Question

Mr. Turner employer pays 100% of his medical insurance. He has rent of $800 and $600 for car payment, $100 light bill, and $300 car insurance. His payroll and income taxes are estimated to be $287.What is his necessary monthly salary to have a gross income to meet his total expenses including the payroll and income taxes? The monthly salary is

Answer 1

Given :

Mr. Turner employer pays 100% of his medical insurance. He has rent of $800 and $600 for car payment, $100 light bill, and $300 car insurance. His payroll and income taxes are estimated to be $287.

To Find :

What is his necessary monthly salary to have a gross income to meet his total expenses including the payroll and income taxes.

Solution :

Minimum salary to bear all expenses is :

S = Basic expenses + Payroll and taxes

S = $( 800 + 600 + 100 + 300 + 287)

S = $2087.00

Therefore, monthly salary is $2087.00 .

Hence, this is the required solution.