Question

Use the following flowchart to determine if the family qualifies for bankruptcy. Their yearly income is 58,000- the median annual income is $47,778 and the family has a monthly expenses of $4,600.

Answer 1

Do not qualify

Explanation:

Yearly income = $58000

Monthly income =
`(58000)/(12)` = $4833.33

Median annual income = $47778

Monthly expenses = $4600

Income < Median Income ? 58000 < 47778 -> No

x = (Monthly income - expenses) * 60

= (4833.33 - 4600) * 60

= 233.33 * 60

= 13999.8

x < 10000 ? 13999.8 < 10000 -> No

So, Do not qualify

Answer 2

The family does not qualify for bankruptcy

Explanation:

Expenses=$4,600

Yearly income=$58,000

Monthly income=Yearly income / 12

Monthly income=$58,000/12

Monthly income=$4,833.333333

Rounded to the nearest cent:

Monthly income=$4,833.33

Flowchart

No

Mean test. Calculate

Income=$58,000<$47,778=Median → (Monthly income - expenses)*60

Income ($4,833.33-$4,600)*60

($233.33)*60

$13,999.80

Call this number X. No

X=$13.999.80 < $10,000 → Do not

qualify

The family does not qualify for bankruptcy