QUESTION IMAGE
Question
antonio is ready to move out of his parents house and live on his own. he found a great apartment and the utilities are included. his job as an assistant plumber requires him to have a car, but his hours are flexible enough to give him time on the weekends to have fun with his friends. what is the best way antonio’s budget can be modified to help him save enough for the $200 down payment and make the $500 monthly rental payment?
| monthly budget | old budget | new budget |
|---|---|---|
| expenses<br>food<br>cell phone<br>savings<br>entertainment<br>car expenses | $250 $175<br>$200 $200<br>$300 | $ $<u></u><br>$ $<u></u><br>$<u></u> |
| net income | $375 | $<u></u> |
a. antonio could keep his budget the same and hope he gets a raise at work.
b. antonio could reduce his monthly entertainment expenses by $100 to help pay the monthly rent. he could take $200 out of savings once for the deposit.
c. antonio could live at his parent’s house for one more month and save his net income. after one
Step1: Calculate total old expenses
$\$250 + \$175 + \$200 + \$200 + \$300 = \$1125$
Step2: Confirm income vs old net
$\$1500 - \$1125 = \$375$ (matches given net income)
Step3: Analyze new required costs
New mandatory cost: $\$500$ monthly rent. Need $\$200$ down payment.
Step4: Evaluate option b feasibility
Cut entertainment by $\$100$: new entertainment = $\$200 - \$100 = \$100$. Use $\$200$ savings for down payment. New monthly expenses: $\$250 + \$175 + \$0 + \$100 + \$300 + \$500 = \$1325$. $\$1500 - \$1325 = \$175$ positive net income.
Step5: Evaluate other options
Option a relies on uncertain raise. Option c delays moving out, while option b allows immediate move with budget adjustments.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
b. Antonio could reduce his monthly entertainment expenses by $100 to help pay the monthly rent. He could take $200 out of savings once for the deposit.
Completed New Budget:
| Monthly Budget | Old Budget | New Budget |
|---|---|---|
| Expenses | ||
| Food | $250 | $250 |
| Cell Phone | $175 | $175 |
| Savings | $200 | $0 |
| Entertainment | $200 | $100 |
| Car Expenses | $300 | $300 |
| Rent | $0 | $500 |
| Net Income | $375 | $175 |