Question

Wellington never paid attention in school when teachers taught math and he never truly understood how to manage his money. He is now an adult and does not have any real skills so lets find out what happened to his money. He made $2400 dollars but after federal and state taxes, social security, and health insurance there are $550 that are automatically taken out. Then he must pay his rent which is $1,000. Then he must pay his car note and insurance which come up to $700. He has to divide the remaining total up equally and make it last for 15 days. How much will he have to spend on each of those 15 days?

Answer 1

$10

Explanation:

Total amount earned = $2400

Less: federal and state taxes, social security, and health insurance = $550

Balance = $2400 - $550

=$1,850

Less : Rent = $1,000

Balance = $1,850 - $1,000

= $850

Less: insurance = $700

Balance = $850 - $700

= $150

He has to divide the remaining total up equally and make it last for 15 days

Amount to spend per day = $150 / 15 days

= $10 per day