Help Me Mr Thompson!

I'll do problems 2 through 6 to get you started.

Problem 1

You have the correct answer. You add the take home pay of his first job (504.64) to the amount he earns on his second job (40) to get 541.64 as his net monthly income.

Problem 2

Add up any dollar amount that's leaving his pocket. Only focus on expenses that occur monthly. So we will ignore the one time payment of getting that theme park ticket, and we'll also ignore any gifts he buys.

In the second paragraph of the info you're given, all of the expenses we need are here. He has car insurance (110), gas and maintenance (65), and a cell plan (30). In total, his monthly expenses are 110+65+30 = 205 dollars per month.

Problem 3

Subtract the net monthly income (problem 1) and the expenses (problem 2) to get the amount of discretionary spending he has

541.64 - 205 = 336.64

This value is a positive number, so that means he has money to do whatever he wants with it such as buying that park ticket or buying those gifts.

Problem 4

His short-term goals are to buy the Six Flags ticket, and buy gifts for his friends and family. He also wants to buy an e-reader for himself.

These are all short-term goals as they are in a relatively short time window of less than a year.

Add up those values to get

135+200+80 = 415

So his short-term goals will cost a total of $415

Problem 5

His long-term goals are saving up for college to pay for tuition and books. As the instructions say, long-term goals are ones that you need more than a year in advance to plan for. This is because the expense is much greater compared to those various short-term goal items.

Problem 6

Subtract 135 from the net monthly income you calculated in problem 1

541.64 - 135 = 406.64

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step-by-step explanation:

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