The Jones have monthly income of $ 3,110, expenses of $ 1,540, and savings of $ 1,570. In turn, the Jones have annual income of $ 37,320, expenses of $ 18,480, and savings of $ 18,840.
To establish an annual and monthly budget for the Jones, taking into account the expenses raised, the following calculation must be performed:
- All the expenses must be added, and thus the monthly budget is obtained. It must be multiplied by 12 to obtain the annual budget.
- 50 + 450 + 80 + 70 + 90 + 50 + 300 + 190 + 50 + 25 + 100 + 10 + 25 + 50 = X
- 1,540 = X
- 1,555 x 2 = 3,110
- 3,110 - 1,540 = 1,570
Thus, the Jones have monthly income of $ 3,110, expenses of $ 1,540, and savings of $ 1,570.
- 3,110 x 12 = 37,320
- 1,540 x 12 = 18,480
- 1,570 x 12 = 18,840
In turn, the Jones have annual income of $ 37,320, expenses of $ 18,480, and savings of $ 18,840.
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