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# MGF 1107 Lecture 4: Conceptual HW 4A JoniHaxhi-1Exam

Department
Mathematics - General and Fini
Course Code
MGF 1107
Professor
Juan
Study Guide
Final

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Conceptual Homework 4A
You have an annual salary of \$79,000 from which they deduct 3% for medical insurance and 15% for taxes.
Your rent is \$1300 a month. Your water bill comes every 2 months for \$106, and your light bill is \$108 a
month. You have a child that goes to a 30-minute karate class twice a week for \$12 per session and you
receive child support for that child every month in the amount of \$152. Every week you put 120 miles on your
car that gives you 24 miles per gallon and gas cost \$2.19 per gallon. You pay a premium of \$922 every six
months for car insurance. You spend \$135 a week on food. You also have a student loan that you are paying
\$165 on every month. and you spend \$80 every 2 weeks just to treat yourself.
Create a monthly budget and find your monthly cash flow. You must show work.
15 % + 3 %= 18 %
Taxes = 18 / 100 x 79.000\$ = \$14.220
Rent = \$1300
Water bill = 106\$ x 6 = \$636
Light bill = 108\$ x 12 = \$1296
Child that goes to karate class = 12 x 2 (as he goes twice a week) = \$24 for both sessions.
24\$ x 48 = \$1248
Child support amount received = 152\$ x 12 = \$1824
Gas cost = 120 / 4 = 5 2.19\$ x 5 = \$10.95 10.95\$ x 52 = \$569.4
Premium car insurance cost = \$1844
Food cost = \$6480
Student loan cost = \$1980
Cost of treating myself = 80 x 2 = \$160 / month 160\$ x 12 = \$1920
So if I remove all of these things from my annual salary the moneys that I would have left would be:
79.000\$ - 29,669.4\$ = \$ 49,330.6 / year
49,330.6 / 12 = \$4,110.883 approx. / month with all of those expenses and received children support. Without
them it would be 79.000 / 12 + 1824\$ = \$ 8,407.3 approx. / month