Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

George earns $20,000 per year at his job. He supplements his income by mowing lawns in the summer. He earns $1000 per month during May,

George earns $20,000 per year at his job. He supplements his income by mowing lawns in the summer. He earns $1000 per month during May, June, July, August, and September. His house payments are $950 per month including insurance and taxes. He also has monthly expenses of $75 for utilities, $50 for his cell phone, $100 for cable and internet combined, and $350 for his car payment. George spends $95 a week on groceries and $50 a week on entertainment. He also pays his car insurance premiums of $350 every six months.

For each item list the pro-rated monthly amount. Round answers to the nearest cent.

What is George's monthly income from mowing lawns?

What is George's monthly payment for his house?

What is George's monthly cost for his utilities?

What is George's monthly cost for his cell phone?

What is George's monthly cost for cable and Internet service?

What is George's monthly car payment cost?

What is George's monthly budget for groceries?

What is George's monthly budget for entertainment?

What is George's monthly cost for car insurance?

What is George's monthly cash flow? (round to 2 decimal places, include negative sign if needed)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Beginners Swing Trading Bible

Authors: Joe Dichristophoro

1st Edition

154241735X, 978-1542417358

More Books

Students also viewed these Finance questions

Question

1. Which is the most abundant gas presented in the atmosphere?

Answered: 1 week ago