Finance Answers

Activity One - Analyzing Your Pay Stub

This module identifies the different types of taxes and how taxes impact our finances.

Analyze this sample pay stub and answer the questions that follow.

Sample Pay Stub: https://lrccd.instructure.com/courses/159612/files/33420065/preview

Question 4:

What was the largest deduction for this pay period?

a. FICA Medicare Tax

b. FICA Social Security Tax

c. Federal Tax

d. NC State Tax

Activity One - Analyzing Your Pay Stub

This module identifies the different types of taxes and how taxes impact our finances.

Analyze this sample pay stub and answer the questions that follow.

Sample Pay Stub: https://lrccd.instructure.com/courses/159612/files/33420065/preview

Question 3:

Which statement below accurately describes Hope's gross wages?

a. Gross wages are calculated by multiplying Hope’s hourly rate by the number of hours she worked

b. Gross wages are Hope’s fixed salary, which she receives for every pay period

c. Gross wages are calculated by subtracting all of Hope’s deductions from her gross income

d. Gross wages are how much Hope has earned over the course of the entire year

Activity One - Analyzing Your Pay Stub

This module identifies the different types of taxes and how taxes impact our finances.

Analyze this sample pay stub and answer the questions that follow.

Sample Pay Stub: https://lrccd.instructure.com/courses/159612/files/33420065/preview

Question 1:

About how frequently does Hope receive a paycheck?

a) Daily

b) Weekly

c) Every two weeks

d) Monthly

Activity One - Analyzing Your Pay StubThis module identifies the different types of taxes and how taxes impact our finances.

Instruction: Complete the Reading a Pay Stub interactive.

Extra Direction: Answer the following question as if you were a sophomore (15/16 years old) and learning about personal finance.

Link: http://www.tv411.org/finance/earning-spending/reading-pay-stub/activity/1/1

Question: Was any information from the interactive surprising to you?

Where Do Our Federal Taxes Go?

Most Americans do not know where our federal tax dollars go. The textbook chapter has a great link to an article on Federal Taxes

Context Link: https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go

Please read the article and identify one federal tax item you feel is the most important item that should be paid by your tax dollars. Please provide the reason why you selected this item as the most important.

Instructions:

1. For this discussion board read the article - on Federal Taxes
2. Research where your federal tax dollars go to.
3. Identify one item you feel is the most important item for your dollars to be spent on.
4. Please provide the reason why you selected this item as the most important.

Discuss how the Kenyan public sector expended its revenue in the financial year (FY) 2015/2016, in accordance with the functional classification of public sector expenditure. Please refer to Table 5.8 of the Economic Survey 2019.

b) Computing percentages to (a) above, as given in Table 5.8, identify public sector functions that took most of the revenue, arranging in a decreasing order i.e., from the highest amount to the lowest amount, showing the percentages respectively.

Looking at the Economic Survey 2019, able 5.10. With specific reference to the financial year (FY) 2016/017

i) Compute the percentages on total external debt. Arrange in order of lending amounts and percentages, countries from the largest lender to the smallest lender? Show the percentage of each country on total external debt for 2016/2017.

ii) What is the order of lending of international institutions from the largest to the smallest lender. Show the percentage of each international institution on total external debt for 2016/2017.

Who are the actors in the foreign exchange market? 10marks

equity account increased by 1 million and liabilities fell by 2 million then assets would be what amount?

Context Links: https://saylordotorg.github.io/text_personal-finance/s05-personal-financial-planning.html + https://saylordotorg.github.io/text_personal-finance/s06-basic-ideas-of-finance.html

Instruction: Implementing the personal finance terms within the provided links above, respond to the following prompt.

Extra Directions: Answer this prompt as if you were a sophomore around the age of 15-16 in high school.

Prompt: The quote by Adam Smith identifies you can make money if you have money. If you were given $100,000 dollars today how would you use this money to make additional money in the future?

Requirements: Create a list of 3 options you could take to make money from the $100,000; identify the pros and cons of each option and identify your first choice.

1. Create your list of three options.
2. Identify the pros and cons of each option.
3. Weigh each option and identify your first choice.

Context Links: https://saylordotorg.github.io/text_personal-finance/s06-basic-ideas-of-finance.html + https://saylordotorg.github.io/text_personal-finance/s05-personal-financial-planning.html

Instructions: Implementing the personal finance terms within the provided links above, respond to the following prompt.

Money Makes Money

The quote by Adam Smith identifies you can make money if you have money. If you were given $100,000 dollars today how would you use this money to make additional money in the future?

Please create a list of 3 options you could take to make money from the $100,000; identify the pros and cons of each option and identify your first choice.

Instructions

1. Read the discussion board.
2. Create your list of three options
3. Identify the pros and cons of each option.
4. Weigh each option and identify your first choice.