Question

You are an IT Technician who earns 64.843 per year. You get paid every other Friday You are single and very active on the dating scene. You live alone, and your monthly rent is 980 a month. Your power bill averages 5218 a month, cable and internet 174 a month, water 32 a month and your cell phone billis 117 a month. You drive a relatively new automobile and it cost you 402 a month to do so. Insurance for your car runs you 294 a month. Gas for this vehicle runs you approximately 52 per week. You have 3 credit cards whose minimum monthly payments are 57. 544. and 39. You also pay the federal government 5261 a month for your IT Technician bachelor's degree. You pay taxes at a rate of 16.2% om your income, and your healthcare benefits medical vision and dental cost you 247 per month life Insurance is 63 a month

How much money do you have left over each month after paying all of your expenses?

a) 1,200
b) 1,500
c) 1,800
d) 2,000

Answer 1

After calculating the IT Technician's after-tax income and subtracting all monthly expenses, there appears to be a large deficit.

Step-by-step explanation:

The question involves calculating the amount of money left over after an IT Technician with an annual salary of $64,843 has paid all of their monthly expenses. To determine this, one must first calculate the monthly after-tax income, which is the annual income minus taxes divided by 12. Then, subtract all the monthly expenses from that amount. Let's break it down step by step:

1. Calculate the monthly income before taxes: $64,843 ÷ 12 = $5,403.58.
2. Calculate the amount of taxes per month: $5,403.58 * 0.162 = $875.38.
3. Subtract the taxes from the monthly income to get the after-tax income: $5,403.58 - $875.38 = $4,528.20.
4. Total monthly expenses (sum of rent, power bill, cable/internet, water, cell phone, car payment, car insurance, gas per month, credit card payments, student loan payment, healthcare benefits, life insurance): $980 + $5218 + $174 + $32 + $117 + $402 + $294 + ($52 * 4) + $57 + $544 + $39 + $5261 + $247 + $63 = $14,184.
5. Subtract the total monthly expenses from the after-tax income: $4,528.20 - $14,184 = - $9,655.80.

However, given the unrealistic figure for the power bill and the student loan payment, it appears there are errors in this particular set of expenses. Presuming that these values were mistakenly provided and aren't accurate representations of the IT Technician's actual bills, the calculation cannot be completed accurately. Therefore, the remaining monthly money cannot be precisely determined and the options provided (a, b, c, d) are not applicable here.