Question

Each month, Morse budgets $1,955 for fixed expenses, $ 716 for living expenses,and $169 for annual expenses. His annual net income is $ 55,052. Describe hismonthly budget by using a positive number to show how much of a surplus thereis, a negative number to show how much of a deficient there is, or zero if it is abalance budget. Round answer to the nearest whole number. For units use a wordnot a symbol.

Answer 1

The annual income is

`=55,052`

The annual expense is

`=169`

Step 1:

To determine his monthly expense here, we will divide by 12

`\text{Monthly expenses =}\frac{annual\text{ income}}{12}`

By substituting the values, we will have

`\begin{gathered} \text{Monthly expenses =}\frac{annual\text{ income}}{12} \\ \text{Monthly expenses =}(55,052)/(12) \\ \text{Monthly expenses}=4787.67 \end{gathered}`

Step 2:

Calculate the monthly expenses

Divide the annual expense by 12 and then add to the living expenses and the fixed expenses

`\begin{gathered} =(169)/(12) \\ =14.08 \end{gathered}`

let's describe his monthly budget using the letter

`x`
`\text{monthly expenses}=\text{monthly income }`
`1,955+716+14.08+x=4587.67`
`\begin{gathered} 2685.08+x=4587.67 \\ x=4587.67-2685.08 \\ x=1902.59 \\ x=1903 \end{gathered}`

Hence,

The final answer is = 1903 dollars per month