David earns a gross income of $890 per week. Each week, 25% of this income is deducted in taxation. David budgets to save 20% of his net income.
How much does he budget to save each week?
- $44.50
- $133.50
- $489.50
- $534.00
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David earns a gross income of $890 per week. Each week, 25% of this income is deducted in taxation. David budgets to save 20% of his net income.
How much does he budget to save each week?
Gayle’s gross pay each week is $952.25 .
The following deductions are taken from her gross pay each week:
• tax $180.93
• superannuation $85.70
• union membership $21.40
• health fund $38.15.
What is Gayle’s net pay each week?
Reece is preparing his annual budget for 2006.
His expected income is:
• $90 every week as a swimming coach
• Interest earned from an investment of $5000 at a rate of 4% per annum.
His planned expenses are:
• $30 every week on transport
• $12 every week on lunches
• $48 every month on entertainment.
Reece will save his remaining income. He uses the spreadsheet below for his budget.
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At the beginning of 2006, Reece starts saving.
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Warrick has a net income of $590 per week. He has created a budget to help manage his money.
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How much money has he put aside altogether to pay the bill? (1 mark)
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How could Warrick reallocate non-essential funds in his budget so he has enough money to pay the bill? Justify your answer with suitable reasons and calculations. (3 marks)
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The tables below show information about fees for MyBank accounts.
• five withdrawals using internet banking
• two cash withdrawals from a MyBank ATM
• four EFTPOS purchases
• two cash withdrawals at other ATMs.
What was the total amount that Li paid in bank fees for the month of September? (3 marks)
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Tai earns a gross weekly wage of $1024. Each week her deductions are:
• tax instalment of $296.40
• health fund contribution of $24.50
• union fees of $15.80.
She also pays $3640 over the year as her share of the household expenses.
What percentage of her net wage does Tai pay for household expenses? (3 marks)
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