koe lives in the city and doesnt have a car. he takes the bus to work, teaching math in a local high school…

koe lives in the city and doesnt have a car. he takes the bus to work, teaching math in a local high school that pays him $40,000 per year. a similar job has become available in a nearby suburb that pays $50,000 per year. however, he needs a car to get to this job. he figures that he could buy a reliable car with monthly payments of $300. insurance, parking, tolls, gas, and all will cost an extra $100 per month. is this a good deal for him financially? a. there is no difference in incomes when expenses are subtracted. b. it is impossible to tell with the data provided. c. yes, the new job will provide more income. d. no, the new job will provide less income.

koe lives in the city and doesnt have a car. he takes the bus to work, teaching math in a local high school that pays him $40,000 per year. a similar job has become available in a nearby suburb that pays $50,000 per year. however, he needs a car to get to this job. he figures that he could buy a reliable car with monthly payments of $300. insurance, parking, tolls, gas, and all will cost an extra $100 per month. is this a good deal for him financially? a. there is no difference in incomes when expenses are subtracted. b. it is impossible to tell with the data provided. c. yes, the new job will provide more income. d. no, the new job will provide less income.

Answer

Explanation:

Step1: Calculate annual extra - costs

The monthly cost for the car is the sum of the car payment ($300) and other expenses ($100), so the monthly cost is $300 + 100=400$. Annual cost is $400\times12 = 4800$.

Step2: Calculate income difference

The income from the new job is $50000$ and from the current job is $40000$, so the income difference is $50000 - 40000=10000$.

Step3: Compare income difference and extra - costs

The income difference ($10000$) is greater than the annual extra - costs ($4800$).

Answer:

C. Yes, the new job will provide more income.