Question

If Jo's misc. expenses rise by 1/3 and she starts paying for a phone that is $49 per month, how much less will she have towards next years holiday it all other expenses and her wage and bonus stay the same?​

Answer 1

The amount that Jo will have less towards next years holiday, if all other expenses, wage and bonus stay the same is $146.88.

Original payment for the phone

The initial amout that Jo paid for the phone is calculated as follows;

amount per month = ($49) / (1 + ¹/₃)

amount per month = ($49) / (1.333)

amount per month = $36.76

For 1 year (12 months), = $36.76 x 12 = $441.12

Amount paid now

$49 x 12 = $588

Amount she will have less towards next year

= $588 -  $441.12

= $146.88

Thus, the amount that Jo will have less towards next years holiday, if all other expenses, wage and bonus stay the same is $146.88.

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