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We have made assumptions about work income in year 1 ($80,000) and unemployed income ($15,000). Unemployed income is the amount of income you receive if
We have made assumptions about work income in year 1 ($80,000) and unemployed income ($15,000). Unemployed income is the amount of income you receive if you are unemployed. All values are after tax has been paid. We have also made assumptions about living expenses in year 1 ($25,000). Suppose the person was employed in year 1, how much residual income do they have? (Report to the nearest whole number and include appropriate units) Note: Residual income is income minus living expenses. It is the funds that could potentially be used to pay the mortgage
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