Question

The expenses and income of an individual are given in table form. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes, that 1 month = 4 weeks, and that 1 year = 12 months. Round your answer to the nearest dollar.
Income:part time job$800/month. Expenses:rent $540 month.
Income:student loan $7500/year
Expenses:Groceries $65/week
Income; scholarships $4600/year
Expenses: Tuition and fees:$3200 twice a year
Expenses:Entertainment:$160/month

Answer 1

To find the net monthly cash flow, we need to calculate the total income and total expenses per month.

Income:
- Part-time job: $800/month
- Student loan: $7500/year = $7500/12 months = $625/month
- Scholarships: $4600/year = $4600/12 months = $383.33/month

Total income per month = $800 + $625 + $383.33 = $1808.33

Expenses:
- Rent: $540/month
- Groceries: $65/week = $65/7 days per week * 30 days = $ 278.57/month
- Tuition and fees: $3200 twice a year = $3200 * 2 = $6400/year = $6400/12 months = $533.33/month
- Entertainment: $160/month

Total expenses per month = $540 + $278.57 + $533.33 + $160 = $1511.90

Net monthly cash flow = Total income per month - Total expenses per month
= $1808.33 - $1511.90
= $296.43

Therefore, the net monthly cash flow is approximately $296.