You are paid $11.75/hr. You work 40 hr/wk. Your deductions are FICA (7.65%), Federal tax withholding (10.75%), and state tax withholding (7.5%)

Question

You are paid $11.75/hr.  You work 40 hr/wk.  Your deductions are FICA (7.65%), Federal tax withholding (10.75%), and state tax withholding (7.5%)

anonymous · Answer

please help, I'm failing Consumer Math pretty bad because I don't get how to do this stuff /: I'll give you a medal even for a little help...

anonymous · Answer

Expense	                                                 Amount
Rent (monthly)	                                 $657.00
Telephone (monthly)	                                  $56.34
Groceries (weekly)	                                  $56.00
Clothing (monthly with 1/2 job related)	$106.00
Water & Electric (monthly)	                 $98.87
Weekly Dinner & Movie	                 $40.00


1) Assuming you budget a month as 4 weeks, how much is your total realized income, fixed expenses, and discretionary expenses.
2) If you are able to work 20 hours of overtime the next month and are paid 1.5 times your regular rate, how does this change your budget for that month?
3) How much can you put towards savings each month if you eliminated your discretionary expenses?

anonymous · Answer

Can you help me @IronPatriot? /: