How much money can marvin spend each month

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Reference no: EM133910891

Problem

Marvin used the Quantitative Reasoning Process to build a budget while he is going to college. He worked hard over the summer and saved $3,212.65 to live on during the next two semesters of school. Marvin will receive a scholarship each semester for $959.90. If he plans to use up all of his savings while at school, how much money can Marvin spend each month, on average, for things like groceries, entertainment, and miscellaneous items? Get the instant assignment help.

Assume two semesters equals 8 months total. Also assume Marvin has no other expenses than what he has listed here.

Scholarship for each Semester: $959.90

Tuition & Books Cost per Semester: $2,200
Housing Cost for a two-semester Contract: $1,025

If he has money left, what is the average monthly amount Marvin can afford to spend each month?

If he has overspent, what is the average monthly amount Marvin would be in debt each month?

Reference no: EM133910891

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