Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need answer ASAP,plz???? Jamal has graduated from college and lives with three roommates in a house. He earns net amount of $600 per month working

image text in transcribed

need answer ASAP,plz????

Jamal has graduated from college and lives with three roommates in a house. He earns net amount of $600 per month working part time at a record shop and approximately $900 per month teaching piano. His share of the rent is $550 and includes all utilities and cable. Each month, Jamal spends an average of $300 for groceries, $120 for a transit pass, $25 for laundry, and $50 for telephone service. a) Create a monthly budget for Jamal on a spreadsheet and calculate his balance. (4 points) b) What other occasional expenses might Jamal have? (1 point) c) Two months later, the record shop reduces Jamal's hours, so he now earns $400 per month. Several of his students have left, so his income from piano lessons is now $750 per month. His share of the rent has increased by 2% and the cost of a transit pass has increased by 10%. Adjust Jamal's budget and calculate his new balance. (4 points) d) Suggest ways that Jamal could improve his financial situation. (1 point)

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

Step: 3

blur-text-image

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

Essentials Of Corporate Finance

Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan

9th International Edition

1259254801, 9781259254802

More Books

Students also viewed these Finance questions