financial algebra assignment\ntopic: personal finance & budgeting with algebra\npart 1 - income & taxes\n1…

financial algebra assignment\ntopic: personal finance & budgeting with algebra\npart 1 - income & taxes\n1. you are offered a part - time job that pays $14.50 per hour. you work 22 hours per week.\n a. write an equation to represent your weekly income based on hours worked (h).\n b. calculate your weekly income.\n c. if about 18% of your paycheck goes toward taxes, how much money do you actually take home each week?\npart 2 - monthly budget\n2. create a monthly budget based on your take - home pay. assume you work every week in a month (4 weeks).\n a. calculate your total monthly income.\n b. allocate your income using the following percentages:\n housing (30%)\n transportation (15%)\n food (20%)\n savings (10%)

financial algebra assignment\ntopic: personal finance & budgeting with algebra\npart 1 - income & taxes\n1. you are offered a part - time job that pays $14.50 per hour. you work 22 hours per week.\n a. write an equation to represent your weekly income based on hours worked (h).\n b. calculate your weekly income.\n c. if about 18% of your paycheck goes toward taxes, how much money do you actually take home each week?\npart 2 - monthly budget\n2. create a monthly budget based on your take - home pay. assume you work every week in a month (4 weeks).\n a. calculate your total monthly income.\n b. allocate your income using the following percentages:\n housing (30%)\n transportation (15%)\n food (20%)\n savings (10%)

Answer

Explanation:

Step1: Ecuación de ingreso semanal

Sea $I$ el ingreso semanal y $h$ las horas trabajadas. El salario por hora es de $14.50$ dólares. Entonces, $I = 14.5h$.

Step2: Cálculo de ingreso semanal

Dado que $h = 22$ horas, sustituimos en la ecuación: $I=14.5\times22 = 319$ dólares.

Step3: Cálculo de ingreso neto semanal

El 18% de $319$ se va en impuestos. El porcentaje de ingreso neto es $(100 - 18)%=82%$ o $0.82$ en decimal. Entonces, el ingreso neto semanal es $0.82\times319 = 261.58$ dólares.

Step4: Cálculo de ingreso mensual

Como hay 4 semanas en un mes y el ingreso neto semanal es de $261.58$ dólares, el ingreso mensual es $261.58\times4 = 1046.32$ dólares.

Step5: Asignación de ingreso mensual

  • Housing (30%): $0.3\times1046.32 = 313.896\approx313.90$ dólares.
  • Transportation (15%): $0.15\times1046.32 = 156.948\approx156.95$ dólares.
  • Food (20%): $0.2\times1046.32 = 209.264\approx209.26$ dólares.
  • Savings (10%): $0.1\times1046.32 = 104.632\approx104.63$ dólares.

Answer:

a. $I = 14.5h$ b. $319$ dólares c. $261.58$ dólares 2. a. $1046.32$ dólares b.

  • Housing: $313.90$ dólares
  • Transportation: $156.95$ dólares
  • Food: $209.26$ dólares
  • Savings: $104.63$ dólares