Question

Gina is a single woman who lives by herself and is a district manager for a chain of home improvement stores. She earns an annual salary of $55, 000. However, she pays $1,040 a month for federal income taxes, $475 a month for Social Security, and $200 a month for Medicare. Gina also has several fixed expenses. She drives a 2003 vehicle her payment is $466 per month. She pays $117 per month for car insurance. Her rent is $985 per month, her health insurance is $95 per month. She puts $200 a month in her savings account. Gina also has variable expenses which is food $249 a month, $145 a month for gas for her car and $260 a month for entertainment.

What is Gina's gross annual income?


$23, 300


$55, 000


$23, 000


$36, 500

Answer 1

$55,000

Gross annual income is her salary before deductions, which is $55,000.