You buy a computer game for $50 using your credit card, receive $90 in wages from your casual job and you receive $20 in interest on a savings account. Calculate the overall effect of these three events on your PROFIT.
Question
You buy a computer game for 90 in wages from your casual job and you receive $20 in interest on a savings account. Calculate the overall effect of these three events on your PROFIT.
Solution
To calculate the overall effect of these three events on your profit, you need to add up all the income you received and subtract any expenses.
Step 1: Add up all the income you received. You received 20 in interest on a savings account. So, 20 (interest) = $110
Step 2: Subtract any expenses. You spent 110 (total income) - 60
Therefore, the overall effect of these three events on your profit is $60.
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