Larry used the Quantitative Reasoning Process to build a budget while he is going to college. He worked hard over the summer and saved $2,777 to live on during the next two semesters of school. Larry will receive a scholarship each semester for $820.2. If he plans to use up all of his savings while at school, how much money can Larry spend each month, on average, for things like groceries, entertainment, and miscellaneous items? Assume two semesters equals 8 months total. Also assume Larry has no other expenses than what he has listed here. Scholarship for each Semester: $820.2 Tuition & Books Cost per Semester: $2,100 Housing Cost for a two-semester Contract: $1,025 If he has money left, what is the average monthly amount Larry can afford to spend each month? If he has overspent, what is the average monthly amount Larry would be in debt each month? (Indicate this amount with a negative sign)
Larry used the Quantitative Reasoning Process to build a budget while he is going to college. He worked hard over the summer and saved $2,777 to live on during the next two semesters of school. Larry will receive a scholarship each semester for $820.2. If he plans to use up all of his savings while at school, how much money can Larry spend each month, on average, for things like groceries, entertainment, and miscellaneous items?
Assume two semesters equals 8 months total. Also assume Larry has no other expenses than what he has listed here.
Scholarship for each Semester: $820.2
Tuition & Books Cost per Semester: $2,100
Housing Cost for a two-semester Contract: $1,025
If he has money left, what is the average monthly amount Larry can afford to spend each month?
If he has overspent, what is the average monthly amount Larry would be in debt each month?
(Indicate this amount with a negative sign)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
