay all of their bills in full and on time. How do you calculate the amount withheld from her pay for FICA? correct answer amount earned x 7% How does a student pass the Road Test? correct answer earn at least five of the six trophies In which situation would an employer be required to pay overtime? correct answer An hourly employee works 48 hours in one week. Many employers offer employees direct deposit of their paychecks and encourage them to do so. Should you have your check direct deposited if you have the

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H&R Block Quiz 1 with Accurate
Answers
"Life expenditures" in the simulation, such as groceries, eat out meals, and
entertainment is reflected in monthly credit card charges. Approximately how
much will these total each month in the simulation? correct answer $500 to $750


A person has $4000 to put into savings. Assuming all options were offered by the
same institution, which account is likely to offer the highest interest rate? correct
answer Certificate of deposit -early payment penalty withdrawal (much higher
interest)


Debbie has utilized 95% of her available credit on her credit card. What will be her
daily penalty at this level? correct answer 25 points


How can a participant earn the Perfect Pay trophy? correct answer Pay all of their
bills in full and on time.


How do you calculate the amount withheld from her pay for FICA? correct answer
amount earned x 7%


How does a student pass the Road Test? correct answer earn at least five of the
six trophies


In which situation would an employer be required to pay overtime? correct
answer An hourly employee works 48 hours in one week.

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