Use the following flowchart to determine if the family qualifies for bankruptcy. their yearly income is 58,000- the median annual income is $47,778 and the family has a monthly expenses of $4,600.

The family does not qualify for bankruptcy

Step-by-step explanation:

Expenses=$4,600

Yearly income=$58,000

Monthly income=Yearly income / 12

Monthly income=$58,000/12

Monthly income=$4,833.333333

Rounded to the nearest cent:

Monthly income=$4,833.33

Flowchart

                                                           No

                                                                  Mean test. Calculate

Income=$58,000<$47,778=Median  →   (Monthly income - expenses)*60

                                              Income       ($4,833.33-$4,600)*60

                                                                 ($233.33)*60

                                                                  $13,999.80

                                                                  Call this number X.           No

                                                                  X=$13.999.80 < $10,000   →  Do not

                                                                                                                   qualify

The family does not qualify for bankruptcy

Do not qualify

Step-by-step explanation:

Yearly income = $58000

Monthly income = = $4833.33

Median annual income = $47778

Monthly expenses = $4600

Income < Median Income ? 58000 < 47778 -> No

x = (Monthly income - expenses) * 60

  = (4833.33 - 4600) * 60

  = 233.33 * 60

  = 13999.8

x < 10000 ? 13999.8 < 10000 -> No

So, Do not qualify

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step-by-step explanation:

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