Question

Suppose that in your first year of college you spend $31,300.00 more than you eam. In your second year, your expenses increase a bit, leading you to spend $31.900.00 more than you earn. This gap goes to $32.150.00 in your third year of college, then falls a bit to $32,150.00 in your fourth and final year ist attempt What is your deficit in your third year of college? s s How much debt do you have that year? S

Answer 1

Answer: See explanation

Explanation:

Based on the information provided in the question, the deficit in the 3rd year of college will be: = $32,150

The total debt that one owes in the 3rf year will then be the addition of the debts from the 1st to the 3rd year and this will be:

= $31,300 + $31,900 + $32,150

= $63,232

Answer 2

Answer:

1. $32,150

2. $95,350

Explanation:

The deficit in the third year is given in the introduction: $32,150

The deficit measures how expenditures in a given year match up with earnings, whereas the debt is the total accumulation of deficits.

The debt after your third year is the sum of the deficits from your first three years: $31,300 + $31,900 + $32,150 = $95,350