Question

You realized income is $2,412.54/month. How much discretionary monies do you have each month? $________/month

Expense and Amount
Rent payment = $953.20/month
Auto payment = $165.87/month
Telephone = $56.98/month
Auto insurance = $714.36/six months
Once-a-week outing = $35.00/week

Answer 1

To calculate discretionary monies, subtract the monthly expenses from the income. The discretionary monies each month are $1,107.68.

Step-by-step explanation:

To calculate discretionary monies, we need to subtract the monthly expenses from the income. Let's calculate it:

1. Rent payment = $953.20/month
2. Auto payment = $165.87/month
3. Telephone = $56.98/month
4. Auto insurance = $714.36/six months => $714.36/6 = $119.06/month
5. Once-a-week outing = $35.00/week => $35.00/4 = $8.75/month

Total monthly expenses = $953.20 + $165.87 + $56.98 + $119.06 + $8.75 = $1304.86

Discretionary monies = Income - Total monthly expenses = $2,412.54 - $1304.86 = $1,107.68/month

Therefore, the discretionary monies each month are $1,107.68.