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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.




Income
Expenses


Salany $64500/year
Mortagage: 
$3450// month


Je welry sales: 
$400// month
Groceries: 
$150// week



Household expenses 
$240// month



Car ingurance: 
$2150 semianrually






Donations: 
$800 year


Miscellaneous: 
$500// month

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 11 month =4 =4 weeks, and that 11 yere 12-12 months. Round your answer to the nearest dollar.\newline\begin{tabular}{|c|c|}\newline\hline Income & Expenses \\\newline\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}

Full solution

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 11 month =4 =4 weeks, and that 11 yere 12-12 months. Round your answer to the nearest dollar.\newline\begin{tabular}{|c|c|}\newline\hline Income & Expenses \\\newline\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}
  1. Convert to Monthly Salary: First, convert the annual salary to a monthly amount by dividing by 1212.$64500/year÷12 months/year=$5375/month.\$64500/year \div 12 \text{ months/year} = \$5375/month.
  2. Calculate Grocery Expense: Next, calculate the monthly expense for groceries by multiplying the weekly cost by 44, since there are 44 weeks in a month.\newline$150/week×4 weeks/month=$600/month.\$150/\text{week} \times 4 \text{ weeks/month} = \$600/\text{month}.
  3. Convert Car Insurance Payment: Then, convert the semiannual car insurance payment to a monthly amount by dividing by 66, because there are 66 months in a semiannual period.\newline$2150\$2150 semiannually ÷6\div 6 months/semiannual = $358.33\$358.33/month.
  4. Convert Annual Donations: Now, convert the annual donations to a monthly amount by dividing by 1212.\newline$800/year÷12 months/year=$66.67/month\$800/year \div 12 \text{ months/year} = \$66.67/month.
  5. Calculate Total Income: Add up all the monthly income sources.\newlineSalary: $5375/month\$5375/month + Jewelry sales: $400/month\$400/month = $5775/month\$5775/month.
  6. Calculate Total Expenses: Add up all the monthly expenses.\newlineMortgage: $3450/month\$3450/month + Groceries: $600/month\$600/month + Household expenses: $240/month\$240/month + Car insurance: $358.33/month\$358.33/month + Donations: $66.67/month\$66.67/month + Miscellaneous: $500/month\$500/month = $5215/month\$5215/month.
  7. Calculate Net Cash Flow: Subtract the total monthly expenses from the total monthly income to find the net monthly cash flow.\newline$5775/month$5215/month=$560/month.\$5775/month - \$5215/month = \$560/month.