A Student Receives $1000 at the Start of Each Month $\frac { a } { b }$

question 3

Short Answer

A student receives $1000 at the start of each month from his parents. Every month the student spends 70% of all the money he has. If the only money the student receives is the money from his parents, estimate how much money the student will have at the beginning of each month after an extended period of time.
Enter just a reduced fraction of form $\frac { a } { b }$ .

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of core operations.

Sales

The total revenue earned by a company from selling goods or services over a specific period of time.

Net Income

A company's financial gain following the deduction of all expenses and taxes from its earnings.

Cost Of Goods Sold

Costs directly involved in the manufacture of products a business sells, specifically labor and materials.