Problema Solution
The Sinclairs have been advised to allow 7.5% of their budget for federal taxes. How much should they set aside per month if their monthly income is $2,519?
Answer provided by our tutors
The Sinclairs would need to put aside $188.93 to allow for their federal taxes. If their income is $2,519 and they need to set aside 7.5%, this will satisfy their need.