You are starting a brand new job with a salary of $70,000. One-third (33%) will go toward

Question:

You are starting a brand new job with a salary of $70,000. One-third (33%) will go toward taxes (state, local, federal and Social Security). Following the 90-10 rule, what is the most you should budget for monthly living expenses?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Personal Finance Building Your Future

ISBN: 978-0073530659

1st edition

Authors: Robert B. Walker, Kristy P. Walker

See More Books

Question Posted: Apr 18, 2018 08:11 AM

See More Questions

You are starting a network design study for a company that wants to reduce costs in its distribution network. Their financial year is the same as the calendar year. Last May, the company changed...
You are starting a network modeling project. When you ask the project manager what the objective of the study is, you get the answer, We want to optimize the entire end-to-end supply chain. Why...
Assume that you are starting a new business. In which type of business activity will you engage first? Identify the order in which the remaining two activities will occur.
A very long insulating cylinder of charge of radius 2.40 cm carries a uniform linear density of 13.0 nC/m. If you put one probe of a voltmeter at the surface, how far from the surface must the other...
Create a Profit and Loss Statement following the income statement format for a fictitious company like one you might want to start. Explain how you generated the main numbers on the profit and loss...
The derivative of a product of two functions is the first function times the derivative of the second function, plus the second function times the derivative of the first. Determine whether each...
Based on Mackenzies experience, what benefits and drawbacks are associated with online car buying?
One of the major reasons why survey research may not be effective is that the survey instruments are less useful than they should be. What would you say are the four possible major faults of survey...
please help me. thank you. ter 8 Quiz G Saved Help Save & Exit Check 2 Down Under Products, Ltd. of Australia has budgeted sales of its popular boomerang for the next four months as follows: April...
Determine the view factors F 12 and F 21 for the very long ducts shown in Fig. P2173 without using any view factor tables or charts. Neglect end effects. Oso 50 (0) (b) -------- (c)
You are a fresh graduate with a new salary of $4,700 a month. You estimate you will be paying about 20% towards taxes. How much should you put in your savings each month?
You currently follow the 90-10 rule. You decide you want to gradually shift to the 80-10-10 rule over the next 20 years, at a steady rate. What percentage of your income will you be budgeting...
Describe four decisions for which ABC information is useful.
(AVR) PR=IAVR=1R = (power dissipated by a resistor) (28.12) R
As a manager and an entrepreneur, you will face a new challenge - business venture structured on the theory of the firm. You are opening a restaurant in your selected town in the State of NY (please...
Install on ubuntu , please provide a screenshot for each step 1)How to install base64 on ubuntu 2)What kind of analysis is performed by Cuckoo? How to install Cuckoo on ubuntu?
rt a letter to Rose McBride. Writing Plan - Refusal to a Request Rubric Buffer: Start with a neutral statement on which both reader and writer can agree, such as a compliment, appreciation, a quick...
FACTS: The Budvar Company sells parts to a foreign customer on December 1, Year 1, with payment of 20,000 crowns to be received on March 1, Year 2. Budvar enters into a forward contract (with a...
Ramos and Bailey have a frozen yogurt shop in Victoria, BC. They are equal partners, with $30,000 in each of their partnership capital accounts. Baileys sister Kate is admitted to the partnership on...
Tanaka Company's cost and production data for two recent months included the following: March April Production (units).........300................600 Rent.....................$1,800............$1,800...
What is buying a stock on margin? What may happen if the value of the stock bought on margin declines? What are the advantages to investors and brokerage firms when stocks are bought on margin?
When an investor sells a bond in the secondary market before the bond reaches maturity, what determines the return on the bond? How do interest rate movements affect bond returns in general?
Discuss the effect of taxes on bond returns.
Physical Units Method, Relative Sales Value Method Farleigh Petroleum, Inc., is a small company that acquires high - grade crude oil from low - volume production wells owned by individuals and small...
A proposed $2.5 M investment in new equipment at a 100 MG/y M&Ms factory will save the plant $800,000/y in energy costs. Assuming an annual interest rate of 5%/y (compounded annually), and an...
Brief Exercise 10-7 Coronado Company obtained land by issuing 2,250 shares of its $14 par value common stock. The land was recently appraised at $103,240. The common stock is actively traded at $44...

You are starting a brand new job with a salary of $70,000. One-third (33%) will go toward

Question:

Step by Step Answer:

Annual takehome pay 70000 ...View the full answer

Personal Finance Building Your Future

Students also viewed these Business questions