Answered

Join the IDNLearn.com community and get your questions answered by experts. Join our community to receive prompt and reliable responses to your questions from experienced professionals.

Celina Makau and her family want to save money for a holiday to Cape Town in December. Celina earns R12,000 a month and her husband, Zane, earns R14,300 a month. The family needs to save R2,000 per month to ensure that they have sufficient money available to cover the expenses for the trip to Cape Town.

Table 1: Income and Expenditure for the household for August 2022.
\begin{tabular}{|c|c|c|}
\hline & Income & Expenses \\
\hline Celina Salary & [tex]$R 12,000$[/tex] & \\
\hline Zane Salary & R14,300 & \\
\hline Water \& electricity & & R1,500.00 \\
\hline Rent & & R5,200.00 \\
\hline Groceries & & R4,500.00 \\
\hline Car insurance & & R1,075.00 \\
\hline Cell phone contract (2 phones) & & R1,200.00 \\
\hline Medical Aid (family) & & [tex]$R2,400.00$[/tex] \\
\hline School fees (2 children) & & [tex]$B$[/tex] \\
\hline Fuel & & [tex]$R2,350.00$[/tex] \\
\hline Entertainment & & R1,400.00 \\
\hline Car Instalment & & [tex]$R3,500.00$[/tex] \\
\hline TOTAL & A & [tex]$R25,075$[/tex] \\
\hline
\end{tabular}

Refer to the table above and answer the questions that follow.

Sagot :

GinnyAnsweridn
To address the problem step-by-step, we will follow a structured approach:

1. Calculate the total monthly income of the household.
2. Summarize and list the monthly expenses provided.
3. Determine the missing monthly expense (school fees).
4. Calculate the possible savings per month for the holiday to Cape Town.

### Step 1: Calculate the Total Monthly Income

Celina's monthly salary: R12,000
Zane's monthly salary: R14,300

Total income per month [tex]\( \textbf{A} \)[/tex] = Celina's salary + Zane's salary
[tex]\[ \text{Total Income} = 12,000 + 14,300 = 26,300 \, \text{R} \][/tex]

### Step 2: List the Monthly Expenses

The expenses are as follows:

- Water & electricity: R1,500
- Rent: R5,200
- Groceries: R4,500
- Car insurance: R875
- Cell phone contract (for 2 phones): R1,200
- Medical aid (family): R2,400
- Fuel: R2,350
- Entertainment: R1,400
- Car installment: R3,500

[tex]\[ \text{Total known expenses} = 1,500 + 5,200 + 4,500 + 875 + 1,200 + 2,400 + 2,350 + 1,400 + 3,500 = 22,925 \, \text{R} \][/tex]

### Step 3: Determine the Missing Monthly Expense (School Fees)

The total expenses recorded in the table are R25,075, which includes all expenses listed above and the school fees (denoted as [tex]\(\textbf{B}\)[/tex]). To find the school fees:

[tex]\[ \text{Total expenses} = \text{Total known expenses} + \text{School fees} \][/tex]
[tex]\[ 25,075 = 22,925 + \text{B} \][/tex]
[tex]\[ \text{B} = 25,075 - 22,925 \][/tex]
[tex]\[ \text{B} = 2,150 \, \text{R} \][/tex]

So, the monthly school fees for both children are R2,150.

### Step 4: Calculate the Possible Savings per Month

Based on the total income and the total expenses, determine how much money the family can save:

Total income per month: R26,300
Total expenses per month: R25,075

[tex]\[ \text{Savings} = \text{Total income} - \text{Total expenses} \][/tex]
[tex]\[ \text{Savings} = 26,300 - 25,075 \][/tex]
[tex]\[ \text{Savings} = 1,225 \, \text{R} \][/tex]

Since they need to save R2,000 per month for the holiday, they currently have a shortfall of:

[tex]\[ \text{Shortfall} = 2,000 - 1,225 \][/tex]
[tex]\[ \text{Shortfall} = 775 \, \text{R} \][/tex]

This means the family must either reduce some of their monthly expenses by R775 or increase their income/earn extra by R775 each month to achieve their savings goal for the holiday to Cape Town in December.
Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. For trustworthy answers, rely on IDNLearn.com. Thanks for visiting, and we look forward to assisting you again.