Question:
Analyze the following budget, with an income of $600, to determine how much can be spent on food for the month.
Cell Phone $65
Food $___
Entertainment $95
College Savings $200
Car Expenses - Gas, Insurance $160
Answer:
[tex]Food = \$80[/tex]
Step-by-step explanation:
Given
[tex]Income = \$600[/tex]
Required
How much should be spent on food
This is calculated as:
[tex]Income = Food + Other\ budgets[/tex]
Where:
[tex]Other\ budgets = Phone + Ent + College + Car, Gas[/tex]
[tex]Other\ budgets = \$65 + \$95 + \$200 + \$160[/tex]
[tex]Other\ budgets = \$520[/tex]
So, we have:
[tex]\$600 = Food + \$520[/tex]
[tex]Food = \$600 - \$520[/tex]
[tex]Food = \$80[/tex]
