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3 years ago

I need help on my assignment this is what i have so far guys let me know if it is wrong or what i should change

Business

1 answer:

Romashka-Z-Leto [24]3 years ago

5 0

Answer:

No ; $625 ; cut down expenses

Explanation:

Annual Gross =$96000

Amount after tax : (1 - 0.3) * 96000 = $67,200

Monthly Total Expenses :

$(700 + 610 + 1200 + 200 + 520 + 275 + 250 + (350*4)) = $5,155

After - tax monthly :

67,200 / 12 = $5600

Amount left :

$5600 - $5155 = $445

If total amout left is saved for 2 years :

Amount saved = ($445 * 24) = $10,680

$10,680 < $15,000 ; therefore, it won't be enough for the purchase.

Monthly saving to earn $15000 in 2 years

2years = 24 months

$15000 / 24

= $625

Grocery expenses , clothing, discretionary cost and cable expenses could be all be cut down in other to increase saving.

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