# SOLUTION: Penelope spends half her income on housing... And budgets the other half for the following: 1/4 on clothes, 1/3 on entertainment, and 1/4 on transportation. She saves the remainin

Algebra ->  Algebra  -> Finance -> SOLUTION: Penelope spends half her income on housing... And budgets the other half for the following: 1/4 on clothes, 1/3 on entertainment, and 1/4 on transportation. She saves the remainin      Log On

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 Click here to see ALL problems on Finance Question 517631: Penelope spends half her income on housing... And budgets the other half for the following: 1/4 on clothes, 1/3 on entertainment, and 1/4 on transportation. She saves the remaining \$40. What is her monthly income?Answer by lwsshak3(6513)   (Show Source): You can put this solution on YOUR website!Penelope spends half her income on housing... And budgets the other half for the following: 1/4 on clothes, 1/3 on entertainment, and 1/4 on transportation. She saves the remaining \$40. What is her monthly income? ** let x=Penelope's monthly income x/2+x/2(1/4+1/3+1/4)+40=x x/2+x/2(10/12)+40=x x/2+5x/12+40=x 6x/12+5x/12+40=x 11x/12+40=x=12x/12 12x/12-11x/12=40 x/12=40 x=480 ans: Penelope's monthly income=\$480