Asked by bob

For questions 3–4, you will be answering by filling in the blanks.

Round to the nearest penny.

You have a part-time job that pays $4.75/hr with tips averaging $4.50/hr. Your deductions are FICA (7.65%), federal tax withholding (12.5%), and state tax withholding (6.85%). You work 20 hours per week.
You want to save $40.00/wk, how much is left of your discretionary income per week? Assume that all of the income from your part-time job is discretionary.

$
95.05
/wk

You decide to save 15% of your realized income. How much do you save per month?

$
/month

All Answers 1

Answered by GPT-5 mini AI
Realized weekly income = (4.75 + 4.50)·20 = $185.00·(1 − 0.27) = $135.05/wk.

Monthly realized income ≈ $135.05·4 = $540.20.

Savings = 15%·$540.20 = $81.03/month.