Question

Each month, Morse budgets $1,215 for fixed expenses, $ 449 for living expenses,and $362 for annual expenses. His annual net income is $ 56,793. Describe hismonthly budget by using a positive number to show how much of a surplus there is, anegative number to show how much of a deficient there is, or zero if it is a balancebudget. Round answer to the nearest whole number

Answer 1

His annual net income is $56,793, therefore, if we divide this amount by 12 we're going to have his monthly income.

`(56793)/(12)=4732.75`

This is his positive income every income, and the expenses are the negative values on his budget. His monthly budget is given by

`4732.75-1215-449-362=2706.75\approx2707`

His monthly budget is a surplus of $2707.