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Real-Life Activities

Real-Life Math -- Solution

Gas and insurance(1,015 + 850) x 0.5 = $932.50
Food$367
Plays$75
Cable450 x 0.4 = $180
Clothing$188
Workshops$250
Portion of rent$1,300
Basic personal amount$13,850
Total deductions$17,142.50
Total income$39,640.00
Subtract deductions($17,142.50)
Taxable income$22,497.50

Tax = $22,497.50 x 0.12
Tax = $2,699.70

So what did you earn after taxes?

Net earnings = $39,640 - $2,699.70
Net earnings = $36,940.30