Answer :
To determine how Jacob can modify his budget to help him make the \[tex]$600 monthly rental payment, we need to consider the feasibility of each option mentioned in the problem.
### Step-by-Step Analysis:
1. Initial Expenses Breakdown:
- Wages: \$[/tex]1680
- Expenses (other than rent): \[tex]$200 - Rent (initial): \$[/tex]75
- Food: \[tex]$700 - Clothes: \$[/tex]400
- Savings: \[tex]$300 - Recreation: \$[/tex]5
2. Total Current Expenses Calculation:
Total Current Expenses = \[tex]$200 + \$[/tex]75 + \[tex]$700 + \$[/tex]400 + \[tex]$300 + \$[/tex]5 = \[tex]$1680 Jacob's total current expenses add up to his total wages, so he has no surplus or deficit. 3. New Rent Requirement: - New Rent: \$[/tex]600
4. Required Adjustment/Increase in Rent Payment:
Required Rent Increase = New Rent - Initial Rent = \[tex]$600 - \$[/tex]75 = \[tex]$525 5. Evaluation of Each Option: Option a: Spend less on food and clothes to make the \$[/tex]600 monthly rental payment.
- Savings by reducing food and clothes: \[tex]$700 (food) + \$[/tex]400 (clothes) = \[tex]$1100 - After accounting for the required rent increase, is this sufficient? - Adjustment needed: \$[/tex]1100 - \[tex]$525 = \$[/tex]575
- This means [tex]\( \$575 \geq 0 \)[/tex], so it is indeed feasible.
Option b: Spend less on recreation and reduce savings to make the \[tex]$600 monthly rental payment. - Savings by reducing recreation and savings: \$[/tex]5 (recreation) + \[tex]$300 (savings) = \$[/tex]305
- After accounting for the required rent increase, is this sufficient?
- Adjustment needed: \[tex]$305 - \$[/tex]525 = -\[tex]$220 - This means \( -\$[/tex]220 < 0 \), so this is not feasible.
Option c: No modifications to his budget would be necessary as long as he takes on a part-time job on the weekends to increase his income.
- Additional income must cover at least the \[tex]$525 rent increase. - Given Jacob can secure part-time work that covers or exceeds this amount, this is feasible. Option d: Spend less on food and recreation to make the \$[/tex]600 monthly rental payment.
- Savings by reducing food and recreation: \[tex]$700 (food) + \$[/tex]5 (recreation) = \[tex]$705 - After accounting for the required rent increase, is this sufficient? - Adjustment needed: \$[/tex]705 - \[tex]$525 = \$[/tex]180
- This means [tex]\( \$180 \geq 0 \)[/tex], so it is indeed feasible.
### Conclusion:
Based on above feasibility check for each option:
- Option a: Feasible
- Option b: Not feasible
- Option c: Feasible (with additional income from part-time job)
- Option d: Feasible
Therefore, the feasible options for Jacob to make the \$600 monthly rental payment are: Option a, Option c, and Option d.
- Expenses (other than rent): \[tex]$200 - Rent (initial): \$[/tex]75
- Food: \[tex]$700 - Clothes: \$[/tex]400
- Savings: \[tex]$300 - Recreation: \$[/tex]5
2. Total Current Expenses Calculation:
Total Current Expenses = \[tex]$200 + \$[/tex]75 + \[tex]$700 + \$[/tex]400 + \[tex]$300 + \$[/tex]5 = \[tex]$1680 Jacob's total current expenses add up to his total wages, so he has no surplus or deficit. 3. New Rent Requirement: - New Rent: \$[/tex]600
4. Required Adjustment/Increase in Rent Payment:
Required Rent Increase = New Rent - Initial Rent = \[tex]$600 - \$[/tex]75 = \[tex]$525 5. Evaluation of Each Option: Option a: Spend less on food and clothes to make the \$[/tex]600 monthly rental payment.
- Savings by reducing food and clothes: \[tex]$700 (food) + \$[/tex]400 (clothes) = \[tex]$1100 - After accounting for the required rent increase, is this sufficient? - Adjustment needed: \$[/tex]1100 - \[tex]$525 = \$[/tex]575
- This means [tex]\( \$575 \geq 0 \)[/tex], so it is indeed feasible.
Option b: Spend less on recreation and reduce savings to make the \[tex]$600 monthly rental payment. - Savings by reducing recreation and savings: \$[/tex]5 (recreation) + \[tex]$300 (savings) = \$[/tex]305
- After accounting for the required rent increase, is this sufficient?
- Adjustment needed: \[tex]$305 - \$[/tex]525 = -\[tex]$220 - This means \( -\$[/tex]220 < 0 \), so this is not feasible.
Option c: No modifications to his budget would be necessary as long as he takes on a part-time job on the weekends to increase his income.
- Additional income must cover at least the \[tex]$525 rent increase. - Given Jacob can secure part-time work that covers or exceeds this amount, this is feasible. Option d: Spend less on food and recreation to make the \$[/tex]600 monthly rental payment.
- Savings by reducing food and recreation: \[tex]$700 (food) + \$[/tex]5 (recreation) = \[tex]$705 - After accounting for the required rent increase, is this sufficient? - Adjustment needed: \$[/tex]705 - \[tex]$525 = \$[/tex]180
- This means [tex]\( \$180 \geq 0 \)[/tex], so it is indeed feasible.
### Conclusion:
Based on above feasibility check for each option:
- Option a: Feasible
- Option b: Not feasible
- Option c: Feasible (with additional income from part-time job)
- Option d: Feasible
Therefore, the feasible options for Jacob to make the \$600 monthly rental payment are: Option a, Option c, and Option d.
