Question

I Need help on a Consumer Math Question.

Answer 1

You are debating about whether to buy a new computer for $800.00 or a refurbished computer with the same equipment for $640.00. If a savings account earns 4.5% APR interest.
If you are paid 10.00/hour and your deductions are FICA (7.65%), federal tax withholding (12%) and state tax withholding (8%) how many hours do you have to work to pay for the new computer.

Answer 2

Hmmmm, this doesn't really seem to be helping me at all.

Answer 3

okay well I am just blowing out options here, but...

you have a savings account (let's call it "x") which has 4.5% interest, so you would have .045..

Now what you also know is you have 10h (h is the number of hrs) and you take away .0765, .12, and .08 from what you get per hr..

Answer 4

So try to plug in numbers using 10h for "h" with what you have above..

Answer 5

Idk if that helps you at all but that's the best way I can explain it..

Answer 6

I'll give it a go. Thank you. I would really like to know how to give medals as well, so I can thank you for your time, MissAlyCatz.

Answer 7

You click "best response" by my username. :)

Let me know how it goes, and I'm sorry that I couldn't explain it better. It was a tough question.

Answer 8

It's very difficult.