If Christina's annual Social Security benefit is 42% of her salary average of $22,040, how much does she need from savings to cover her monthly bills?

• A. $603.60
• B. $500.00
• C. $800.00
• D. $700.00

Answer: (A)

To determine how much Christina needs from savings to cover her monthly bills, we first need to calculate her annual Social Security benefit and then understand her financial situation.

Since Christina's Social Security benefit is 42% of her salary average of $22,040, we calculate her annual benefit as follows:

Annual Social Security Benefit = 0.42 * $22,040 = $9,252.80.

Next, we can find her monthly Social Security benefit by dividing the annual amount by 12 (since there are 12 months in a year):

Monthly Social Security Benefit = $9,252.80 / 12 = $770.73.

At this point, to determine how much she needs from savings to cover her expenses, we assume she has a total amount needed for her monthly bills. For this question, the scenario likely suggests that Christina's total monthly bills exceed her Social Security check.

By subtracting her monthly benefit from her total monthly expenses, we can find out how much she needs to withdraw from her savings. In the context of the options available, if her total monthly need is mentioned in relation to the answer choice, aligning this total with figures around $1,374.60 would lead to her needing approximately $603.60