24.09.2022


Your answer should include:


Loans for property

Car loans or lines of credit cards


Student loans


Other loans

Total monthly debt payment.

. 0

Step-by-step answer

09.02.2023, solved by verified expert
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Answer:

Monthly debt payment = $5495.83
average monthly amount = $14962.5

Note: Here some amounts are given as weekly and some as yearly. We can't add all amounts directly. For monthly payment we have to convert all the respective amounts into monthly payment first then only we can add. 

Step-by-step explanation:

Monthly debt payment = car payment + rent + Telivision cable/satellite + intenet + cell phones + car insurance + gas + groceries + entertainment + clothing + life insurance + student loan payment 

=750+1900+150+75+150+1450/12+400+100*4+50*4+200+50+1100= $5495.83

Annual Gross payment = $89500

monthly gross payment = 89500/12 = $7458.33

monthly savings = $7458.33 - $5495.83 = $1962.5

given that Johnsons have $13000 in savings. 

Thus, average monthly amount = $13000 + $1962.5 = $14962.5

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