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Ap econ project los angeles, ca

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  • 1. Los angeles, Ca
    Sayaka Yoshikawa and Vivian Lu
  • 2. Location
    Los Angeles, CA
  • 3. Background Information
    Sayaka Yoshikawa
    • Occupation: Flight Attendant
    • 4. Initial Income: $45,000
    • 5. FICA: $2,542.50
    • 6. Social Security: 4.2%
    • 7. Medicare: 1.45%
    • 8. Post-Tax: $37,562
    • 9. Total Net Income: $35,019.50
    Vivian Lu
    Occupation: Pilot
    Initial Income: $45,000
    FICA: $2,542.50
    • Social Security: 4.2%
    • 10. Medicare: 1.45%
    Post-Tax: $37,562
    Total Net Income: $35,019.50
  • 11. Basic Supplies
    Sayaka Yoshikawa
    • Food: $7,000
    • 12. Household Furniture: $1,755
    • 13. Household Supplies: $500
    • 14. Computer: $999
    Total: $10,254Remaining Income:$24,765.5
    Vivian Lu
    Food: $7,000
    Household Furniture: $1,755
    Household Supplies: $500
    Computer: $999
    Total: $10,254Remaining Income:$24,765.5
  • 15. Extracurricular Activities
    Vivian Lu
    Clothes: $400 + $100 (pilot uniform repair)
    Gym Membership: $0 (we ride bicycle and run every morning)
    Movies: $32 (Costco discount tickets)
    Travel, Vacation: $0 (we travel all the time for profession)
    Books: $100
    Total: $632Remaining Income: $24,133.5
    Sayaka Yoshikawa
    • Clothes: $400 + $100 (flight attendant uniform repair)
    • 16. Gym Membership: $0 (we ride bicycle and run every morning)
    • 17. Movies: $32 (Costco discount tickets)
    • 18. Travel, Vacation: $0 (we travel all the time for profession)
    • 19. Books: $50
    Total: $582Remaining Income: $24,183.5
  • 20. Healthcare
    Vivian Lu
    Vital Shield 900
    $1308 annually + $900 deductible = $2208 annually
    $109 monthly per person
    $900 deductible annually
    40% of coinsurance for in work services
    individual coverage
    Total: $2208
    Remaining Income: $21,925.5
    Sayaka Yoshikawa
    • ClearProtection Plus 1000
    • 21. $1128 annually + $1000 deductible = $2128 annually
    • 22. $94 monthly per person
    • 23. $1000 deductible annually
    • 24. 40% of call insurance for in work services
    • 25. Individual coverage
    Total: $2128
    Remaining Income: $22,055.5
  • 26. Housing (Shared Cost)
    Location:
    3620 West 102nd Street Inglewood
    Los Angeles
    90303
    Housing Cost:
  • Housing (Pictures)
    SayakaRemaining Income: $21,543VivianRemaining Income: $21,413
  • 40. Taxation
    See the 1040 EZ form embedded on our Wiki.
  • 41. Transportation
    Vivian Lu
    bicycle - Huffy 26-inch Ladies Cruiser Deluxe Bike (Rasberry)
    $119.99 (from Target.com)
    25 min to LAX (our work place)
    Sayaka Yoshikawa
    • bicycle - Huffy 26-inch Ladies Cruiser Deluxe Bike (Rasberry)
    • 42. $119.99 (from Target.com)
    • 43. 25 min to LAX (our work place)
    During Weekends
    • Public Transportation (amtrak, public bus):
    • 44. Vivian: $240
    • 45. Sayaka: $240
    SayakaRemaining Income: $21,103.01VivianRemaining Income: $20,973.01
  • 46. Utilities
    (calculated on an annual basis, shared cost)
    • Electricity: $964.20
    • 47. Water: $585.00
    • 48. Gas: $507.08
    • 49. Internet: $460.80
    • 50. Phone:
    • 51. Vivian: T-mobile $719.88 (2-year plan)
    • 52. “T-Mobile® my Touch™ 3G Slide – Black” (FREE)
    • 53. Sayaka: Sprint $599.88 (2-year plan)
    • 54. “Samsung Transform” ($49.99)
    SayakaRemaining Income: $19,194.6 VivianRemaining Income: $18,994.59
  • 55. Saving
    Sayaka Yoshikawa
    • Bank of America
    • 56. Monthly saving: $833.33
    • 57. Saving account: $10,000
    • 58. APY: (.45%)
    • 59. Checking account: $9,194.60
    Vivian Lu
    • Bank of America
    • 60. Monthly saving: $833.33
    • 61. Saving account: $10,000
    • 62. APY: (.45%)
    • 63. Checking account: $8,994.59
    ***Remaining Income from previous subtractions are all added to our bank.
  • 64. Conclusion
    Among the things we learned through the project The Living Cost of Income are how to calculate our actual taxation based on income, the way to look for a house with an appropriate rent, an ability to consider and care about every possible detail, and more. We sometimes got confused and stuck, for this was our first time experiencing calculating the actual cost of living; however, we sought for help and finally completed the tasks. We also learned how to compromise our living standards and different living habits in order to virtually live together. We had difficulty figuring out the economic framework of our society, especially the system of taxation(1040EZ), but we are glad that we completed this project because now we know how to calculate and use 1040EZ and do not have to worry about it after graduating college.
  • 65. Works Cited
    Apartments for Rent & Homes for Rent - Rent.com® Apartment Finder. Viva Group, Inc., 2011. Web. 01 June 2011. <http://www.rent.com/account/myrent/view>.Bank of America | Home | Personal. Bank of America Corporation, 2011. Web. 07 June 2011. <https://www.bankofamerica.com/>.Cell Phones| 4G Cell Phone Plans |Android Tablet PCs| T-Mobile. T-Mobile USA, Inc, 2010. Web. 08 June 2011. <http://www.t-mobile.com/>.Cell Phones, Mobile Phones & Wireless Calling Plans from Sprint. Sprint, 2010. Web. 03 June 2011. <http://www.sprint.com/index_c.html>.Individual Health Insurance Quotes, Information and Advice. HealthCare.com Inc., 2009. Web. 02 June 2011. <http://www.healthcare.com/>."MacBook Air - The next Generation of MacBooks." Apple. Apple Inc., 2011. Web. 03 June 2011. <http://www.apple.com/macbookair/>."Social Security Update 2011." The United States Social Security Administration. USA.gov, 09 Feb. 2011. Web. 06 June 2011. <http://www.ssa.gov/pubs/10003.html>.Target.com - Furniture, Patio, Baby, Toys, Electronics, Video Games. The Bullseye Design and Bullseye Dog Are Trademarks of Target Brands, Inc., 2011. Web. 01 June 2011. <http://www.target.com/>.

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