Answer:
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
Answer:
$74,000
Explanation:
Disposable income refer to the amount left from the total income of a person after the deduction of all personal taxes. It is given by the formula
Disposable income = Personal Income - Personal taxes
Given that Leah had an earning of $98,000 and her state and federal income taxes totaled $24,000, her disposal income is
= $98,000 - $24,000
= $74,000
The amount paid on necessities such as mortgage, food, and clothing will be deducted from the disposal income.
