Question

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities.
How much money will they save monthly by the move to Oakland?

Answer 1

Total monthly saving = $1,315

What are savings?

Saving is the portion of income not spent on current expenditures. In other words, it is the money set aside for future use and not spent immediately.

Given:

                        Oakland     Los Angeles  

Cost Housing       $565        $1200

Food                     $545        $655

Health Care         $245        $495

Taxes                    $450         $625

Other Necessities $350        $495

Now,

Saving in house

= $1200 - $565

= $635

Saving in food

= $655 - $545

= $110

Saving in health care

= $495 - $245

= $250

Saving in taxes

= $625 - $450

= $175

Saving in necessities

= $495 - $350

= $145

Total saving = $635+$110+$250+$175+$145

                    = $1,315

Hence, the monthly savings should be $1,315.

Learn more about this concept here:

brainly.com/question/13096261

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The complete question is

Benito's family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765?