You plan on purchasing a car in the next year. the car that you are interested in lists for $23,000 after taxes, license, and doc fees. you currently have two-thirds of the vehicles value saved and you get paid $1,312.00 twice a month. given that monthly expenses total $1,150.12, social security is 6.2% of your income, medicare is 1.45% of your income, and you pay state and federal taxes in the amount of $53.00 and $101.35, respectively, twice a month, determine in how many months you will have to save for so that you can purchase the car without financing?
a. $108.50 b. $110.25 c. $100.32 d. $105.80

answer:

if you have 2/3 of the vehicle value saved up you have 15333.33 saved up and you have to pay

if you get paid twice a month of 1312 your monthly income is $2624.

social security = 2624 * 0.062 or $162.688

medicare = 2624 * 0.0145 or $38.048

taxes = 2(53 + 101.35) or $308.7

bills = 162.688 + 38.048 + 308.7 or $509.436

income at end of month = 2624 - 509.436 or $2114.564

7590/2114.564 = 3.58 months or 4 months

step-by-step explanation:

hey! so 1 (25) out of 4 (100) is 25 so your answer is 25%. it's like quarters!

make sure you have version 2.50

try looking in the very back of the book : )

step-by-step explanation:

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