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Algebra 3-4
June 17, 2008
1. Taxes
a. 20% of $30,142.92
$30,142.92 X .2 = $6,028.584
$30,142.92 - $6,028.584
= $24114.37/12
=$2009.53 (Monthly)
b. Savings
10% of $30,142.92
Technically its 10% of $24,114.37 ( - Taxes)
@24,114.37 X .10 = $2411.437
= $21,702.933/12
=$1808.58 (Monthly)
2. & 3. Housing
Arbor Heights Monthly Rent = $550.00
Water & Electricity: $120.00
Total: $670.00/Month
First Month: ($300.00 Deposit)
=$970.00
4. Car
I = prt
P = $4,000.00 (Price of Car)
Interest Rate: .09 (9%)
Time = 5 years
I = 4,000 (.09)(5)
I = $1,800.00
$1,800.00 + $4,000.00
= $5,800.00
Monthly Payment:
$5,800.00/12 (Months)
= $96.67
5. Cost of Insurance
Mid-Size: $1,400.00
Monthly Payment: $1,400.00/12
= $16.67
6. Gasoline = $50.00
$96.67 + $116.67 + $50.00
(Car) (Insurance) (Gas)
Total: $263.34
7. Food: $150.00/Month
= $800.00/1 Year
8. Cell Phone: $40/1Month
= $480.00 / 1 Year
9. $21,702.933/12
=$1,808.57 Per Each Month
Total of Rent: $550.00/Month ($850.00/1st Month)
Utilities: $150.00
Car: $263.34
Food: $150.00
Cell Phone: $40/Month
First Month (w/Deposit): Monthly:
$1,423.34 $1,123.34
$1,808.57 - $1,423.34 $1,808.57 - $1,123.34
= $385.23 remaining = $685.23 remaining
10.
Monthly Costs
Amount in Monthly Costs
2500
2000
1500
1000
500
0
Taxes Savings Rent Car Food Cell Other Utilities
Phone
Expense Categories
11. Ratios
Taxes: 2009.53 /30142.92 = 15:1
Savings: 1808.58/24114.37 = 13:1
Rent: 550.00/24114.37 = 43:1
Car: 236.34/24114.37 = 102:1
Food: 150.00/24114.37 = 161:1
Cell Phone: 40.00/24114.37 = 603:1
Utilities: $150.00/24114.37 =160 :1
Other: 685.23/24114.37 = 35:1
12. Percents
Taxes: 2009.53 /30142.92 = (6.7)7%
Savings: 1808.58/24114.37 = (7.5) 8%
Rent: 550.00/24114.37 = (2.2)2%
Car: 236.34/24114.37 = (.9) 2%
Food: 150.00/24114.37 = (.6) 1%
Cell Phone: 40.00/24114.37 = (1.6) 2%
Utilities: $150.00/24114.37= (.6) 1%
Other: 685.23/24114.37 = (2.8) 3%
13.
Monthly Costs
3%
1% 12% Taxes
3% Savings
35% Rent
5%
Car
10% Food
Cell Phone
Other
Utilities
31%