Mohammad Asif Karimi

Your wage is $70,000 per annum from which you pay tax; calculate the tax to the nearest dollar.  –      You pay $ tax

After subtracting the tax from your wage, calculate your monthly take home wage.  –   / 12  The monthly wage he gets with tax subtracted is $4595.8

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 /  20% You have made a 20 percent loss.

Assume that 8% of your income is $ 4000, what is your actual income?  x 0.08 = 4000  x = 0.08 / 4000  x = Your annual income is $

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 =  At the end of 25 years you would have to pay $ $600,000 - $650,000

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 =  A =   RP =  Repayment per month $

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. a) Calculate the total interest earned if you have invested your money using plan 1 for a year. b) Calculate to the nearest cent, total interest earned if you invested your money using plan 2 for one year. c) 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.

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