Question

Each of you will assume that your employment is attending school at Southeast Middle for a standard week (5 days) earning 10 dollars an hour as a pay rate. You work eight hours per day (6:45am - 2:45pm). As a student you still live at home. However, you have responsibility for some of your 'extra' bills. Your phone bill is $75. Your food/snacks cost $300. Your transportation/entertainment is $225. Your clothes bill is $200.

Answer 1

Let's break down your income and expenses based on the information you've provided:

Income Calculation

1. Hourly Wage: $10/hour
2. Hours Worked per Day: 8 hours
3. Work Days per Week: 5 days

Weekly Income Calculation: \[ \text{Weekly Income} = \text{Hourly Wage} \times \text{Hours Worked per Day} \times \text{Work Days per Week} \] \[ \text{Weekly Income} = 10 \text{ dollars/hour} \times 8 \text{ hours} \times 5 \text{ days} = 400 \text{ dollars} \]

Expense Calculation

1. Phone Bill: $75
2. Food/Snacks: $300
3. Transportation/Entertainment: $225
4. Clothes Bill: $200

Total Weekly Expenses Calculation: \[ \text{Total Expenses} = \text{Phone Bill} + \text{Food/Snacks} + \text{Transportation/Entertainment} + \text{Clothes Bill} \] \[ \text{Total Expenses} = 75 + 300 + 225 + 200 = 800 \text{ dollars} \]

Weekly Financial Summary

1. Weekly Income: $400
2. Total Expenses: $800

Balance Calculation

\[ \text{Balance} = \text{Weekly Income} - \text{Total Expenses} \] \[ \text{Balance} = 400 - 800 = -400 \text{ dollars} \]

Conclusion

At the end of the week, you will have a deficit of $400. To cover all your expenses, you will either need to increase your working hours, find a higher-paying job, or reduce your expenses.