You(or your parents) earn$53,698.00/yr and you have deductions of FICA(7.65%), federal tax withholding(11.5%), and state tax wit

Question

koban [17]

3 years ago

7

You(or your parents) earn$53,698.00/yr and you have deductions of FICA(7.65%), federal tax withholding(11.5%), and state tax wit

hholding(9%). How much is this allowed housing expense for the year?

Mathematics

1 answer:

anyanavicka [17] · Answer 1 · 2022-03-02T23:07:50+03:00

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

net income is 38582.01 for the year/12 = 3215.17(rounded) per month
<span>since rent/mortgage should not exceed 25% of income, that is about 800/month </span>