Question

Sammy makes $2362/month as a baseball coach. He is making a budget, and has made the following chart in order to divide his monthly paycheck into his accounts:
(See image)
Sammy has included a total row to help make sure that his paycheck can be divided to make deposits into these 4 accounts. If there were any extra, then he would increase one or all of the deposits. If there were not enough, he would decrease one or all of the deposits. Explain how Sammy calculated his total amount deposited.

Answer 1

Sammy calculated the total amount that he deposited by adding up the total amount deposited in each account.

• The Checking account is used to pay for fixed and variable essential expenses.  In this account, Sammy deposited $1,712.

• The Cash account is used for non-essential expenses, like snacks, etc.  A total of $260 was deposited into this account.

• The Emergency Savings account is used for both other predictable and unpredictable expenses.  A total of $340 was deposited into the account.

• For the Vacation Savings account, it is used to carter for other long-term expenses.  A total of $50 was deposited into the account.

• When these accounts are added up, the total deposit made by Sammy can be calculated to be $2,362 ($1,712 + $260 + $340 + $50).

Data and Calculations:

Accounts             Checking   Cash Account    Emergency     Vacations

                                                                             Savings         Savings

Expenses:

Essential (fixed)       $1,292

Essential (variable)      420

Non-essential                                  $260

Other predictable                                                   $130

Other (unpredictable)                                              210

Other (long-term)                                                                        $50

Total                       $1,712              $260             $340             $50

Thus, Sammy calculated the total amount that he deposited by adding up the total deposit in each account.

Link for related question:

brainly.com/question/22429629