Transcript Your Reward for Hard Work Your paycheck should reflect your gross

Lesson Objective
Compute the average monthly expenditure.
Content Vocabulary
recordkeeping
recordkeeping
expenditures
living
budget
expenses
sheet
expenditures
budget sheet
living expenses
budget
Mathematics for Business and Personal Finance
Keeping
Items
A
Routine
record
plan
you
for
expenses,
track
ofusing
spend
monthly
ofmoney
items
money
including
expenses.
you
inon.
aspend
way that
moneyyour
amounts
meets
onfor
during
wants
food,autility
and
period
needs.
bills,
of time,
and to
help you
pocket
expenses.
manage your money.
Mathematics for Business and Personal Finance
Sue and Chris Miller keep records of their expenditures.
They want to know how much they spend each month (on
the average). Below are their records for three months.
What is their average monthly expenditure?
Mathematics for Business and Personal Finance
Mathematics for Business and Personal Finance
Step: Compute the average monthly expenditure.
A. Find the sum of monthly expenditures.
$2,188.53 + $2,522.61 + $2,465.59 = $7,176.73
B. Divide the sum by the number of months.
Sum of Monthly Expenditures ÷ Number of
Months
$7,176.73 ÷ 3 = $2,392.24
Mathematics for Business and Personal Finance
Use the Millers’ records of monthly
expenditures to find the average monthly
amount spent for the electric bill?
Mathematics for Business and Personal Finance
Step: Compute the average monthly expenditure.
A. Find the sum of monthly expenditures.
$121.47 + $153.56 + $125.88 = $400.91
B. Divide the sum by the number of months.
Sum of Monthly Expenditures ÷ Number of Months
$400.91 ÷ 3 = $133.64
Mathematics for Business and Personal Finance
Classwork/Homework
Blue Textbook on
Chromebooks
Pg. 147:1-16
Redemption Code:
J57M-XRMV-2JOO
Mathematics for Business and Personal Finance