Question

Freddy works 40 hours per week as a cosmetologist. After paying his 25% in taxes, what is the

most Freddy can afford for his living expenses per month?

Answer 1

Freddy can afford up to his after-tax monthly income for living expenses. To calculate this, subtract 25% from his income for taxes. The example calculation uses a hypothetical $3,200 monthly income, resulting in $2,400 available for living expenses.

Step-by-step explanation:

The question is asking about how to calculate Freddy's maximum living expenses per month after he pays taxes. This involves understanding income and budgeting, which is a practical application of mathematics. Freddy works 40 hours a week as a cosmetologist but the question does not specify his hourly wage or exact monthly income. To determine how much he can afford for living expenses after taxes, we would subtract 25% from his total income to account for the tax reduction. Then, we could establish a budget for the month.

To illustrate using the provided example, let's pretend Freddy earns $3,200 a month before taxes. We first calculate the after-tax income:

• Subtract 25% for taxes: $3,200 - (25/100) * $3,200 = $3,200 - $800 = $2,400.
• Freddy's after-tax monthly income is $2,400.

Now, Freddy's living expenses must be budgeted within this $2,400. Without knowing his specific monthly obligations such as rent and utilities, we cannot pinpoint the exact amount he can afford. However, we can say that the maximum Freddy can afford for living expenses will be equal to or less than his after-tax monthly income of $2,400.

Answer 2

To determine how much Freddy can afford for monthly living expenses after taxes, we would need to know his gross weekly income. An example based on a hypothetical $1,000 per week before taxes shows a net monthly income of $3,000 after a 25% tax deduction.

Step-by-step explanation:

To calculate the most Freddy can afford for his living expenses per month after paying 25% in taxes, we need to start with his gross weekly income and then adjust for taxes and monthly earnings. Unfortunately, the question doesn't state Freddy's gross pay. However, we'll use an example where Freddy earns $1,000 per week (before taxes) to illustrate the process.

Freddy's weekly gross income: $1,000

Taxes (25%): $1,000 * 0.25 = $250

Net weekly income (after taxes): $1,000 - $250 = $750

Monthly income: $750 * 4 = $3,000 (approximating 4 weeks per month)

The monthly income is the ceiling for Freddy's expenses, given that approximately 4 weeks are in a month, he must live within this budget. However, Freddy will likely have other expenses and savings goals to consider, and his actual amount available for living expenses may be less than the total monthly income after taxes.