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Nick is evaluating his current financial position by totaling his monthly cash inflows and outflows. His cash inflows each month are $80 in allowance and $650 in wages from his part-time job working at the Publix. His cash outflows each month are $210 for his car payment, $180 for car insurance, $175 in entertainment, and $120 for gas and food. How much, ifanything, does Nick have leftover each month?

Nick is evaluating his current financial position by totaling his monthly cash inflows and outflows His cash inflows each month are 80 in allowance and 650 in w class=

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Step 1

Find his total cash inflow.

[tex]\text{Allowance }+\text{ wages from his part-time}[/tex][tex]\begin{gathered} \text{Allowance}=\text{ \$80} \\ \text{Wages from his part-time=\$650} \end{gathered}[/tex]

[tex]\begin{gathered} \text{Total cash inflow = Allowance + wages from his part-time} \\ \text{Total cash inflow= 80 + 650}=\text{ \$730} \end{gathered}[/tex]

Step 2

Find the total out flow

[tex]Car\text{ payment + car insurance + entertainment + cash for gas and food.}[/tex][tex]210+180+175+120\text{ = \$685}[/tex]

Step 3

Find out if Nick has any leftovers each month.

[tex]\begin{gathered} \text{Total inflow - Total outflow} \\ \text{\$}730-\text{\$}685\text{ = \$45} \end{gathered}[/tex]

Hence, Nick's leftover each month = $45

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