Upon completion of his degree, Michael is hired as a technician at the rate of $900 every two weeks (after taxes). His monthly bills, payable on the first of the month, are:

Question

Upon completion of his degree, Michael is hired as a technician at the rate of $900 every two weeks (after taxes).  His monthly bills, payable on the first of the month, are:

Rent			$500
	Electricity		    80
	Gas (heat)		    65
	Car payment		  300
	Car insurance              70
	Fuel for car		    80
	Groceries		  150
	Credit cards		  200

Given Michael’s current expenses, how much money is available weekly for leisure spending?
Instead of spending his additional earnings each month, Michael chooses to open a savings account offering 3% interest, accrued monthly.  Calculate the amount of money Michael will have in his savings account at the end of each of the following periods.

(a)	three months
(b)	six months
(c)	one year

Writeacher · Answer

Incomplete post.

Ed · Answer

I was asked the same problem in my class. 88.75 left weekly

Justin · Answer

The answer I got was $116.54 weekly. If you divide his bi-weekly in half and multiply by 52 (weeks in a year), then divide by 12 (months).