Answer:
c. 8 months.
Step-by-step explanation:
First off let's get the current total of how much we have saved.
2/3 of $23,000 = 15,333.33.
Now we need to get our total salary to calculate for our Social Security and Medicare.
Total Salary : $1312.00 x 2 = $2,624.00
Social Security : 6.2% or 0.062 x 2,624 = $162.69
Medicare : 1.45 or 0.0145 x 2,624 = $38.05
Now that we have our Social Security and Medicare, we can then solve for our taxes.
Taxes: $53 + $101.35 = 154.35 x 2 = $308.7
Now we can add our monthly expenses to the other expenses.
Monthly Expenses : $1,150.12
1,150.12 + 162.69 + 38.05 + 308.7
= $1659.56 Total Expenses.
Now that we have our total expenses we simply subtract it to our monthly salary.
2624.00-1659.56
= $964.44 Extra Money Monthly
Now we proceed to solve for how much more we need to make the total payment.
23000 - 15,333.33
= 7666.67
Now that we have out total balance, we just need to divide the balance to our extra money monthly.
7666.67 / 964.44
= 7.949 Months or 8 Months
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