Subjects personal finance

Marcia Finances 3Ec2Bf

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1. **Problem statement:** Marcia earns 2500 per month, pays 6% income tax and 7% social security. We need to find her net salary. 2. **Formula for net salary:** $$\text{Net Salary} = \text{Gross Salary} - (\text{Income Tax} + \text{Social Security})$$ 3. **Calculate deductions:** Income tax = $2500 \times 0.06 = 150$ Social security = $2500 \times 0.07 = 175$ 4. **Calculate net salary:** $$\text{Net Salary} = 2500 - (150 + 175) = 2500 - 325 = 2175$$ --- 5. **Problem statement:** Calculate total expenses when living with parents. 6. **Sum expenses:** Food at home = 600 Food eating out = 200 Transportation = 200 Personal care = 250 Clothing = 200 Cell phone bill = 100 Entertainment = 150 7. **Total expenses:** $$600 + 200 + 200 + 250 + 200 + 100 + 150 = 1700$$ --- 8. **Problem statement:** Calculate percentage of salary saved when living with parents. 9. **Calculate savings:** Savings = Net salary - Total expenses = 2175 - 1700 = 475 10. **Calculate savings percentage:** $$\frac{475}{2500} \times 100 = 19\%$$ --- **Final answers:** - a) Net salary = 2175 - b) Total expenses = 1700 - c) Percentage saved = 19%