Tyrell has worked his way up from sales associate to department supervisor for a large suburban department
Question:
Tyrell has worked his way up from sales associate to department supervisor for a large suburban department store. Now he has been offered a higher position in Atlanta. Currently, Tyrell earns about $20,500 annually, which covers the cost of food housing, transportation, and other living expenses. With the new job, his salary would increase 20 percent, but the cost of living in Atlanta is much higher than it is in the suburbs. By doing some research, he found that the rent for a one-bedroom apartment averages $850 per month, and the round trip train ride to work will cost 4.50 per day. Food will probably cost $65 per week. Assuming Tyrell works five days a week and 52 weeks a year, calculate the total yearly living expense if he moved to Atlanta.
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk