Carol is working in a dental lab, creating dentures and bridges. Monthly her take home pay is $2,816 (based on $22 per hour minus payroll taxes). She also receives $320 per month in child support for her one daughter. Her monthly expenses are rent at $700, car payments at $229, student loan payments at $250, car insurance at $119, health insurance at $225, utilities at $80, clothing at $75, entertainment at $200, food at $275, and gasoline at $275. Create Carol’s budget in a table, compare the total income to total expenses, and determine how much excess income per month she has or how much she falls short by each month.
OpenStax Contemporary Mathematics, 6.5 Making a Personal Budget, exercise 3