Question

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities.
How much money will they save monthly by the move to Oakland?

Answers

  1. Total monthly saving = $1,315

    What are savings?

    Saving is the portion of income not spent on current expenditures. In other words, it is the money set aside for future use and not spent immediately.
    Given:
                            Oakland     Los Angeles  
    Cost Housing       $565        $1200
    Food                     $545        $655
    Health Care         $245        $495
    Taxes                    $450         $625
    Other Necessities $350        $495
    Now,
    Saving in house
    = $1200 – $565
    = $635
    Saving in food
    = $655 – $545
    = $110
    Saving in health care
    = $495 – $245
    = $250
    Saving in taxes
    = $625 – $450
    = $175
    Saving in necessities
    = $495 – $350
    = $145
    Total saving = $635+$110+$250+$175+$145
                        = $1,315
    Hence, the monthly savings should be $1,315.
    Learn more about this concept here:
    #SPJ1
    The complete question is
    Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765?

    Reply

Leave a Comment