Subjects personal finance

Monthly Savings C94Cd3

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1. **State the problem:** You have a monthly income of $3000. You budgeted certain amounts for expenses and savings, but actual spending differs. We need to find out what happened to your savings last month. 2. **Given data:** - Income = $3000 - Budgeted savings = $800 - Actual expenses: - House Payment = $1269.97 - Utilities = $382.33 - Car Payment = $224.68 - Groceries = $174.96 - Entertainment = $55.75 3. **Calculate total actual expenses excluding savings:** $$1269.97 + 382.33 + 224.68 + 174.96 + 55.75 = 2107.69$$ 4. **Calculate actual savings:** Since total income is $3000 and total actual expenses plus savings must equal $3000, Let actual savings be $S$. $$2107.69 + S = 3000$$ 5. **Solve for $S$:** $$S = 3000 - 2107.69$$ $$S = 892.31$$ 6. **Interpretation:** Your actual savings last month was $892.31$, which is greater than the budgeted $800$. **Final conclusion:** Your savings last month was greater than $800$.