The following table shows the expenses and income for a local college student. Assume that amounts shown for salaries and wages are after taxes and that 1 month = 4 weeks.
Income Expenses
Part-time job: $1400/month Rent: $500/month
Student loan: $6600/year Groceries: $40/week
Scholarship: $6000/year Tuition and Fees: $7500/year
Health Insurance: $50/month
Entertainment: $100/month
Phone: $40/month
a) What is the student's monthly income?
b) What is the student's monthly expenses?
c) What is the student's monthly cash flow?
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