5. what are marks total expenses every month? \n6. how much money does mark save every month? \nexpenses…
5. what are marks total expenses every month? \n6. how much money does mark save every month? \nexpenses: rent $100,000, transportation $150,000, food $5,000, travel $300,000, utilities $7,500, insurance $100,000 \nfun $50,000 \ntotal: $712,500
Answer
Explanation:
Step1: Sum up all expense - categories
$100000 + 7500+300000 + 5000+150000+100000=662500$
Step2: Calculate savings
Given total income is $50000$, and total expenses are $662500$. Since income is less than expenses, Mark has no savings. The amount he is short (negative - savings) is $662500 - 50000=612500$. But if we assume there is a mistake and the total income is $500000$ (as the $50000$ seems low compared to expenses), then savings = $500000-662500=- 162500$. If we go by the data strictly as presented and assume income is $50000$, savings is $50000 - 662500=-612500$. If we assume the total value of $712500$ (from the "Total" in the "Fun" section) is the income, then savings = $712500-662500 = 50000$.
Answer:
If we assume income is $50000$, Mark saves $- 612500$ (he is in debt). If we assume income is $712500$, Mark saves $50000$.