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Question
name:
practical math
you are a financial advisor by profession. a potential client walks into your office seeking to contract you as their financial advisor. they are really stressed out because they can not afford to pay all of their bills every month. they also do not want to take out high - interest credit cards to cover bills that they can not afford. you do a quick glance at their financial statements. you conclude that:
money coming in:
income (server at local restaurant): ~$3,500.00 per month
annuity: $650.00 per month
money coming out:
needs:
rent: $1,745.00 per month
car payment: $463.97 per month
car insurance: $307.46 per month
cell phone: $93.83 per month
internet: $67.54 per month
fuel: ~$350.00 per month
electricity: $225.00 per month
heat: $195.00 per month
water/sewage: $115.00 per month
wants:
netflix (premium): $19.99 per month
disney plus (ad free and hulu ad free): $20.00 per month
restaurants: ~$750.00 per month
dunkin donuts/starbucks: ~$150.00 per month
personal hygiene: ~$350.00 per month
1.) what is the clients total money coming in per month?
Step1: Identify income sources
The client has two income - sources: restaurant server income and annuity.
Step2: Calculate total income
Add the server income and annuity. Server income is $3500 per month and annuity is $650 per month. So, the total money coming in is $3500 + 650$.
$3500+650 = 4150$
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