Economics Questions HELP! You are paid $8.25/hour. you work 35 hours/week for 3 weeks. Your involuntary deductions are FICA (7.65%), federal withholding (13%) and state withholding (9%). How much is your realized income? You have a credit card with an initial balance of $3,168.00 and an interest rate of 12.75% APR. IF you make no payments on the card for three months, how much is your balance by the end of the third month?
question: for the first question do you add or multiply the percentages? (are the percentages applied at the same time or sequentially?)
I think you would multiply the percentages.
first 8.25 *35*3 = Total Deductions Total * .0765 = Total * .13 = Total * .09 = do these and then add the up, deduct them from the total at the top Total - deductions = realized income
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