Study Guides (400,000)
US (230,000)
FIU (700)
MGF (4)
Final

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


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

This preview shows half of the first page. to view the full 2 pages of the document.
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
You're Reading a Preview

Unlock to view full version