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Mike wants to buy a book that costs [tex] \$8.00 [/tex] but has only [tex] \$4.00 [/tex] in his budget. What is his budget deficit?

Answer :

To find out how much money Mike needs to buy the book, we need to calculate his budget deficit. Here's a step-by-step explanation:

1. Book Cost: The book costs [tex]$8.00.
2. Mike's Budget: Mike has $[/tex]4.00 available to spend.
3. Budget Deficit Calculation: To find the deficit, subtract the amount Mike has from the cost of the book:

[tex]\[ \text{Budget Deficit} = \text{Book Cost} - \text{Mike's Budget} \][/tex]

[tex]\[ \text{Budget Deficit} = \$8.00 - \$4.00 \][/tex]

4. Budget Deficit: The result of the subtraction is [tex]$4.00.

Therefore, Mike's budget deficit is $[/tex]4.00. This means Mike needs an additional $4.00 to buy the book.

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