Question

PLZZZZZ NEED HELP!!!!!

You just started working at Chicken Stop Restaurant after school. You earn 10 dollars an hour,and work 20 hours a week.

1. What is your monthly gross income? (Hint: Find annual, then monthly)

2. Since you live at home with your parents and don’t have living expenses, you want to be wise with your money and save as much as possible. You want to save 50% of your income so that you can buy a car when you graduate and go to college. How much money are you saving each month for your car?

3. You have $1250 already saved from birthdays, holidays, odd jobs, and allowance. How many months will it take to save up for a car, if the one you want costs 9,000 dollars?

4. You also have the option of taking out a car loan so that you can have your car now.
You put down 1200 as a down payment and end up only borrowing 7800 to buy the
car. You have a monthly payment of $143.65 and you will pay it off after 5 years. How
much interest will you pay?

5. Which option will you choose? Save up for the car, or buy it now? Write a few
sentences to explain your answer. There is no wrong answer, but you do need to use
complete sentences and explain why you chose to save or buy now.

Answer 1

800 a month

Step-by-step explanation: 10times20=200

there is 4 weeks in a month so you do 200,400,600,800,