Question
Your gross pay is $1,935.00. Your involuntary deductions are FICA (7.65%), federal withholding (13%), and state withholding (9%). How much are you allowed for housing and additional debt payments?
(1 point)
Responses
$541.80
$541.80
$381.16
$381.16
$490.06
$490.06
$696.60
(1 point)
Responses
$541.80
$541.80
$381.16
$381.16
$490.06
$490.06
$696.60
Answers
GPT-4o mini
To find out how much you're allowed for housing and additional debt payments, we first need to calculate your total involuntary deductions and subtract those from your gross pay.
1. **Calculate FICA:**
\[
FICA = 1,935.00 \times 0.0765 = 147.28
\]
2. **Calculate federal withholding:**
\[
Federal\:Withholding = 1,935.00 \times 0.13 = 251.55
\]
3. **Calculate state withholding:**
\[
State\:Withholding = 1,935.00 \times 0.09 = 174.15
\]
4. **Total deductions:**
\[
Total\:Deductions = FICA + Federal\:Withholding + State\:Withholding
\]
\[
Total\:Deductions = 147.28 + 251.55 + 174.15 = 573.98
\]
5. **Net pay after deductions:**
\[
Net\:Pay = Gross\:Pay - Total\:Deductions
\]
\[
Net\:Pay = 1,935.00 - 573.98 = 1,361.02
\]
Now, we want to find the amount allowed for housing and additional debt payments. Given the responses, it's likely that they are relevant percentages or values that can be calculated from the net pay.
Assuming you may want to determine how much is left for these expenses, we can consider a general percentage of the remaining net pay. However, without a specific percentage provided, if we want to focus on the options, it seems we are looking for a direct relation or cushion amount calculated from the deductions or a percentage used typically for housing costs.
Let’s divide the remaining net pay to see which given response matches a direct division, perhaps assuming a ratio typically used (e.g., housing ratio, which is often between 25% to 30%).
To check for percentages:
- 25% of Net Pay:
\[
0.25 \times 1,361.02 = 340.26
\]
- 30% of Net Pay:
\[
0.30 \times 1,361.02 = 408.31
\]
None of these amounts correspond to your choices. Thus, let's carefully reconsider the option choice as rough estimates against remaining net pay.
**Reviewing Options:**
The closest reasonable cut we might adjust mathematically directly from early deductions would suggest correlating with higher recognized amounts after cutting consideration of typical factors. Thus, purely from deduction and options, let's go through:
From $1,361.02 deduction review and choice, the remaining amount would yield around strong suggest trying the largest from ceiling approach against retained weighted qualities suggested at choice.
Looking back again, based on common ratios simplified that show higher:
1. **Step back through each answer given.**
But importantly:
- After stat check result from earlier calculations rifled through, best bet suggests majority save would lean closest ring relative down payment to either.
In deduction on the number possible commonly believed for housing must therefore target around 490 targeted ranges.
The correct answer to your question, assuming standard maintenance metrics and choices, is likely:
**$490.06.**
1. **Calculate FICA:**
\[
FICA = 1,935.00 \times 0.0765 = 147.28
\]
2. **Calculate federal withholding:**
\[
Federal\:Withholding = 1,935.00 \times 0.13 = 251.55
\]
3. **Calculate state withholding:**
\[
State\:Withholding = 1,935.00 \times 0.09 = 174.15
\]
4. **Total deductions:**
\[
Total\:Deductions = FICA + Federal\:Withholding + State\:Withholding
\]
\[
Total\:Deductions = 147.28 + 251.55 + 174.15 = 573.98
\]
5. **Net pay after deductions:**
\[
Net\:Pay = Gross\:Pay - Total\:Deductions
\]
\[
Net\:Pay = 1,935.00 - 573.98 = 1,361.02
\]
Now, we want to find the amount allowed for housing and additional debt payments. Given the responses, it's likely that they are relevant percentages or values that can be calculated from the net pay.
Assuming you may want to determine how much is left for these expenses, we can consider a general percentage of the remaining net pay. However, without a specific percentage provided, if we want to focus on the options, it seems we are looking for a direct relation or cushion amount calculated from the deductions or a percentage used typically for housing costs.
Let’s divide the remaining net pay to see which given response matches a direct division, perhaps assuming a ratio typically used (e.g., housing ratio, which is often between 25% to 30%).
To check for percentages:
- 25% of Net Pay:
\[
0.25 \times 1,361.02 = 340.26
\]
- 30% of Net Pay:
\[
0.30 \times 1,361.02 = 408.31
\]
None of these amounts correspond to your choices. Thus, let's carefully reconsider the option choice as rough estimates against remaining net pay.
**Reviewing Options:**
The closest reasonable cut we might adjust mathematically directly from early deductions would suggest correlating with higher recognized amounts after cutting consideration of typical factors. Thus, purely from deduction and options, let's go through:
From $1,361.02 deduction review and choice, the remaining amount would yield around strong suggest trying the largest from ceiling approach against retained weighted qualities suggested at choice.
Looking back again, based on common ratios simplified that show higher:
1. **Step back through each answer given.**
But importantly:
- After stat check result from earlier calculations rifled through, best bet suggests majority save would lean closest ring relative down payment to either.
In deduction on the number possible commonly believed for housing must therefore target around 490 targeted ranges.
The correct answer to your question, assuming standard maintenance metrics and choices, is likely:
**$490.06.**