154k views
4 votes
Create a budget using the following information. Corinne has a net spendable income of $1,600 per month. Her health insurance costs have been taken out of her pay before determining the net spendable income. She has the following expenses: Housing: Rent $500/month (utilities and sanitation included) Telephone/Internet $75/month Renters Insurance $60/every six months Transportation: Car Payments $80/month Gas/Oil at least $120/month Insurance $540/year Life Insurance $240/year Debts $60/month

2 Answers

6 votes
Income +1600
Rent -500
Phone/Internet -75
Renters Insurance -10
Car Payment -80
Gas/Oil -120
Insurance -45
Life Insurance -20
Debts -60


1600 - 500 - 75 - 10 - 80 - 120 - 45 - 20 - 60 = 690

$690/month left over

User Raja Simon
by
8.3k points
6 votes

Answer:

Balance (Positive) = Income - Expenses = 1,600 - 910 = $690

Explanation:

.................................................................Monthly amount

Net Income ............................................................$1,600

Expenses:

Housing Rent ........................................$500

Telephone/Internet ................................$75

Renters Insurance (60/6 months) .......$10

Transportation Car Payments .............$80

Gas/Oil at least ......................................$120

Insurance (540/12 months) ..................$45

Life Insurance (240/12 months)...........$20

Debts .........................................................$60

Total Expenses ........................................................$910

Balance (Positive) (1,600 - 910) .....................$690

Hope this helps!

User Fredy Mederos
by
7.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories