Question
| The expenses and income of an individual are given in table form to the right. Find the net monthly cash flow (it may be negative or positive). Assume that amounts shown for salaries and wages are after taxes and that1 month=4 weeks. | Income | Expenses | |
|---|---|---|---|
| Part-time job: $1400/month | Rent: $450/month | ||
| Student loans: $6000/year | Groceries: $50/week | ||
| Scholarship: $6000/year | Tuition and fees: $6500/year | ||
| Health insurance: $40/month | |||
| Entertainment: $200/month | |||
| Phone: $45/month |
The net monthly cash flow is
$nothing.
(Round to the nearest dollar as needed.)
Expert Answer
The net monthly income
=> 1400+(6000/12)+(6000/12)=1400+500+500
=> 2400
The net monthly expenses
=>450+50*4+6500/12+40+200+45
=>450+200+541.667+285
= 1476.667
So the net monthly cash flow = 2400-1476.667= $923.333
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