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Interpreter for the Deaf

Real-Life Activities

Real-Life Math -- Solution

Start by figuring out your income.

You will work 50 weeks (52 weeks a year - 2 weeks vacation)
40 hours x 50 weeks = 2,000 hours
2,000 hours x $16 per hour = $32,000

Now figure the taxes.

$32,000 x 0.15 = $4,800
$32,000 x 0.075 = $2,400
$32,000 x 0.055 = $1,760

Now calculate the grand total.

$4,800 + $2,400 + $1,760 = $8,960

You need to plan on having $8,960 on hand to pay all those taxes. (It can be expensive to be self-employed!)


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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.