Question

Mr taggart’s business made $420,590 this year. He had $321,206 in business expenses. What was his average monthly profit rounded to the nearest dollar

Answer 1

Explanation:

To find Mr. Taggart's average monthly profit, follow these steps:

1. Calculate the annual profit: Subtract the total expenses from the total revenue to find the annual profit. In this case, subtract $321,206 (expenses) from $420,590 (revenue) to get $99,384 (profit).

2. Calculate the monthly profit: Divide the annual profit by 12 (the number of months in a year) to find the average monthly profit. In this case, divide $99,384 by 12 to get approximately $8,282.

3. Round to the nearest dollar: Since we are asked to round to the nearest dollar, round $8,282 to the nearest whole number. In this case, the average monthly profit rounded to the nearest dollar is $8,282.

Therefore, Mr. Taggart's average monthly profit, rounded to the nearest dollar, is $8,282.