Analyzing Components of a Budget.docx - Analyzing...

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Analyzing Components of a Budgeta) As a student, you are able to earn extra money by assisting your neighbors with odd jobs. Ifyou charged $10.25 an hour for your assistance, how many hours would you need to work toearn $8,425?
b) Imagine that you earned $8,425 in one year. If the government enforces a 15% income tax,how much money would you owe in taxes at the end of the year?
c) Your parents have been advised to save 5% of their income for your college education,which would include money for housing, tuition, books, and fees. How much would your parentshave saved in one year, following the recommended 5%, if they had an average householdincome of $48,948?

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Term
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Household income in the United States

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