Question

Sue is a college student living in an apartment with friends. She works at a local gym 20 hours per week. She makes $11.00 per hour. Sue has a savings account from working during high school and working full-time summer jobs. During the school year, she withdraws $100 per month in order to help her cover living expenses. Sue's parents are helping with an additional $100 per month. Use 85% of Sue's gross income for the month for her net income. Sue's fixed monthly expenses are:

Rent: $400

Renters Insurance: $20
Car Insurance: $100
Cell Phone: $50
Utilities: $55
Cable/Internet: $30

Sue's budget must include Giving, Saving, Food, Gas, Entertainment, and Personal.



explain

Answer 1

$1010.33 is the net income

Explanation:

1) multiply: $12.50(20 hrs)= $220 per week

2)multiply: $220 (52 wks)= $$11,440 yr

3) then divide: 11,440 yr/ 12mo+$953.33 mo

4) multiply: $953.33 mo (.85)= $810.33 net

5) then add: $810.33 net+100 (withdraws) +$100.00(Parents)=$1,010.33 net income

Answer 2

A college student makes a deal with her parents to live at home instead of living on campus. She will pay her parents $0.01

Explanation: