GAS: $200 $350 $500 UTILITIES: SAVINGS ACCOUNT NET SALARY:

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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The type of math is AMDM
USE THE FOLLOWING INFORMATION TO CALCULATE A MONTHLY BUDGET. AFTER ALL CALCULATIONS
ARE COMPLETED AND DEDUCTIONS HAVE BEEN MADE, DETERMINE IF THE BUDGET NEEDS TO BE
CHANGED TO BE MORE EFFECTIVE.
52 WEEKS = 1 YEAR
12 MONTHS = 1 YEAR
40 HOURS = 1 WEEK
8 HOURS =1 WORK DAY
GROSS ANNUAL SALARY: $65,000
GROSS MONTHLY SALARY:
GROSS WEEKLY SALARY:
GROSS HOURLY SALARY:
DEDUCTIONS:
FEDERAL TAX - 22%:
STATE TAX - 15%:
SOCIAL SECURITY - 7%:
$1100
$450
RENT:
CAR:
FOOD - 3%:
ENTERTAINMENT - 8%:
$200
GAS:
$350
$500
UTILITIES:
SAVINGS ACCOUNT
NET SALARY:
IS BUDGET GOOD OR DOES IT NEED REVIEW?
Transcribed Image Text:USE THE FOLLOWING INFORMATION TO CALCULATE A MONTHLY BUDGET. AFTER ALL CALCULATIONS ARE COMPLETED AND DEDUCTIONS HAVE BEEN MADE, DETERMINE IF THE BUDGET NEEDS TO BE CHANGED TO BE MORE EFFECTIVE. 52 WEEKS = 1 YEAR 12 MONTHS = 1 YEAR 40 HOURS = 1 WEEK 8 HOURS =1 WORK DAY GROSS ANNUAL SALARY: $65,000 GROSS MONTHLY SALARY: GROSS WEEKLY SALARY: GROSS HOURLY SALARY: DEDUCTIONS: FEDERAL TAX - 22%: STATE TAX - 15%: SOCIAL SECURITY - 7%: $1100 $450 RENT: CAR: FOOD - 3%: ENTERTAINMENT - 8%: $200 GAS: $350 $500 UTILITIES: SAVINGS ACCOUNT NET SALARY: IS BUDGET GOOD OR DOES IT NEED REVIEW?
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