Kimberly12184idn
Answered

Get detailed and accurate responses to your questions on IDNLearn.com. Discover prompt and accurate responses from our experts, ensuring you get the information you need quickly.

Tristan has found a good job as a bookkeeping clerk after finishing his associate's degree at the local community college. He is making a beginning annual salary of [tex]$\$[/tex]19,760[tex]$. How can this increased income affect his financial decisions?

Compare his previous budget when he worked part-time while finishing his degree with his current budget after getting a full-time job.

\begin{tabular}{|l|r|r|}
\hline
\textbf{Monthly Budget} & \textbf{Previous Budget} & \textbf{Current Budget} \\
\hline
\textbf{Income} & $[/tex]\[tex]$786$[/tex] & [tex]$\$[/tex]1646[tex]$ \\
\hline
\textbf{Expenses} & $[/tex]\[tex]$300$[/tex] & [tex]$\$[/tex]600[tex]$ \\
\hline
Rent & $[/tex]\[tex]$60$[/tex] & [tex]$\$[/tex]120[tex]$ \\
Utilities & $[/tex]\[tex]$130$[/tex] & [tex]$\$[/tex]200[tex]$ \\
Groceries & $[/tex]\[tex]$120$[/tex] & [tex]$\$[/tex]350[tex]$ \\
Savings & $[/tex]\[tex]$150$[/tex] & [tex]$\$[/tex]150[tex]$ \\
Car Expenses & $[/tex]\[tex]$20$[/tex] & [tex]$\$[/tex]120[tex]$ \\
Entertainment & $[/tex]\[tex]$6$[/tex] & [tex]$\$[/tex]106$ \\
\hline
\textbf{Net Income} & & \\
\hline
\end{tabular}

Tristan is spending too much money on groceries and entertainment.

Sagot :

GinnyAnsweridn
To analyze how Tristan's increased income affects his financial decisions, let's compare his previous budget when he worked part-time with his current budget after getting a full-time job.

### Previous Budget
- Income: \[tex]$786 - Expenses: - Rent: \$[/tex]300
- Utilities: \[tex]$60 - Groceries: \$[/tex]130
- Savings: \[tex]$120 - Car Expenses: \$[/tex]150
- Entertainment: \[tex]$20 - Others: \$[/tex]6

### Calculation of Previous Expenses
Adding up all the previous expenses:

[tex]\[ 300 + 60 + 130 + 120 + 150 + 20 + 6 = 786 \][/tex]

Thus, his total previous expenses are \[tex]$786. ### Calculation of Previous Net Income Tristan's net income is calculated as: \[ \text{Net Income} = \text{Income} - \text{Expenses} \] For the previous budget: \[ 786 - 786 = 0 \] So, his previous net income was \$[/tex]0.

### Current Budget
- Income: \[tex]$1646 - Expenses: - Rent: \$[/tex]600
- Utilities: \[tex]$120 - Groceries: \$[/tex]200
- Savings: \[tex]$350 - Car Expenses: \$[/tex]150
- Entertainment: \[tex]$120 - Others: \$[/tex]106

### Calculation of Current Expenses
Adding up all the current expenses:

[tex]\[ 600 + 120 + 200 + 350 + 150 + 120 + 106 = 1646 \][/tex]

Thus, his total current expenses are \[tex]$1646. ### Calculation of Current Net Income For the current budget: \[ 1646 - 1646 = 0 \] So, his current net income is \$[/tex]0.

### Increment in Expenses
To determine how much more Tristan is spending now compared to before:

- Groceries:
- Previous: \[tex]$130 - Current: \$[/tex]350
- Increment: [tex]\(350 - 130 = 220\)[/tex]

- Entertainment:
- Previous: \[tex]$6 - Current: \$[/tex]106
- Increment: [tex]\(106 - 6 = 100\)[/tex]

### Conclusion
Tristan's increased income has resulted in a corresponding increase in his expenses, effectively leaving his net income unchanged at zero in both periods. However, his spending on groceries and entertainment has notably increased by \[tex]$220 and \$[/tex]100, respectively. This suggests that Tristan is allowing his higher income to significantly impact his spending habits in these categories.
Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. IDNLearn.com provides the best answers to your questions. Thank you for visiting, and come back soon for more helpful information.