Calculating Income

Gross and Net Income

100

You earn a gross income of $6,700 per month. 28% of your gross income withheld as deductions. How much money was withheld?

$1,876

Solution: 6,700 x 28%

200

Your gross monthly income is $5,540. Your net income is $4,130. How much money was withheld for deductions?

$1,410

Solution: 5,540 - $4,130

300

Your monthly gross income is $7,350. 

$1,837.50 is withheld each month for deductions. 

Find your monthly net income. Then, what is your ANNUAL net income?

Monthly-$5,512.50

Annual-$66,150

Solution:  7,350 - 1,837.50 = $5,512.50.   Then,

            $5,512.50 x 12

400

Your monthly gross income is $7,120. 25% is withheld for deductions. What is Your net income?

$5,340

Solution:  $7,120 - 25%

Weekly Income

100

Your bi-weekly income is $2,640. What is your weekly income?

$1,320

Solution: 2,640 / 2

200

Your weekly income is $1,211. What is your annual income?

$62,972

Solution: 1,211 x 52 =62,972

300

Your weekly net income is $1,585. You spends 70% of that on NEEDS. How much do you have left to spend on budgeting WANTS?

475.50

Solution: 1,585 - 70% =

400

Your weekly income is $780. Find your annual income. Then...what is your monthly income?

Monthly-$3,380

Annual-$40,520

Solution: 780 x 52 = 40,520 (Annual)

            40,520 / 12 = monthly income

Monthly Income

100

Your annual income is $72,000. What is your monthly income?

                            

$6,000

Solution: 72,000 / 12

200

You earn an annual income of $46,355. What is your monthly income?

$3,862.92

Solution: 46,355 / 12 = 3,862.916666 rounded up!

300

Your weekly income is $889. Find your annual income. Then, what's your monthly income?

$3,852

Solution: 889 x 52 =.  Then, divide by 12

400

Your monthly income is $4,000. You spend $1,500 on rent. What percent of her income is spent on rent?

37.5%

Solution:  1,500 / 4,000 x 100 

Annual Income

100

You earn a monthly income of $3,482. What is your annual income?

$41,784

Solution: 3,482 x 12 = 

200

You earn an annual income of $68,977. What is your monthly income?

$5,748.08

Solution: 68,977 / 12 = $5,758.0833 rounded

300

You get paid bi-weekly. How many paychecks will you receive for 1 year?

26

Solution: 52 / 2 

400

You earn an annual gross income of $80,000. You spend $67,000 on needs and wants. You put HALF of the leftover money in savings. How much money do you put in savings each year?

$13,000

Solution: 80,000 - 67,000 = 13,000. Then divide by 2