Change in Savings. Angela\'s monthly disposable income is $2560. She has monthly

Question

Change in Savings. Angela's monthly disposable income is $2560. She has monthly expenses of $2,241 (including recreational expenses of $316) and net cash flow of $319 per month. Angela makes a budget based on her personal cash flow statement. In two months, she must pay $404 for tags and taxes on her car. As a result, Angela can expect to save $3,424 in the next 12 months. Angela analyzes her personal budget and decides that she can reduce her recreational spending by $56 per month. How much will that increase her annual savings? What will her annual savings be now?

Angela's annual savings will increase by $__. (round to the nearest dollar)

Explanation / Answer

Angela's annual savings will increase by $ 672 ($56 * 12)

Angela's annual savings be now = Current Savings + extra savings

Angela's annual savings be now = 3424 + 672

Angela's annual savings be now = 4096

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