question archive The expenses and income of an individual are given in table form below

The expenses and income of an individual are given in table form below

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The expenses and income of an individual are given in table form below. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes. When you need to convert between weeks and months, assume that 1 month = 4 weeks. Income Expenses Part-time job: $500 / month Rent: $450 / month College fund from grandparents: Groceries: $60 / week $300 / month Tuition and fees: $3600 twice a Scholarship: $4800 / year year Incidentals: $70 / week 2

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working shown below

Step-by-step explanation

SOLUTION

Monthly cash flow = monthly inflows - monthly outflows

 

Inflow: = 500 +300 +4800/12 = $1200 /month

 

Outflow:
450 + (60*4) + (3600/6) + (70*4) = $1570 / month

net monthly cash flow = 1200 -1570 = $-370