Calculate Savings from Family Income Expenditures

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Understanding how a family allocates its income can be an eye-opener, especially for nursing students considering financial literacy. From mortgages to groceries, every expense counts towards what you can save. Breaking down percentages helps in budgeting wisely—because who doesn’t want to stretch their dollars further?

Cracking the TEAS Nursing Entrance Exam: Understanding Family Expenses through Fractions

Hey there, future nurses! As you gear up for your journey into the world of nursing, you’ll encounter various math problems related to household finances, among many other things. You’re probably asking yourself, "Why does saving matter in nursing?" Well, let’s connect the dots back to you and your future patients. When you understand family budgets, you can relate better to your patients’ economic challenges and help them navigate health care costs. That said, let’s unravel a math problem that’s not only relevant to your TEAS Nursing Entrance Exam but also mirrors real-life financial situations.

Breaking Down the Problem

Let’s imagine a typical family budgeting routine. They need to divide their total income into various expenditures—mortgages, car payments, groceries, and general expenses. This particular pie of life isn’t always easy to cut, is it? The family decides to spend their total income as follows:

One-fourth (1/4) goes towards the mortgage.
One-eighth (1/8) is earmarked for car payments.
Another one-eighth (1/8) is set aside for groceries.
Two-fifths (2/5) caters to other miscellaneous expenses.

You’re probably thinking, “What about savings?” Hold that thought! To lay the groundwork, we first need to calculate the total expenditure.

Aligning Those Fractions

Let’s tally these expenses up. To work with fractions effectively, we need to find a common denominator. So, if we look at our fractions—1/4, 1/8, and 2/5—the least common multiple (LCM) of 4, 8, and 5 is 40. With that in mind, let’s convert our fractions:

The mortgage (1/4) translates to 10/40.
For car payments (1/8), you convert it to 5/40.
Groceries (also 1/8) become another 5/40.
Now, for our miscellaneous expenses (2/5), that turns into 16/40.

When you sum this all up, it looks like this:

Mortgage: 10/40
Car Payments: 5/40
Groceries: 5/40
Other Expenses: 16/40

When you toss all those fractions together, you get:

10/40 + 5/40 + 5/40 + 16/40 = 36/40

Right? So, what does that mean in the grand scheme of family finances?

Putting It Together: What About Savings?

Now, here’s the kicker: we’re looking for what fraction of the family’s whole income goes towards savings. If they've spent 36 out of 40 parts, that leaves them with (40-36) out of 40 for savings.

That’ll be 4/40, which simplifies down to… drumroll, please… 1/10! So, your answer is (B) 1/10.

Why Such Math Matters

Now, let’s take a breath amid these numbers. At first glance, it might seem like just another math problem to solve and forget. But consider this: understanding family budgets can help you as a future nurse address the economic aspects of healthcare. Many patients struggle with affording prescriptions, necessary treatments, or follow-ups, and these concerns tie directly into their daily financial management.

When you can grasp budget constraints through a mathematical lens, you hone your ability to offer practical advice about health care costs. It’s about more than just numbers; it’s about compassion, connecting with patients, and understanding their seven-days-a-week struggles.

Wrapping It Up

While we may have taken a detour through family finances and fractions, think of it as a bridge toward essential topics you’ll encounter on the TEAS Nursing Exam. The world of nursing isn’t merely a clinical one; it’s intertwined with everyday life situations just like these.

And as you prepare to get your feet wet in the fascinating yet demanding field of nursing, remember: you’re learning not just for exams but for real-world applications that will impact your future patients. So embrace these math challenges as stepping stones for your clinical competence.

There you have it! A math problem that resonates beyond the test, revealing the complexities of budgeting, saving, and ultimately, caring. Go ahead and tackle those fractions boldly, because each problem solved is a step toward your calling as a caregiver. Happy studying!