This is for business essentials.

Question

Gabe makes a salary of $850.00 (net pay) per week (assume there are 4 weeks per month). He has a $300.00 monthly car payment on his Prius with big mud tires, pays $100/ month for insurance, has a monthly student loan for $75.00, transfers 10% of every paycheck into his savings account (this is an expense). Gabe also pays $900.00 a month to lease his condo which includes his water, trash and internet service. His electric bill the first month is $240.65; the second month, $260.71; the third month, $237.18. He also has a car repair that costs $185.37, a dentist bill for $150.00 and receives a birthday check from his Aunt Matilda for $200.00. Gabe went to the grocery store 4 times, at the cost of $120.21, $135.65, $115.14, $150.94. He also took his girlfriend out to dinner that cost $45.23 and a movie (and popcorn) for $30.00. What is Gabe’s net profit/loss for this 3-month period?

Answer 1

I put this in a spreadsheet. I calculated 10400 in income from work and his gift and -6051.08 in expenses from car payments, insurance, student loan, savings, rent, electric, car repair, dentist, groceries and his dates. Adding these together, the net would be $4348.92