8.1 Income and Expenses

Front

What is the formula to calculate the percentage of income spent on rent?

Back

Percentage of Rent = (Rent Amount / Total Income) x 100

Front

If you earn $2,400 per month and spend $800 on rent, what percentage of your income do you spend on rent?

Back

33.33% of your income

Front

How do you calculate annual income from monthly income?

Back

Annual Income = Monthly Income x 12

Front

If Jon makes $4,600 a month, how much does he make in a year?

Back

$55,200

Front

What is a biweekly paycheck?

Back

A biweekly paycheck is the amount earned every two weeks.

Front

If you earn $500 per week, how much do you earn in two weeks?

Back

$1,000

Front

What is the formula to calculate savings time?

Back

Time to Save = Total Savings Goal / Amount Saved Per Week

Front

If you want to save $1,000 and save $50 per week, how many weeks will it take?

Back

20 weeks

Front

How do you calculate weekly earnings from hourly wage?

Back

Weekly Earnings = Hourly Wage x Hours Worked Per Week

Front

If you earn $14 per hour and work 6 hours a day for 5 days, how much do you earn in a week?

Back

$420