The expenses and income of an individual are given in table form. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes, that 1 month =4 weeks, and that 1 yere −12 months. Round your answer to the nearest dollar.\begin{tabular}{|c|c|}\hline Income & Expenses \\\hline Salany \$\(64500\)/year & Mortagage: \( \$ 3450 / \) month \\\(\newline\)\hline Je welry sales: \( \$ 400 / \) month & Groceries: \( \$ 150 / \) week \\\(\newline\)\hline & Household expenses \( \$ 240 / \) month \\\(\newline\)\hline & Car ingurance: \( \$ 2150 \) semianrually \\\(\newline\)\hline & \begin{tabular}{l} \(\newline\)Donations: \( \$ 800 \) year \\\(\newline\)Miscellaneous: \( \$ 500 / \) month\(\newline\)\end{tabular} \\\(\newline\)\hline\(\newline\)\end{tabular}
Q. The expenses and income of an individual are given in table form. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes, that 1 month =4 weeks, and that 1 yere −12 months. Round your answer to the nearest dollar.\begin{tabular}{|c|c|}\hline Income & Expenses \\\hline Salany \$\(64500\)/year & Mortagage: \( \$ 3450 / \) month \\\(\newline\)\hline Je welry sales: \( \$ 400 / \) month & Groceries: \( \$ 150 / \) week \\\(\newline\)\hline & Household expenses \( \$ 240 / \) month \\\(\newline\)\hline & Car ingurance: \( \$ 2150 \) semianrually \\\(\newline\)\hline & \begin{tabular}{l} \(\newline\)Donations: \( \$ 800 \) year \\\(\newline\)Miscellaneous: \( \$ 500 / \) month\(\newline\)\end{tabular} \\\(\newline\)\hline\(\newline\)\end{tabular}
Convert to Monthly Salary: First, convert the annual salary to a monthly amount by dividing by 12.$64500/year÷12 months/year=$5375/month.
Calculate Grocery Expense: Next, calculate the monthly expense for groceries by multiplying the weekly cost by 4, since there are 4 weeks in a month.$150/week×4 weeks/month=$600/month.
Convert Car Insurance Payment: Then, convert the semiannual car insurance payment to a monthly amount by dividing by 6, because there are 6 months in a semiannual period.$2150 semiannually ÷6 months/semiannual = $358.33/month.
Convert Annual Donations: Now, convert the annual donations to a monthly amount by dividing by 12.$800/year÷12 months/year=$66.67/month.
Calculate Total Income: Add up all the monthly income sources.Salary: $5375/month + Jewelry sales: $400/month = $5775/month.
Calculate Total Expenses: Add up all the monthly expenses.Mortgage: $3450/month + Groceries: $600/month + Household expenses: $240/month + Car insurance: $358.33/month + Donations: $66.67/month + Miscellaneous: $500/month = $5215/month.
Calculate Net Cash Flow: Subtract the total monthly expenses from the total monthly income to find the net monthly cash flow.$5775/month−$5215/month=$560/month.
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