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15 October, 00:05

Market researchers often report disposable income. This is your income after tax deductions. Your gross income is $3,000 per month. Your federal tax is 10%, state tax is 5%, city tax is 2%, and you pay 7% to social security. What is your monthly disposable income?

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Answers (2)
  1. 15 October, 00:16
    0
    To solve this problem, take your gross income of $3,000 and multiply it by each percentage rate that you pay from it. Once that's done, you can subtract all of the amounts and receive the disposable income.

    ($3,000) (.10) = $300

    ($3,000) (.05) = $150

    ($3,000) (.02) = $60

    ($3,000) (.07) = $210

    Add these numbers:

    ($300 + $150 + $60 + $210) = $710

    Then take $710 and subtract from $3,000:

    $3,000 - $710 = $2,280
  2. 15 October, 00:31
    0
    Income=gross income-deductions.

    Let's make your income Y.

    Y=3000 - (3000x (.1+.5+.2+.7)

    Y=3000 - (3000 (.15))

    Y=3000 - (450)

    Y=2550.

    Your total disposable income is $2,550.
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