Question

You have a part-time job paying $8.95/hr and your deductions are FICA (7.65%), federal tax withholding (9.3%), and state tax withholding (5.8%). You save $30.00/wk for a savings account. If you work 15 hours/wk, how much discretionary income is left each week? Assume that all of the income from your part-time job is discretionary.

Answer 1

1.

you want 20% of 180000 so you want $36000

divide that amount by 84 months(7 years) and you'll have how much you need to save each month.

2. 2 years at 8278 = 8278 x 2
2 years at 14675 = 14675 x 2

calculate th cost of the education and then find 10% of the amount... which is simply a case of moving the decimal point 1 place left.

hope it helps

Answer 2

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