The monthly income is $844.
Given:
- Weekly earning after taxes is $700
- Monthly rent is $725
- Monthly expense for utilities is $125
- Monthly expense for cable/internet is $120
- Monthly expense for cellphone is $35
- Monthly expense for bus fare is $48
- Minimum monthly payment of credit card debt is $78
- Monthly expense for groceries is $600
- Monthly expense for dining out and entertainment is $225
To find: The monthly income
The monthly income refers to the amount of money left over each month after paying all expenses.
Evaluating, we have,
The total monthly expense = $()
That is, the total monthly expense is $1956.
It is given that weekly earning after taxes is $700. Since a month contains 4 weeks, we can say that monthly earning after taxes is $(), that is, $2800.
Then, monthly income is given by the difference between the monthly earnings and the monthly expenses. So, monthly income is $(), that is, $844.
The monthly income is $844.
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