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19 September, 02:13

Each month cameron budgets $1040 for fixed expenses $980 for living expenses and $120 for annual expenses his annual net income is $24,132. Which statement best describes his monthly budget?

A. It shows a deficit of $129

B. it shows a surpus of $129

C. It shows a deficit of $9

D. it is Balanced

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  1. 19 September, 02:26
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    Let us first find how much he is spending every year, to do this let's find his monthly expense and multiply it by 12.

    Every month Cameron spends 1040 + 980 + 120 = 2140

    To find out how much he spends yearly, multiply the monthly value by 12,

    2140 x 12 = 25680

    This value is more than his net income so he clearly has a surplus, but to check we can subtract 129 from every month to get:

    (1040 + 980 + 120 - 129) = 2011

    2011 x 12 = 24132, which shows that his budget is saving 129 surplus every month. Choice B is correct.
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