Thursday, December 8, 2011

SOLVE PROBLEMS INVOLVING MONEY???????????? MATHEMATICS AND THE CONSUMER????????? MATHEMATICIANS HELP??????

PLEASE HELP. EXPLAIN THOROUGHLY AND SHOW ALL THE STEPS OF WORKING IN BASIC ENGLISH.








1. LAST WEEK, STACEY WORKED FOR 40 HOURS AT ORDINARY TIME AND 3 HOURS OVERTIME. HER HOURLY RATE OF PAY FOR ORDINARY TIME IS $15.65. THE OVERTIME RATE IS TIME-AND-A-HALF WHICH IS ORDINARY TIME X 1.5. CALCULATE STACEY'S PAY BEFORE TAX(GROSS WAGE) FOR THE WEEK








2. CRAIG'S GROSS PAY PER FORTNIGHT IS $2109.58. HE PAYS TAX AT A RATE OF 22 CENTS IN THE DOLLAR OR 22%. CALCULATE CRAIG'S NET PAY PER FORTNIGHT.








3. LOUISE BOUGHT A WASHING MACHINE AND DRYER COMBO ON HIRE PURCHASE. THE CASH PRICE WAS $1099.95. LOUISE PAID A DEPOSIT OF 20%. SHE PAID THE BALANCE IN 26 FORTNIGHTLY INSTALLMENTS OF $41.65. HOW MUCH DID LOUISE PAY FOR THE WASHING MACHINE AND DRYER COMBO?








4. SUE SHARES A FLAT WITH THREE OTHER PEOPLE. THE WEEKLY RENT COSTS $90 PER PERSON AND THE FOOD $65 PER PERSON. A POWER BILL FOR $128 AND A PHONE BILL FOR $80 HAVE TO BE PAID OVER THE NEXT MONTH(4 WEEKS). HOW MUCH SHOULD EACH OF THE FLAT MATES PAY EACH WEEK TO COVER THE FLAT EXPENSES?|||1) Wages for 40 hours worked = 40 * $15.65 = $626


Wages for 3 hours overtime = 3 * $15.65 * 1.5 = $70.425


Gross wages for the week = $626 + $70.425 = $ 696.425


2) Gross pay = $2109.58


Tax = $2109.58 * 22/100 = $464.1076


Net pay = $2109.58 - $464.1076 = $1645.4724

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