Question

You are planning a trip to Disney World in Florida. You estimate for week at Disney World, you will need $1,600.00 (This includes Airfare, room and board, daily expenses, and travel). You save for 5 months and your monthly gross salary is $1,675.00. Given that Social Security is 6.2% of your biweekly income, Medicare is 1.45% of your biweekly income, your monthly expenses are $975.23, and you pay State and Federal taxes in the amount of $35.00 and $75.51 respectively biweekly, how much will you have saved up and will you have saved enough to visit Disney World in December? Round all your answers to the nearest cent.