Melinda Dang

Algebra 3-4
June 17, 2008

Budget Graphing Problem

1. Taxes
a. 20% of $30,142.92
$30,142.92 X .2 = $6,028.584
$30,142.92 - $6,028.584
= $24114.37/12
=$2009.53 (Monthly)
b. Savings
10% of $30,142.92
Technically its 10% of $24,114.37 ( - Taxes)
@24,114.37 X .10 = $2411.437
= $21,702.933/12
=$1808.58 (Monthly)
2. & 3. Housing
Arbor Heights Monthly Rent = $550.00
Water & Electricity: $120.00
Total: $670.00/Month
First Month: ($300.00 Deposit)
=$970.00
4. Car
I = prt
P = $4,000.00 (Price of Car)
Interest Rate: .09 (9%)
Time = 5 years
I = 4,000 (.09)(5)
I = $1,800.00
$1,800.00 + $4,000.00
= $5,800.00
Monthly Payment:
$5,800.00/12 (Months)
= $96.67
5. Cost of Insurance
Mid-Size: $1,400.00
Monthly Payment: $1,400.00/12
= $16.67
6. Gasoline = $50.00
$96.67 + $116.67 + $50.00
(Car) (Insurance) (Gas)
Total: $263.34
7. Food: $150.00/Month
= $800.00/1 Year
8. Cell Phone: $40/1Month
= $480.00 / 1 Year
9. $21,702.933/12
=$1,808.57 Per Each Month
Total of Rent: $550.00/Month ($850.00/1st Month)
Utilities: $150.00
Car: $263.34
Food: $150.00
Cell Phone: $40/Month
First Month (w/Deposit): Monthly:
$1,423.34 $1,123.34
$1,808.57 - $1,423.34 $1,808.57 - $1,123.34
= $385.23 remaining = $685.23 remaining

10.

Monthly Costs
Amount in Monthly Costs

2500

2000

1500

1000

500

0
Taxes Savings Rent Car Food Cell Other Utilities
Phone
Expense Categories

11. Ratios
Taxes: 2009.53 /30142.92 = 15:1
Savings: 1808.58/24114.37 = 13:1
Rent: 550.00/24114.37 = 43:1
Car: 236.34/24114.37 = 102:1
Food: 150.00/24114.37 = 161:1
Cell Phone: 40.00/24114.37 = 603:1
Utilities: $150.00/24114.37 =160 :1
Other: 685.23/24114.37 = 35:1

12. Percents
Taxes: 2009.53 /30142.92 = (6.7)7%
Savings: 1808.58/24114.37 = (7.5) 8%
Rent: 550.00/24114.37 = (2.2)2%
Car: 236.34/24114.37 = (.9) 2%
Food: 150.00/24114.37 = (.6) 1%
Cell Phone: 40.00/24114.37 = (1.6) 2%
Utilities: $150.00/24114.37= (.6) 1%
Other: 685.23/24114.37 = (2.8) 3%
13.

Monthly Costs

3%
1% 12% Taxes

3% Savings
35% Rent
5%
Car

10% Food
Cell Phone
Other
Utilities
31%

14. See Above

15.
a. I learned how to calculate the total cost of buying a car. From problem four, the
formula “I= prt” was a formula that is used to help you calculate your monthly car
payment. By doing this I’m able to find the monthly payment of a loan for any
increment of time. I also learned how to use ratios to help me graph a circle
graph. From the work from problems eleven to thirteen, I used ratios to create
percents of the monthly income and turn it into a circle graph. Lastly, I also
learned about the basics in calculating your own necessities when you live on
your own. For example, some people will forget to calculate their food and their
telephone into their calculations when living on their own and after this project, I
know that everything is included.
b. From this project I was surprised that out of monthly costs, taxes are that
largest amount that you have to pay. Out of all the monthly costs, the monthly
costs of taxes were the greatest out of all the costs. Taxes were $2009.53 each
month with Savings being $1808.58 in each month. I would have expected either
auto or the utilities costs to be hire than taxes but they weren’t higher. The
Utilities cost about