Question

1. karens monthly income is $2379.00 and her monthly expenses are as follows.

expenses
rent $775.00
utilities $175.00
car payment $342.00
car insurance $123.00
renters insurance $42.00
groceries $225.00
gas $90.00
entertainment $75.00
miscellaneous $50.00
in january, karen starts saving for a trip in july that will cost her $3000.00. will she have enough saved by the beginning of july? how much more/less will she have in savings?

Explanation:

Step1: Calculate total monthly expenses

$775 + 175+342 + 123+42+225+90+75+50=\$1997$

Step2: Calculate monthly savings

$2379 - 1997=\$382$

Step3: Calculate total savings from January - June

There are 6 months from January to June. So, $382\times6 = \$2292$

Step4: Compare with trip cost and find difference

The trip costs $3000$. Since $2292<3000$, she doesn't have enough. The difference is $3000 - 2292=\$708$

Answer:

No, she will have $708$ less in savings.