Question

whs mathematics of personal finance t1 basic budgeting identifying spreadsheet formulas aishas spreadsheet: 1 item 2 part - time job 3 weekly allowance 4 baby - sitting 5 total income 6 rent 7 groceries 8 phone bill 9 entertainment 10 total expenses 11 net savings/deficit amount ($) 500 80 60 630 400 150 50 40 600 30 formula used =sum(b3:b5) =sum(b7:b9) =sum(b6 - b11) consider aishas budget spreadsheet and the formulas used to get the total income, total expenses, and net savings/deficit. which of aishas formulas to find the values in the corresponding spreadsheet cell is incorrect? there are no errors. =sum(b7:b9) =b6 - b11 =sum(b3:b5)

Explanation:

Step1: Analyze total income formula

Total income is the sum of part - time job, weekly allowance and babysitting. So the formula should be =sum(B3:B5) which is correct as per the spreadsheet.

Step2: Analyze total expenses formula

Total expenses are the sum of phone bill, groceries, rent and entertainment. The formula =sum(B7:B9) is correct as per the spreadsheet.

Step3: Analyze net savings/deficit formula

Net savings/deficit is calculated as total income minus total expenses. The formula =sum(B6 - B11) is incorrect. It should be =B6 - B11.

Answer:

The incorrect formula is =sum(B6 - B11). The correct formula for net savings/deficit should be =B6 - B11.