Gross income: $4,520.00/ mo
FICA deduction: $345.78 (4,520 x .0765)
FTW deduction: $531.1 (4,520 x .1175)
STW Deduction: $348.2 (4,520 x .085)
<u>REALIZED INCOME</u>: $3,258.92
Fixed income: $977.76 ( $3,258.92 x .3)
5 months fixed income: $4,888.38
CD savings Account balance: $3,666.28 ( $4,888.38 x .75)
Regular savings account balance: $1,222.1 ($4,888.38 - $3,666.28)
Formula:<em> $ x APR% x time </em>
Everything must be in decimal form. For this case we are looking at 60/365 days of the year, which the last parenthesis represent.
CD = ( $3,666.28)(.0525)(.164384) = $31.64
RSA = ( $1222.1)(.038)(.164384) = $7.63
<h2>
<u>$31.64 + $7.63 = $39.27</u></h2>
