Question

A college student earns $15,000 working part time at a bookstore. The student pays off the earnings in taxes, spends of the earnings on living expenses, and saves the remainder of
How does the student save?
1,500
6,000
7,500
10,500

Answer 1

The amount she will have left is $10,500

How to calculate tax and earning

Given the foliwng paramters

Total amount earned by the student = $15000

Assume we have the following parameters

Earning paid off in taxes = $1500
Amount spent on living expenses = $3000

Amount she will have left = 15000 - (1500 + 3000)

Amount she will have left = 15,000 - 4500
Amount she will have left = 10,500

Hence the amount she will have left is $10,500

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