Angela's monthly disposable income is $1 comma 973 . She has monthly expenses of $1 comma...
Angela's monthly disposable income is $1 comma 973 . She has monthly expenses of $1 comma 755 (including recreational expenses of $241 ) and net cash flow of $218 per month. Angela makes a budget based on her personal cash flow statement. In two months, she must pay $276 for tags and taxes on her car. As a result, Angela can expect to save $ 2 comma 340 in the next 12 months. Angela analyzes her personal budget and decides that she can reduce her recreational spending by $34 per month. How much will that increase her annual savings? What will her annual savings be now?
Homework Answers
| Savings before payment for tags and taxes on cars = 218*12 = | 2616 | |
| Less: Tags and taxes on cars | 276 | |
| Present net savings | 2340 | |
| a) | Increase in annual savings due to reduction in recreational spending (34*12) | 408 |
| b) | Annual savings (2340-408) | 1932 |
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