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Business maths

Business maths. Mohammad Asif Karimi. Your wage is $70,000 per annum from which you pay tax; calculate the tax to the nearest dollar. 70 000 – 35 001 34 999 34 999 0.30 10 499 10 499 + 4350 14 849.70 You pay $14 849.70 tax.

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Business maths

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  1. Business maths Mohammad Asif Karimi

  2. Your wage is $70,000 per annum from which you pay tax; calculate the tax to the nearest dollar. • 70 000 – 35 001 • 34 999 • 34 999 0.30 • 10 499 • 10 499 + 4350 • 14 849.70 You pay $14 849.70 tax

  3. After subtracting the tax from your wage, calculate your monthly take home wage. • 70 000 – 14 849.70 • 55 150.30 • 55 150.3 / 12 • 4595.86 The monthly wage he gets with tax subtracted is $4595.8

  4. You purchased a motor bike for $5000 and sold it for $4000. Did you make profit or loss? How much profit or loss did you make in percentage. • 5000 – 4000 • 1000 • 1000 / 5000 100 • 20% You have made a 20 percent loss.

  5. Assume that 8% of your income is $ 4000, what is your actual income? • x 0.08 = 4000 • x = 0.08 / 4000 • x = 50 000 Your annual income is $ 50 000.

  6. Select a house, find out the house price and set up a loan over 25 years and make monthly payments on this loan. Assume the current rate is 5% p.a. Compounding monthly. How much do you pay in 25 years? • A = 2088795.07 • At the end of 25 years you would have to pay $2088795.07. $600,000 - $650,000

  7. Purchase a car on hire purchase without a deposit. For convenience make monthly repayments for 3 years at the interest rate of 8% p.a. At simple interest. What would be the monthly repayments? • I = • I = • I = 24 000 • A = 24000 + 150 000 • 17400 • RP = 174 000 36 • Repayment per month $4833.33

  8. Yu planned to invest $ 8500 in a term deposit. You have two investment plans from which to choose: Plan 1. Simple interest at 5 % p.a. Plan 2. Compound interest at 5 % compounding every six months. • Calculate the total interest earned if you have invested your money using plan 1 for a year. • Calculate to the nearest cent, total interest earned if you invested your money using plan 2 for one year. • Calculate the simple interest rate that would provide the same total interest earned under plan2 for an investment of $8500 for one year. Give your answer correct to 2 decimal places.

  9. Yu planned to invest $ 8500 in a term deposit. You have two investment plans from which to choose: a) b) c)

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