Question

In May, Jonathon earns 5957. Elise, his wife, earns 4875.

Withholding taxes are 20% of their income, and they contribute 12% of their gross income to their church and charities. They budget $150 per month for health insurance and $50 per month for car insurance. Jonathon and Elise also expect the following monthly expenses: rent $550, utilities $105, gasoline $75, repairs $600 (per year), food $150, clothing $75, and entertainment $150. They plan to save 269 in May.

How much surplus will they have in their budget in May?

Express your answer without a dollar sign and in the following format: nnnn.nn

Answer 1

A)Earnings

Jonathon--------5957.00

Elise--------------4875.00

B)Total Earnings 10,832.00

Expenses

Withholding taxes ------- 2,166.40

Church & Charities -------- 1,299.84

Health Insurance ---------- 150.00

Car Insurance ---------- 50.00

Rent ------------ 550.00

Utilities ----------- 105.00

Gasoline ---------- 75.00

Repairs (600/12) --------- 50.00

Food ---------- 150.00

Clothing ---------- 75.00

Entertainment --------- 150.00

Planned Savings ----------- 269.00

C) Total Expenses including

Planned Savings --------- 5090.24

D) Surplus ( B-C) ----5741.76