Cynthia is making a budget. She makes a monthly net income of $2,300; plus, she earns an additional $640 each month for providing weekend child care. She lists her dedicated expenses.

Question

Description Amount
rent $775
utilities $308
car payment $385
student loan payment $273
cell phone plan $87
book club membership $30

How much money is left for the rest of her monthly budget? Show your work or explain how you got your answer.

(4 points)

Answer 1

To calculate how much money Cynthia has left for the rest of her monthly budget, we will first determine her total monthly income and then subtract her total dedicated expenses from it.

1. Calculate Total Monthly Income:

   • Monthly net income: $2,300
   • Additional income from weekend child care: $640
   • Total monthly income = $2,300 + $640 = $2,940

2. Calculate Total Dedicated Expenses:

   • Rent: $775
   • Utilities: $308
   • Car payment: $385
   • Student loan payment: $273
   • Cell phone plan: $87
   • Book club membership: $30

   Now, sum these expenses: \[ \text{Total Expenses} = 775 + 308 + 385 + 273 + 87 + 30 \]

   • First, calculate them step by step:
     • \(775 + 308 = 1,083\)
     • \(1,083 + 385 = 1,468\)
     • \(1,468 + 273 = 1,741\)
     • \(1,741 + 87 = 1,828\)
     • \(1,828 + 30 = 1,858\)

   So, the total dedicated expenses = $1,858

3. Calculate Amount Left for the Rest of the Budget: Now subtract the total expenses from the total income: \[ \text{Money Left} = \text{Total Income} - \text{Total Expenses} \] \[ \text{Money Left} = 2,940 - 1,858 = 1,082 \]

Thus, the amount of money Cynthia has left for the rest of her monthly budget is $1,082.