Homework Answers
Personal disposable income is the income which is left for consumption and saving after deducting all types of direct taxes and fines and penalties to government.
It can be calculated as:
Personal Disposable Income= Personal income - Direct taxes
We have, Personal income= $44,542 and tax rate of 18%
Personal disposable income= 44,542 - 18% 0f 44,542
= $44,542 - 8,017.56
= $36,524.44
Now, we have another formula for Personal Disposable Income:
Personal Disposable Income= Household consumption + Household saving
Given is the rate of saving, which is, 10% of disposable income.
So, the savings will be 10% of $36,524.44= $3,652.44
Income left for the consumption spending= Personal disposable income - Savings
= $36,524.44 - $3,652.44
= $32,872
So, the answer is $32,872.
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