Muriel has kept track of her income and expenses for the week in the spreadsheet below. How much was Muriel's restaurant bill?
| | A | B | C |
|---|-------------------|------------|-----------|
| 1 | Transaction | Amount | Total |
| 2 | Beginning balance | | $380.29 |
| 3 | Interest income | $18.10 | |
| 4 | Groceries | -$61.39 | |
| 5 | Restaurant bill | | |
| 6 | Paycheck | $476.24 | |
| 7 | Gas | -$35.00 | |
| 8 | Ending balance | | $735.69 |
A. $17.66
B. $42.55
C. $6.35
D. $112.55
Answer (2)
Muriel's restaurant bill was calculated by setting up an equation based on her total income and expenses. After simplification, it was determined that the restaurant bill amounts to $42.55. The correct option is B. $42.55.
;
Set up an equation: Beginning balance + Income - Expenses = Ending balance.
Substitute the given values: $380.29 + $18.10 - $61.39 + x + $476.24 - $35.00 = $735.69.
Simplify the equation: $681.85 + x = $735.69.
Solve for x: $x = 42.55. T h ere f ore , t h eres t a u r an t bi llw a s \boxed{$42.55}.
Explanation
Problem Analysis Let's analyze the problem. We need to find the amount of Muriel's restaurant bill. We know her beginning balance, interest income, expenses (groceries and gas), paycheck, and ending balance. We can set up an equation to represent the change in her balance and solve for the unknown restaurant bill amount.
Setting up the Equation Let's set up the equation: Beginning balance + Interest income - Groceries + Restaurant bill + Paycheck - Gas = Ending balance We can represent the restaurant bill as 'x'. So the equation becomes: $380.29 + $18.10 - $61.39 + x + $476.24 - $35.00 = $735.69
Simplifying the Equation Now, let's simplify the equation by combining the known values: $380.29 + $18.10 - $61.39 + $476.24 - $35.00 = $735.69 - x $778.24 - $96.39 = $735.69 - x $778.24 - 96.39 = 681.85 So, $681.85 + x = $735.69
Solving for the Restaurant Bill Now, we solve for x: x = $735.69 - $681.85 x = $42.55
Examples
Understanding personal finances is crucial for managing your money effectively. This problem demonstrates how to track income and expenses to determine where your money is going. For example, if you are saving for a new gadget, tracking your expenses like Muriel helps you identify areas where you can cut back, such as reducing restaurant visits or finding cheaper gas options. By carefully monitoring your finances, you can achieve your savings goals more efficiently and make informed financial decisions. This practice is a cornerstone of financial literacy and responsible money management.
