Solve the Problem. -Suppose Your After-Tax Income Is $37,050. Your Annual Expenses Are

Multiple Choice

Solve the problem.
-Suppose your after-tax income is $37,050. Your annual expenses are $32,426 for rent, $6572 for food and household expenses, $1265 for interest on credit cards, and $7396 for entertainment, travel, and
Other. You expect to get a 25% raise next year. Will this affect the outcome?

A) No, a raise would still create a deficit.
B) Yes, a raise would create a surplus.