Budgeting and Being a Smart Consumer Answers

Georgia’s gross pay was $35,600 this year. She is to pay a federal income tax of 16%. How much should Georgia pay in federal income tax this year? Round to the nearest dollar.

Last year, Nevan’s gross pay was $45,150. The federal income tax percent that was withheld from his gross pay was 16%. The amount of money that Nevan actually owes the government after deductions is $6,150. Which of the following is true?

The Chambers family has a net monthly income of $6,500.If the family decides to reduce its clothing budget by $200 a month, how much will the new clothing budget be? Round to the nearest dollar.

The Sullivan family made a bar chart to compare how much they spend on different costs each month.. Sullivan Family Monthly BudgetIf the family’s net monthly income is $7,800, what percent of the income is spent on food, clothing, and housing?

How much more did Briana save by purchasing a backpack that cost $45 with a sales promotion of 20% off instead of a backpack that cost $42 with a sales promotion of 10% off?

Hillary’s family is thinking of relocating to a different city to save money. They set up a budget comparing the cost of living in four cities. OaklandPhoenixSanta FeSan DiegoItemCostCostCostCostHousing$565$465$505$1200Food$545$495$475$655Health Care$245$215$200$495Taxes$450$415$385$625Other Necessities$350$305$295$495Monthly Total$2155$1895$1860$3470Based on cost of living alone, which city should they choose to live in?

The Hernandez family budget is shown in the graph. Which 3 categories make up more than half of the Hernandez family budget? Select two choices..

Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.DeductionDollar AmountFederal Income Tax$420State Income Tax$95Social Security$89Medicare$40 What will be his new monthly net pay? Round your answer to the nearest dollar.

Ramya’s mom was hired for a new job with a yearly income of $84,000. The total of all deductions from her paycheck will be 25% of the gross pay. She asked Ramya to compute her net monthly income. What is Ramya’s mother’s net monthly income?

Quintina decided to increase the deduction percentage of her federal income tax rate from 14% to 16%. Quintina’s gross pay per month is $2,100. Her deductions before the change are listed in the table. DeductionDollar AmountFederal Income Tax$294State Income Tax$89Social Security $85Medicare$35 What is her new monthly net pay? Round your answer to the nearest dollar.