Michael carefully tracks his money. His records indicate he spent $4000 on an electric range and deposited $6000 he made from an online auction. What was the change in how much money Michael had?
Question
Michael carefully tracks his money. His records indicate he spent 6000 he made from an online auction. What was the change in how much money Michael had?
Solution
To calculate the change in Michael's money, we need to consider both his expenses and his income.
Step 1: Identify the expenses Michael spent $4000 on an electric range. This is money going out, so it's a negative change.
Step 2: Identify the income Michael made $6000 from an online auction. This is money coming in, so it's a positive change.
Step 3: Calculate the change To find the total change, we subtract the expenses from the income.
So, 4000 (expenses) = $2000
Therefore, the change in how much money Michael had is $2000.
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