Judy is a single woman, 25 years old. Her take home pay is $2314.92/month. She also earns $48 interest per month on her savings
1 answer:
The monthly budget plan for Judy includes all of her income and expenses, the total balance is $ 2362.92 and she spends $ 1083.
<h3>What is the monthly budget?</h3>A monthly budget is a personal spending plan that you use to track your monthly income and costs.
The given data in the problem is;
Home pay = $2314.92/month.
Interest earned = $48 / month
House rent = $825/month
EMI of student loan = $258/month
Total earning per month = $2314.92 + $48
Total earning per month = $ 2362.92
Amount she spends per month = $825/month + $258
Amount she spends per month = $ 1083
Hence, the total balance will be $ 2362.92 and she spend $ 1083.
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Answer: $1,412.52
Step-by-step explanation:
Formula to calculate the accumulated amount if <em>P</em> principal invested for <em>t </em>years at a rate of interest <em>r</em> that compounded daily is given by:-
Given: P= $2,335.69
r= 4.3%= 0.043
t= 11 years
Then,
Interest earned = A-P
= $3748.21- 2335.69.
= $1412.52
Hence, Neal earned $1,412.52 as interest.