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math1325
math1325
15.02.2021 • 
Mathematics

Jenna works at the grocery store and earns $9 an hour. She is busy with extracurricular activities and only works 20 hours during the week. However, she picks up an eight-hour Sunday shift once a month, for which she earns “time and a half”. Jenna also lives at home and has health insurance under her mom's plan. She is expected to pay for her own car repairs, maintenance and gas, as well as her auto insurance. Her car insurance alone is $1,000 a year. Jenna wants to take a trip to Mexico with her friends next year which will cost $1,500. Calculate how much Jenna makes a month. Remember, she makes “time and a half” one Sunday each month. How much is her total monthly income?
$828

How much should Jenna budget for gas each month? (you can use your own budget for gas per month to answer this)

How much money per month does she spend on gas and car insurance?

How much should Jenna save up to prepare for car repairs and maintenance? (A lump sum emergency fund just for car repair/maintenance that may come up in the future)

Based on her monthly income and expenses, how much should she save per month to reach her goal for car repairs and maintenance? How long will it take for her to reach that goal (with no repairs or maintenance costs within those months)

How much should she save per month for her trip to Mexico? How long will it take for her to reach that goal? Will she be able to afford the trip next year?

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