monthly expenses\tamount budgeted\nrent\t$600\nutilities, phone, internet\t$230\ngroceries\t$300\nentertainme…

monthly expenses\tamount budgeted\nrent\t$600\nutilities, phone, internet\t$230\ngroceries\t$300\nentertainment\t$50\nrenters insurance\t$20\ncar/insurance/gas\t$475\ndiscretionary spending\t$75\ntotal expenditures\t$1,850\nnet savings\t$100\nyou have a new goal of saving at least $4,500 over the course of the next year. you already have $900 saved. by how much would you need to increase your monthly net savings in order to meet this goal?\n$100\n$150\n$200\n$250

monthly expenses\tamount budgeted\nrent\t$600\nutilities, phone, internet\t$230\ngroceries\t$300\nentertainment\t$50\nrenters insurance\t$20\ncar/insurance/gas\t$475\ndiscretionary spending\t$75\ntotal expenditures\t$1,850\nnet savings\t$100\nyou have a new goal of saving at least $4,500 over the course of the next year. you already have $900 saved. by how much would you need to increase your monthly net savings in order to meet this goal?\n$100\n$150\n$200\n$250

Answer

Explanation:

Step1: Calculate remaining savings goal

The goal is to save $4500$ and already have $900$ saved. So the remaining amount to save is $4500 - 900=3600$.

Step2: Determine monthly savings needed

There are 12 months in a year. To find the monthly savings needed to reach the remaining goal, divide the remaining amount by 12. So $\frac{3600}{12}=300$.

Step3: Find increase in monthly net - savings

Currently, the monthly net - savings is $100$. The new required monthly savings is $300$. The increase is $300 - 100 = 200$.

Answer:

$200$