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coldgirl [10]
2 years ago
12

You are putting together your first post-graduation budget. Your take-home pay will be $2,500 per month. You estimate your month

ly costs to be rent of $800, car payment of $350, car insurance $150, car maintenance of $50, entertainment of $500, food expense of $250, mobile phone of $75, student loan payment of $225, and other expense of $300. How would you describe your budget after analyzing all of your income and expenses
Business
1 answer:
Mamont248 [21]2 years ago
8 0

Based on your pay and expenses, your budget can be described as having a deficit of <u>$175.</u>

<h3>Why is your budget a deficit?</h3>

Deficits occur when expenses are greater than income. The deficit here can be found as :

= Income - Rent - Car payment - Car insurance - Car maintenance - Entertainment - Food - Mobile phone - student loan payment - Other expense

Solving gives:

= 2,500 - 800 - 350 - 150 - 50 - 500 - 250 - 225 - 300

= -$175

In conclusion, the budget has a deficit of $175.

Find out more on deficits at brainly.com/question/26010226.

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