Math Problem Statement

Trying to prepare a budget, Franklin has done research and found that he spends an average of $290 on his phone/internet/cable service, $206 on his electric bill, and $101 on his health insurance premium. If he earns $1900 per month, estimate the amount of money he will have after paying these bills each month.

Solution

To estimate how much money Franklin will have left after paying his bills each month, we need to subtract the total expenses from his monthly income.

Step 1: Calculate Total Monthly Expenses

Add up the expenses for phone/internet/cable, electric bill, and health insurance:

Total Expenses=290+206+101=597 dollars\text{Total Expenses} = 290 + 206 + 101 = 597 \text{ dollars}

Step 2: Subtract Total Expenses from Monthly Income

Subtract the total expenses from Franklin's monthly income:

Remaining Money=1900597=1303 dollars\text{Remaining Money} = 1900 - 597 = 1303 \text{ dollars}

Final Answer

Franklin will have approximately $1,303 left after paying his bills each month.

Would you like more details or have any questions?

Here are 5 related questions:

  1. What percentage of Franklin's income is spent on each expense?
  2. How much would Franklin save in a year with this monthly surplus?
  3. If Franklin's income increased by 10%, how much would he have left after expenses?
  4. What would be Franklin's situation if one of his bills increased by $50?
  5. How would Franklin's budget change if he reduced his phone/internet/cable service by 20%?

Tip: Keeping track of small expenses can help in managing a budget more effectively.