1. Carl is a student at a college. He has a part-time job with take-home pay of $525 every two weeks. He has received a scholarship of $4100 this year. a) Use the data provided to design a monthly budget for Carl. Show your calculations for his income and expenses. Identify each expense as fixed or variable. Expense Tuition $3700/year Rent and utilities $650/month Food Amount Monthly Fixed or Variable Income Amount Monthly Part-Time Job $525 biweekly Scholarship $4100/year $70/week Cell phone $40/month Clothing $90 biweekly Miscellaneous $140 biweekly Is Carl earning enough to cover his expenses? If not, suggest how he could balance the b) budget.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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1. Carl is a student at a college. He has a part-time job with take-home pay of $525 every two
weeks. He has received a scholarship of $4100 this year.
a) Use the data provided to design a monthly budget for Carl. Show your calculations for
his income and expenses. Identify each expense as fixed or variable.
Expense
Tuition
$3700/year
Rent and
utilities
$650/month
Food
Amount
Monthly
Fixed or
Variable
Income
Amount Monthly
Part-Time Job
$525 biweekly
Scholarship
$4100/year
$70/week
Cell phone
$40/month
Clothing
$90 biweekly
Miscellaneous
$140 biweekly
Is Carl earning enough to cover his expenses? If not, suggest how he could balance the
b)
budget.
Transcribed Image Text:1. Carl is a student at a college. He has a part-time job with take-home pay of $525 every two weeks. He has received a scholarship of $4100 this year. a) Use the data provided to design a monthly budget for Carl. Show your calculations for his income and expenses. Identify each expense as fixed or variable. Expense Tuition $3700/year Rent and utilities $650/month Food Amount Monthly Fixed or Variable Income Amount Monthly Part-Time Job $525 biweekly Scholarship $4100/year $70/week Cell phone $40/month Clothing $90 biweekly Miscellaneous $140 biweekly Is Carl earning enough to cover his expenses? If not, suggest how he could balance the b) budget.
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