can someon help on these 2 questions please.

3. You (or your parents) earn $53,698.00/yr and you have deductions of FICA (7.65%), federal tax withholding (11.5%), and state tax withholding (9%). How much is the allowed housing expense for the year? (1 point)
$ /year

4. You (or your parents) plan to pay $1,275.00/month for a mortgage. How much is the minimum realized income per month to the nearest penny

Question

can someon help on these 2 questions please.


3.   You (or your parents) earn $53,698.00/yr and you have deductions of FICA (7.65%), federal tax withholding (11.5%), and state tax withholding (9%). How much is the allowed housing expense for the year?  (1 point)
$    /year


4.   You (or your parents) plan to pay $1,275.00/month for a mortgage. How much is the minimum realized income per month to the nearest penny

amistre64 · Answer

add up your percents, what do you get?

anonymous · Answer

for # 3?

amistre64 · Answer

yep

anonymous · Answer

28.15%

amistre64 · Answer

good; now what is the monies multipled by .2815 ?

anonymous · Answer

15115.987

anonymous · Answer

15115.98

amistre64 · Answer

good, now subtract that form the monies to find out how much you got left to play with after taxez and stuff is taken out.

a quicker method mighta been: monies(1-.2815) to get the same results

anonymous · Answer

? i dont get do i subtract $1,275.00/month from it ?

amistre64 · Answer

how about we do this one step at a time so that when we get to that step we know what we got to play with

anonymous · Answer

ok

amistre64 · Answer

what percent of take home is spose to be set aside for houseing?  that part you dint include to finish up #3

anonymous · Answer

would that be the 15115.98

amistre64 · Answer

53,698-53,698*.2815 = 38,582.01   this is how much we have to play with; what is our allowance for housing?

anonymous · Answer

$1,275.00/month ?

amistre64 · Answer

no, thats how much they want to pay; question #3 says suggests that there is a certain amount from your take home pay that is allowed for housing expenses; then #4 would suggest if that particular payment is within the allowance; and if not then how much has to be made in order to be able to make that

anonymous · Answer

im sorry but i got lost.

anonymous · Answer

i hve to go to bed any ways its already 1 o clock in thee morning.lol

amistre64 · Answer

if you have $10 to spend a week, but you want to spend $50 a week; do you think you will stay within your budget?

anonymous · Answer

btw no

amistre64 · Answer

were missing the part that budgets the money for housing to determine if they can afford it

but good night :)

anonymous · Answer

gn