Abdul works full-time in a bookstore. He earns a take-home salary of $580 a week. His expenses are $770 a month for rent and utilities, $41 a month for his cell phone, $80 a week for groceries, and $150 every two weeks for miscellaneous expenses. How much can Abdul save each month?
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Abdul works full-time in a bookstore. He earns a take-home salary of $580 a week. His expenses are $770 a month for rent and utilities, $41 a month for his cell phone, $80 a week for groceries, and $150 every two weeks for miscellaneous expenses. How much can Abdul save each month?
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- Henry is a college student currently working 25 hours a week at his part- time job. If Henry gets paid $15 an hour, what is his weekly, monthly, and annual income?Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $970 per month. Her employer deducts $221 for taxes from her monthly pay. Kim also pays $98 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $109 per month. Help Kim make her decision by calculating her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Debt Payments-to-Income Ratio Ratio with college loan Ratio without college loanAlex makes $80,000 per year and pays about 30% of his gross monthly income in federal and state taxes. He wants to rent an apartment and pay no more than 25% of his income for rent. what is the maximum rent he can afford per month?
- Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Madeline is living at home and works in a shoe store, earning a gross income of $1,140 per month. Her employer deducts a total of $260 for taxes from her monthly pay. Madeline also pays $160 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $260 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Debt Payments-to-Income Ratio With college loan % Without college loan %. Pls show steps complete.Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Madeline is living at home and works in a shoe store, earning a gross income of $960 per month. Her employer deducts a total of $170 for taxes from her monthly pay. Madeline also pays $115 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $170 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) With college loan Without college loan Debt Payments-to- Income Ratiomolly has a part time job that pays her a gross income of $135 each week. Her withholding each week is $59.50. She also baby sits. Her saving strategy is to deposit 20 Percent of what she takes home. This week she earned $35 from two baby sitting jobs. How much should she deposit?
- To help Janette cover her college expense, parents provide Janette with a monthly allowance of$340. Besides, Janette earns $600 per month from the part-time job. Janette has to pay $200 in rentexpense and $ 75 per month for her car insurance. Janette plans to spend monthly $80 on clothes,$50 for personal care, and $100 for entertainment. Janette also estimates her monthly eating outexpense at $140, and she expects that $100 will be enough to cover all her other spending. Giventhat Janette follows the above income/spending schedule, how much can she put aside within eightmonths? Assume Janette puts the amount she put aside within eight months on the account thatearns 4.75% per year, compounded annually. What would be the balance of this account in fiveyears? Round your answers to the nearest dollar. Show your work.To help Janette cover her college expense, parents provide Janette with a monthly allowance of $340. Besides, Janette earns $600 per month from the part-time job. Janette has to pay $200 in rent expense and $ 75 per month for her car insurance. Janette plans to spend monthly $80 on clothes, $50 for personal care, and $100 for entertainment. Janette also estimates her monthly eating out expense at $140, and she expects that $100 will be enough to cover all her other spending. Given that Janette follows the above income/spending schedule, how much can she put aside within eight months? Assume Janette puts the amount she put aside within eight months on the account that earns 4.75% per year, compounded annually. What would be the balance of this account in fiveyears? Round your answers to the nearest dollar.Mark makes $82,420 per year and pays about 23% of his gross monthly income in federal and state taxes. He wants to find an apartment to rent. Estimate how much he can afford to pay for rent each month. Then determine how much money he will have after taxes and rent are paid
- Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a childcare centre. Bert has just received the monthly account for the childcare centre totalling $1,625, which he needs to pay immediately. Bert owns a newspaper publishing company. He has paid a membership fee with respect to his personal membership of the World Association of Newspapers, amounting to $3,300, and he has bought a new computer for $2,200 that he keeps in his study at home. Bert has recently purchased a beach house near Geelong. The property has been rented out to Bert’s sister since he purchased it. He took out a 25-year loan to finance the purchase. His interest payments are $7,200 a year. Bert also claims lawn-mowing expenses of $100 per month with respect to his beach house. Required: Advise Bert about the deductibility of the above expenses. Where appropriate, refer to case law and legislation in your answeAccounting Henry makes $13.67/hr. at his job and he normally works 43 hours per week. His expenses each month are $940/month for rent, $529.26/month for utilities, and $410/month for food and clothing. He wants to buy a car, but the payments are $382.74/month. If Henry pays 15% of his income to taxes and insurance, can he afford this new car? Give your answer as the amount of money left after the car payment is added or give a negative number of the money he earns is not enough. Assume a month is 4 weeks. Round to the nearest cent.Monica has a yearly salary of $36,100. Her employer withholds $4320 in state and federal taxes and $3744 in FICA taxes throughout the year. She has the following monthly costs: transportation is $250, cell phone bill is $85, student loans require $260 in repayment, and rent is $500. She is using the average monthly costs for each of the following in order to gain an idea of other monthly expenses: utilities are $150, internet is $105, health insurance is $391, and groceries are $350. What is Monica's monthly net pay amount? Round your answer to the nearest cent, if necessary.
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