This is workplace math

Chapter 2 Culminating - Deductions and Living Expenses Note: You can create tables as needed to answer questions. 1. Refer to your work from Chapter 1 culminating, where you applied for the job and got it. What is the job? Tim Hortan's - $16 an hour - 40 hours for full time/5 shifts What did you expect to earn in a week. a month, and a year at that job? ll r Is that gross income or net income? ll 2. Use the tables provided in lesson 2.2 to determine your weekly deductions for income taxes, El. and OFF. 3. Would any other deductions. such as union dues. affect your pay cheque? If so, what might they be? Research or estimate how much they would be. S 4. a. What do your weekly deductions total? is b. What percent of your gross weekly income are the deductions? 0. Calculate your take-home pay for a week and for a month. ll 5. Create a list of living expenses for yourself. w Assume that you are renting, either on your own or sharing. o Classify the expenses as essential or non-essential. n Classify the expenses as fixed or variable. o Include the monthly amount of the expenses that you found (realistic amount). : 6. How frequently would you prefer to be paid to help with meeting your expenses throughout the month? Why? I: 7. a. Does yourjob give you an adequate pay cheque to meet all your expenses? lo. If you could not meet all your expenses, what expenses could you reduce or eliminate? Explain. |:| 8. Why would you want to save money each month? Adiust your expenses as needed to save at least $75 a month. What percent of your gross monthly income will your saving be