Marty has weekly gross earnings of $684.20. He is married filing jointly. He lives in Tennessee, which has no State Withholding Tax. He also makes a credit union deposit of $20.00 into savings every check. Find Marty’s weekly net earnings for this pay peri
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- Louise's monthly gross income is $2, 300. Her employer withholds $460 in federal, state, and local income taxes and $184 in Social Security taxes per month. Louise contributes $92 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $43, $33, and $20, respectively. Her monthly payment on an automobile loan is $353. What is Louise's debt payments to income ratio?Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and local income taxes and $330 in Social Security taxes per month. Louise contributes $180 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $105 and $100, respectively. Her monthly payment on an automobile loan is $335. a. What is Louise's debt payments-to-income ratio?Louise's monthly gross income is $2,700. Her employer withholds $540 in federal, state, and local income taxes and $216 in Social Security taxes per month. Louise contributes $108 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $36, $39, and $21, respectively. Her monthly payment on an automobile loan is $289. (a) What is Louise's debt payments-to-income ratio? (Enter your answer as a percent rounded to 1 decimal place.) Debt payments-to-income ratio % (b) Is Louise living within her means? O Yes O No
- Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at $38,200. How much Social Security taxes must he pay this year?Louise’s monthly gross income is $2,800. Her employer withholds $560 in federal, state, and local income taxes and $224 in Social Security taxes per month. Louise contributes $112 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $44, $34, and $21, respectively. Her monthly payment on an automobile loan is $355. (a) What is Louise’s debt payments-to-income ratio? Im not sure how to answer this as a percent rounded to 1 decimal place. (b) Is Louise living within her means?Alan and Samantha Brown have a mortgage with the Bank of America. The bank requires the Browns to pay their homeowner's insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,450.30, their semi-annual property tax bill is $6,470, and their annual homeowner's insurance bill is $980. How much is the monthly payment they make to Bank of America?
- The Bowers have a mortgage with National Trust Bank. The bank requires that the Bowers pay their homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,500.00. Their semi-annual property tax bill is $6,250.00. Their annual homeowner’s insurance bill is $1,200.00. How much is the monthly payment they make to National Trust? $2642.00Shirley Riddle earns $2,333 biweekly. She is single and claims no withholding allowances. She saves 2% of her salary for retirement and pays $22.81 in nonexempt insurance premiums each pay period. The Social Security Tax is 6.2% from earnings to be taxed. The Medicare tax is 1.45% from all earnings. What are her net earnings for each pay period?Karen’s Moore is married, claims five withholding allowances, and earns $3,500 per month. In addition to social security, Medicare, and FIT, Karen pays 2.1% state income tax, 1/2 for state disability insurance (both based on gross income), $43.11 for life insurance, and $72.30 to the creditunion. As payroll manager for Karen’s company, calculate her net take-home pay per month.
- Luna, a self-employed accountant, currently earns $100,000 annually. Luna has been able to save 18% of her annual Schedule C net income. Assume that Luna paid $11,000 in Social Security taxes, and that she plans to pay off her mortgage at retirement, thereby relieving her of her only debt. Luna presently pays $1,500 per month toward the mortgage principal and interest. Based on the information provided herein, what do you expect Luna's wage replacement ratio to be at retirement? Question 2 options: a. 49% b. 53% c. 59% d. 63%Dustin Ambrose is married and claims 3 allowances. His gross weekly pay is $628.00. Each week he pays federal, Social Security, and Medicare taxes, $52.00 for medical insurance, and $23.50 toward his retirement fund. Find The Net PayRafaela has a gross monthly income of $3,900. She has 15 remaining payments of $189 on a used car. The taxes and insurance on a house Rafaela may purchase are $115 per month. What maximum monthly payment does the bank's loan officer feel that Rafaela can afford? The maximum monthly payment includes principal and interest for the amount of the loan as well as the taxes and insurance. Round your answer to the nearest cent.