Rob Retiree gets a Social Security benefit of $800 per month. His wife receives a benefit equal to 50 percent of Rob's benefit. If they take an additional $300 per month from savings, what will their monthly income be?

A1,100

B.1,500

C1,600

D1,900

We have been given that Rob Retiree gets a Social Security benefit of $800 per month. His wife receives a benefit equal to 50 percent of Rob's benefit.

Let us find out amount of benefit received by Rob's wife by finding 50% of $800.

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As they take an additional $300 per month from savings, so to find their monthly income we will add Rob and his wife's benefits to monthly savings.

$\text{Total monthly income}=\$800+\$400+\$300$

$\text{Total monthly income}=\$1500$

Therefore, their total monthly income is $1500 and option B is the correct choice.

Rob Retiree gets a Social Security benefit of $800 per month. His wife receives a benefit equal to 50 percent of Rob's benefit. If they take an additional $300 per month from savings, what will their monthly income be? A1,100 B.1,500 C1,600D1,900

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Related Questions

Rob Retiree gets a Social Security benefit of $800 per month. His wife receives a benefit equal to 50 percent of Rob's benefit. If they take an additional $300 per month from savings, what will their monthly income be?

A1,100

B.1,500

C1,600

D1,900