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3 votes
Mary earns 150,000 and pays 15?
1) True
2) False

User Ozer
by
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1 Answer

1 vote

Final answer:

Mary Ann's after-tax monthly income is $2,589.10, and her total monthly expenses are $2,145. After expenses, she has $444.10 left, which allows her to save more than 10% of her income, equating to $258.91.

Step-by-step explanation:

Budget for Mary Ann

Mary Ann's monthly after-tax income is $2,589.10. She wishes to save 10% of her income. To determine if she can save this amount, we need to summarize her monthly expenses and subtract this from her income.

Monthly Expenses

  • Rent: $790
  • Cell Phone: $75
  • Utilities: $45
  • Cable TV and Internet: $65
  • Groceries: $450
  • Entertainment: $250
  • Car Payment: $350
  • Gasoline: $120

Total Monthly Expenses

The total monthly expenses equal $2,145. When we subtract this from her after-tax income, we get:

$2,589.10 - $2,145 = $444.10

Can Mary Ann Save 10% of Her Income?

Mary Ann wants to save $258.91 each month (which is 10% of her income). As she has $444.10 remaining after expenses, she can successfully save this amount.

The budget table would confirm that Mary Ann can save the desired 10% of her monthly after-tax income.

User Lua
by
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