Question

budgeting and income
take another look at this chart.
if you were planning a budget, which amount would
you use to record your income?
$16.00
$22.50
$67.50
$90.00

	withholdings	income
federal tax	$16.00
state tax	$3.00
local tax	$2.50
total deductions	$22.50
net income		$67.50

Explanation:

When planning a budget, the income used is the net income, which is the amount received after deductions. The gross income is $90.00, but total deductions are $22.50. Net income = Gross income - Total deductions = $90 - $22.50 = $67.50. This is the actual income available for budgeting.

Answer:

$67.50