Answer:
c. $1,753.05; yes
Step-by-step explanation:
All calculations below are done on a monthly basis.
Gross salary in 1 month: $1675
Deduct 6.2% from gross salary:
0.062 * $1675 = $103.85
$1675 - $103.85 = $1571.15
Deduct 1.45% from gross salary:
0.0145 * 1675 = $24.29
$1571.15 - $24.29 = $1546.86
Deduct $975.23:
$1546.86 - $975.23 = $571.63
The expenses of $35 and $75.51 are biweekly. Since we are calculating per month, we multiply each of the expenses by 2.
Deduct 2($35) and 2($75.51):
$571.63 - $70 - $151.02 = $350.61
The amount saved per month is $350.61.
In 5 months, the amount saved is 5 * $350.61 = $1753.05
$1753.05 is greater than $1,600.
Answer: c. $1,753.05; yes