posted by megan
For questions 3 and 4, you will be answering by filling in the blank. Please be aware that your answer must include
any commas or decimals in their proper places in order to be correct. The dollar signs have been provided. For
example, if the answer is $1,860.78, then you will enter into the blank 1,860.78. Do not place any extra spaces
between numbers, commas, or decimal places. Round any decimals to the nearest penny when the answer involves
money—$986.526 would be typed into the blank as 986.53 and $5,698.903 would be typed into the blank as
3. You (or your parents) are paid $13.75/hr and your deductions are FICA (7.65%), federal tax
withholding (10%), and state tax withholding (7.5%). Your (or your parents’) rent is
$875.00/month. How many hours must be worked to pay the rent each month? Round up to the
nearest whole number to make sure you have earned enough money to pay the rent.
hours 63 <--- my answer
4. Your rent is $750.00/month. What should your minimum realized income be?
$125.00 <--- my answer