Congratulations! You just finished up your MHA. You are now making the big bucks! You are pulling down $75,000 a year. Your estimated payroll taxes are 20%. You also have a small healthcare consultancy and you make $100 a month for your wonderful advice. You have a lot of expenses: You bought a new car - the car note is $350 a month. Gas for your car is $50 a month You have a mortgage of $850. Health insurance is $400 You love to eat out and you spent $300 a month in food. You have a student loan payment of $300 You have a credit card monthly statement of $1,100 How much do you have left at the end of this month?

Question

Tiana Baird

Business

10 February, 05:34

Congratulations! You just finished up your MHA. You are now making the big bucks! You are pulling down $75,000 a year. Your estimated payroll taxes are 20%. You also have a small healthcare consultancy and you make $100 a month for your wonderful advice. You have a lot of expenses: You bought a new car - the car note is $350 a month. Gas for your car is $50 a month You have a mortgage of $850. Health insurance is $400 You love to eat out and you spent $300 a month in food. You have a student loan payment of $300 You have a credit card monthly statement of $1,100 How much do you have left at the end of this month?

+2

Answers (1)

Know the Answer?

Johan Gentry · Answer 1

Balance available on hand at month-end is $1,750

Explanation:

Monthly gross salary = $6,250 ($75,000 / 12 month)

Less: Payroll Taxes $1,250 ($6,250 * 20%)

Net Monthly salary $5,000

Add: Monthly Consultancy Income $100

Monthly income available on hand $5,150 $5,150

Less: Monthly Car note $350

Monthly Car gas $50

Monthly mortgage $850

Monthly Health insurance $400

Monthly food spending $300

Monthly student loan payment $300

Monthly credit card payable $1,100

Total deductions $3,350 $3,350

Balance available on hand at month-end $1,750