Leah had an excellent year as a salesperson in 2017, earning $98,000. She paid $38,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?

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Business

Zain

31 May, 12:21

Leah had an excellent year as a salesperson in 2017, earning $98,000. She paid $38,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?

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Answers (1)

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Lesly Bass · Answer 1

Disposable income = $74,000

Explanation:

Disposable income is the protein of a person's income that is available for saving and spending after income tax has been paid.

Disposable income is used to guage the state of the economy.

Formula for disposable income is

Disposable income = Income - Tax

Disposable income = 98,000 - 24,000

Disposable income = $74,000