Wednesday

October 7, 2015
Posted by **Judy** on Saturday, April 18, 2009 at 4:31pm.

Rent $500

Electricity 80

Gas (heat) 65

Car payment 300

Car insurance 70

Fuel for car 80

Groceries 150

Credit cards 200

Given Michael’s current expenses, how much money is available weekly for leisure spending?

Instead of spending his additional earnings each month, Michael chooses to open a savings account offering 3% interest, accrued monthly. Calculate the amount of money Michael will have in his savings account at the end of each of the following periods.

(a) three months

(b) six months

(c) one year

- Problem solving -
**Judy**, Saturday, April 18, 2009 at 4:32pmIt's not posting the whole problem when I put it in. The rest is

Rent $500

Electricity 80

Gas (heat) 65

Car payment 300

Car insurance 70

Fuel for car 80

Groceries 150

Credit cards 200

Given Michael’s current expenses, how much money is available weekly for leisure spending?

Instead of spending his additional earnings each month, Michael chooses to open a savings account offering 3% interest, accrued monthly. Calculate the amount of money Michael will have in his savings account at the end of each of the following periods.

(a) three months

(b) six months

(c) one year

- Problem solving -
**Writeacher**, Saturday, April 18, 2009 at 4:50pmIf copy/paste is not working, you'll need to type it all in.

Copy/paste doesn't work when you're trying to enter a chart, graph, or numbered/bulleted list.

- Problem solving -
**Ed**, Sunday, April 19, 2009 at 6:22pmUpon completion of his degree, Michael is hired as a technician at the rate of $900 every two weeks (after taxes). His monthly bills, payable on the first of the month, are:

Rent $500

Electricity 80

Gas (heat) 65

Car payment 300

Car insurance 70

Fuel for car 80

Groceries 150

Credit cards 200

Given Michael’s current expenses, how much money is available weekly for leisure spending?

- Problem solving -
**Ed**, Sunday, April 19, 2009 at 6:24pmUpon completion of his degree, Michael is hired as a technician at the rate of $900 every two weeks (after taxes). His monthly bills, payable on the first of the month, are:Rent $500, Electricity 80 Gas (heat) 65 Car payment 300 Car insurance 70 Fuel for car 80 Groceries 150 Credit cards 200 Given Michael’s current expenses, how much money is available weekly for leisure spending?

- Problem solving -
**Ed**, Sunday, April 19, 2009 at 6:25pmAnswer BTW is 88.75

- Problem solving -
**Joni**, Thursday, October 1, 2009 at 10:35amAll the information is there but have to assume that he starts working at the beginning of the month…does not get his first check held back and all his bills are currently caught up. Also have to assume we are at the beginning of the month now and have all month to save for these bills before they are due.

So, assuming all those things are correct:

$500+$80+$65+$300+$70+$80+$150+$200=$1,445 total for his monthly bills

$900*2= $1,800 total he makes

$1,800(income)-$1,445(bills) =$355/mo. (extra)

$355/4(wks) = $88.75/wk. for leisure

- Problem solving -
**Anonymous**, Sunday, July 31, 2011 at 2:18pmtheres 52 weeks in ayear you need to find out how much he makes a year divide that by 12 then divide that by 4 and thats your answer its 126.25