A weekly budget is shown in the table:
Calculate the weekly expenses.
Calculate the weekly savings.
Calculate the percentage of income saved correct to two decimal places.
Calculate the percentage of income spent on mortgage payments correct to two decimal places.
Calculate the amount paid on the mortgage in one year.
| Income | Expenses | ||
|---|---|---|---|
| \text{Earnings} | \$505 | \text{Mortgage} | \$147 |
| \text{Electricity} | \$23 | ||
| \text{Food} | \$64 | ||
| \text{Council Rates} | \$22 | ||
| \text{Insurance} | \$20 | ||
| \text{Water} | \$64 | ||
| \text{Clothing} | \$46 | ||
| \text{Entertainment} | \$56 |
James's monthly expenses include: rent, food, pay TV, travel, insurance, clothing, repairs.
Determine whether the following expenses are fixed:
Pay TV
Travel
Insurance
Clothing
Repairs
Rent
Determine whether the following expenses are variable:
Pay TV
Travel
Insurance
Clothing
Repairs
Rent
Amelia earns a weekly salary of \$723 and receives income from other sources of \$126. Her weekly expenses are: rent \$199, groceries \$51, petrol \$33, electricity \$33, telephone \$23, magazines \$13 and clothes \$62. Calculate:
Sally earns \$610 per week. Her weekly work related expenses are \$185 on travel and \$86 on lunch. What percentage of her weekly income goes towards work related expenses? Round your answer to two decimal places.
Amerie pays rent of \$239 per week, and must budget for electricity and water costs of \$533 per quarter.
How much is the weekly cost of water and electricity?
How much should Amerie put aside each week to cover her expenses?
Sally earns a weekly salary of \$1195 and receives income from other sources of \$181. Her weekly expenses are on the right:
Calculate:
The percentage of income saved, correct to two decimal places.
The percentage of income spent on magazines and clothes, correct to two decimal places.
The number of full weeks needed to accumulate enough savings to pay for a holiday that costs \$3800.
Rent \$122
Groceries \$97
Petrol \$60
Electricity \$46
Telephone \$28
Magazines \$10
Clothes \$79
Tina wants to take out a car loan, making regular monthly repayments. She expects the other costs to be:
\$50 per week for petrol
\$110 per month for insurance
\$40 per annum for the renewal of her driver's license
\$310 every six months for servicing
\$750 per annum for her Green Slip (third party insurance)
\$600 per annum for registration
Calculate the equivalent annual cost of the following:
Petrol
Insurance
License
Servicing
Green Slip
Registration
What is the total annual cost of running the car?
If Tina has an annual income of \$59\,000, and can spend 19\% of it on buying and running the car, calculate the maximum monthly repayment she can afford to make.
The normal pay rate is \$13.40 per hour.
What is the time-and-a-half rate?
What is the double time rate?
For an hourly rate of \$30, calculate the income earned for working:
35 hours at normal rates and 6 hours at time-and-a-half.
28 hours at normal rates and 5 hours at double time.
29 hours at normal rates, 9 hours at time-and-a-half and 7 hours at double time.
8 hours at time-and-a-half and 7 hours at double time.
Calculate the equivalent number of hours worked at normal pay for working:
33 hours at normal rates and 10 hours at time-and-a-half
37 hours at normal rates and 5 hours at double time
21 hours at normal rates, 10 hours at time-and-a-half and 8 hours at double time
7 hours at time-and-a-half and 10 hours at double time
A call centre worker is paid \$20 per hour for a normal 37-hour week, and time-and-a-half for each hour worked thereafter. Calculate his income for a week in which he works:
27 hours
45 hours
For each week, Sarah earns a wage of \$18 per hour for the first 23 hours, time-and-a-half for the next 9 hours, and double time after that. Calculate her weekly income if she works:
18 hours per week.
27 hours per week.
37 hours per week
Dave, a delivery driver, is paid \$10 per hour, plus a uniform allowance of \$15 per week, \$92 per week for depreciation on his car, and a travel allowance of 37 cents per kilometre. Calculate his weekly income, if he worked 28 hours and travelled 1284 km.
A job advertisement states that the hourly wage based on a 35-hour working week is \$38 and that there is a 17\% holiday loading on 4 weeks wages. How much holiday loading would the employee receive?
Calculate the value of a 7\% annual bonus, for an income of:
\$88\,000 per annum.
\$7000 per month.
\$3900 per fortnight.
\$1500 per week.
Carl earns \$910 per week. Calculate his normal hourly rate of pay if he works:
34 hours at normal rates and 10 hours at time-and-a-half.
35 hours at normal rates and 10 hours at double time.
34 hours at normal rates, 7 hours at time-and-a-half and 6 hours at double time.
Jack needs to earn \$381.15 this week to cover his expenses. His normal hourly rate is \$12.10 and he is rostered to work 24 normal hours from Monday to Friday.
How much will he earn from Monday through to Friday?
Calculate the amount he needs to earn on Saturday.
Hence, calculate how many hours Jack must work on Saturday, where he will earn time-and-a-half.